Saving animals and establishing humane laws takes money.  Therefore, I’m dedicating every Friday to Fiscal Fitness.Housing is one of the largest investments for most people. 

Per multi-financial reports, your housing costs should be 30% or less of your income.  This applies whether you rent or own your house.  A person who makes $40,000 should spend no more than approximately $12,000 or $1000 a month on housing.  And, it should include your taxes and insurance.  Sometimes, it’s impossible to find safe, clean housing that meets our budgets because we are living in places that are expensive. 

A few options to consider:

1.       Can you move into a smaller, less expensive place?

2.       Is there another part of town that is close to your work and still enjoyable but a little less expensive?

3.       Can you share housing?

4.       Is there anywhere else in the US you would like to live where either your housing cost will be less (and your income would be the same) or where your housing cost is similar but you will earn more money?

5.       Instead of buying your “dream house” can you buy a livable fixer upper or a duplex where your tenants rent will greatly reduce your mortgage payments.

Kate’s book, “Anyone Can Make a Million Investing in Real Estate” has many more practical tips on ways to save money and increase earnings.  $10 will buy either an ebook or a paperback copy (while supplies last).  Click Here.