Finding a place to live that will result in a housing ratio of less than 28%. The housing ratio is calculated by taking the monthly rent/mortgage payment and dividing by gross monthly income.
My current housing ratio is about 13%. Mind you, I had to make some trade offs to get to this figure. I live about 50 miles outside of Washington, DC. There is no nightlife to speak of where I live. There aren't even any good restaurants. The upside? I can afford to travel and am no longer stressed about my finances.
Anyway, here are the top 10 advantages to low-rent living according to positivesharing.com:
1: Freedom to leave a bad job
2: Freedom to take a chance
3: Freedom to do what I enjoy
4: Freedom to do what’s right
5: Freedom to work less hours
6: Freedom to say no to some customers
7: Peace of mind
8: Focus on what really matters
When I’m not concerned with a bigger home, bigger car or bigger TV I focus on what really matters. My girlfriend, family, friends, business, writing, networking, learning, reading, etc… I waste no time keeping up with the Joneses.
9: Simple living
10: More money for fun stuff
housing ratio, low-cost living, mortgage, rent