Low-Rent/Mortgage Living

I ran into an interesting post on positivesharing.com related to low-rent living and the advantages thereof. For those of you that don't know what low-rent living is, here is my definition:

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

Please see positivesharing.com to read the details for each of the 10 items. I included number 8 in this post because it is so important - Do not waste time trying to keep up with the Joneses!

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housing ratio, low-cost living, mortgage, rent