Life can be a challenge. Every day more and more people slip farther down a slippery financial slope. But some are calmly maneuvering the financial minefield that litters our modern age. How do they do it? One big way is by watching the little things. Little things add up to big things, so by keeping an eye on small costs around the house they rack up big savings. Here are a few basic household tips to get you started.
#1 Rent (or own) the smallest place you can handle.Why small? Less area equals less you have to pay in either rent or house payments. One room can raise rent $50-$100 or more a month depending upon location, and can increase the cost of a home purchase by several thousand dollars. Not only this, but you will have to heat and cool this extra space as well, which will increase your living expenses exponentially. Then consider the fact that you will have to fill the room with furniture and other items, and clean and maintain everything in that room. So less space=less time and money to rent/purchase, fill and care for. Also a smaller yard will mean less to care for and maintain. On another note, less room to fill up with junk if you're a clutterbug!
Another thing to consider is whether a nearby area costs less to live in. If you have a house that cost $150,000 and can rent a home for $250.00 a month1 , you could sell that house and pocket the difference, instantly having a nice nest egg drawing interest for emergencies! Not only that, you won't have to worry about expensive maintenance and repairs any longer, so you will have more money and more free time! No more taxes to pay, no more expensive home upgrades to finance, and if your neighbors ever get on your nerves, you can move!