Re: Buying Vs. Renting


Photo thanks to SkyscraperPage

I recently read a fantastic article on the web called “Throwing Money Away – Buying vs. Renting.”

As a person who rents and has no intention to ever have a mortgage, I’ve been told many times by many people that I am “throwing my money away” by paying rent when I could be putting money into a home to “build equity.” It was great to read this article and have it explain exactly how I think and feel on this subject, so the next time this comes up, I’ll be sure to forward this post.

One thing this article doesn’t take into consideration is the advantage of being mobile when renting. Because I’m not heavily coupled with my apartment, I’m able to apply for many jobs around the world, without having to restrict them to my current area. Even if I was spending more than someone with a mortgage (which I do not believe), I would consider this an acceptable “cost of doing business” that allows me to move upward or sideways, in any industry or job I want to move towards. Sixty days notice and I wash my hands.

Which side are you on? Read the article then come back and comment.

“Never take financial advice from poor people.”

39265357I’ll tell you what really took the wind right out of my sails with regards to Going Debt Free in 2010 and was the number one factor in my abandonment of the site: Somewhere, I read the advice “never take financial advice from poor people.”

Well, I’m poor, I thought. And I’m running a website that lists tips people can do to save money and pay off their debt quicker. Wasn’t this a form of advice? Perhaps not legally, but socially, yes.

I felt stupid. I imagined a big group of rich people, drinking champagne, laughing at my face. I didn’t want to be the poor guy blogging about financial tips, but that’s exactly what I was. Worse, I agreed with the statement. What was I doing?

It’s taken me quite a while to come to terms with that and to learn how to rebut the argument: never is too strong a word. I wouldn’t take financial advice from a poor person on topics that are our of their domain: things like investments, flipping houses, or where to put the $100k I’ve got sitting in the bank (yeah, right!). But, I will take financial and life advice from a poor person on things that are directly in their domain: being poor and how to get by with practically nothing.

And that’s where I fit in with this blog. I’m offering tips and tricks that I’ve learned on my own journey or make sense to me that I’ve read on other blogs as a poor person. If you’re out of debt and saving money month-over-month, this blog is probably not for you. But, if you’re like me and are mired in debt, saving, scratching anywhere you can, then welcome home. Have a seat and make yourself comfortable :)

Article Roundup: 5 Articles To Inspire

Keeping up momentum when you decide to live life debt-free can be challenging. The following five articles are filled with stories and tips on how to stick it out or stay debt-free.

How We Paid Off $30,000 of Debt

How to Stay Free of Debt

Ask The Readers: How to Live Debt Free

“I’ll Never Be Debt Free”

The Real Key To Being Debt-Free

Internet Scavenger Hunt

Theme Hunt is a fun website for the whole family to enjoy and, if you’ve got a digital camera, doesn’t cost a cent to join.

The premise is simple: Every week, Theme Hunt chooses a random subject and readers are then encouraged to share links to their images, blog posts, or videos that relate to the subject. The best submission that week wins bragging rights. It’s like an Internet scavenger hunt!

Some of the items that people send in are really interesting. See if you’ve got some photos or videos that match the theme of this week’s Theme Hunt!

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Going Debt Free Needs Your Help

help-wantedGoing Debt Free needs the help of our readers who have wondered what it would be like to have their own blog and would like to contribute blog posts to the Going Debt Free website!

We are looking for those in the community that would like to post about living a debt-free lifestyle, the changes you’ve made to move toward that goal, and innovative and unique ideas on how to save more and spend less.

If you’d like to join the Going Debt Free team, sign up for a free account and get blogging!

Subscribe To Going Debt Free

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