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.
I’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
Hello one and all to Going Debt Free!
You may have noticed that this site was offline for a number of years. This is due to an overwhelming amount of work and life changes during that period. It was rough. But, I’m through it. The good news? Tons. But to make things short and sweet, here are three things that jump right out:
- I’ve paid off my highest interest credit card in the time this site has been offline
- This site is now back online and better than ever
- Going Debt Free has a new logo: a four-leaf clover, to remind us how lucky we are every day
What started as a simple blog for me to share articles and tips I found scattered around the Internet is now a publishing platform for you, our readers, to post your own articles on your own blogs, hosted by Going Debt Free. Register for a free account and start blogging! I’m excited to see what you guys and gals come up with.
Here’s to 2013 as being another year closer to breaking the chains of debt.
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!
Going 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!
Image via CrunchBase
Looking to stay in the know for all of the great blog posts and changes on Going Debt Free? Now we’ve made it even easier to do so by these three easy methods:
Going Debt Free is now on Twitter! If you’ve got a Twitter account, follow us. If you tweet about personal finances, going debt free, or ways to save money, we’ll follow you back, helping to build the community.
Like us on Facebook to share the good tips and tricks you’ll find here with your friends! This also offers you another great avenue to send in your own helpful hints on how to save money, invest, and build a debt-free life.
Really Simple Syndication (RSS)
Using a feed reader to keep up-to-date on Going Debt Free is easy. Simply copy this link into your reader and every time Going Debt Free has a new post, you’ll get it instantly. PS: If you’re looking for a great RSS reader, try Feedly!