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!



Technorati tags:
, , ,

Comments

Unknown said…
This is exactly what my wife and I did and it is wonderful. I couldn't have imagined how much easier it is to Live when my rent is only 18% of my monthly income. Much better than the situation I was in before, where my mortgage payment went up every month (gotta love those exotic mortgages).
8:09 PM
Post a Comment

Popular posts from this blog

Capital One Credit Card Late Fees

I have kept a Capital One credit card for the past couple of years because I had a "fixed" rate of 4.99% APR. Recently the rate went up to 8.99% APR, which was still pretty good. I mainly use my American Express Delta Skymiles card because of the great customer service I receive from American Express and the other benefits that come with the card. Amex is not accepted everywhere though, so I also carry the Capital One card. I missed a payment last month due to my getting confused about managing payments on bill pay (I've been paying $400 - $700 per month on the card) and cancelled the $50 automated payment I have setup to avoid missing the minimum monthly payment. I was hit with a $39 late fee. I called to have it canceled and was told that they system does not allow the phone reps to cancel the late fee anymore. Instead, a request was submitted and I would get a response in about 15 days. Well, I'm not waiting for the response. I applied for a credit union cre...
Read more

How to configure aplus.net email for Outlook in Office 365

 Not sure why Deluxe does not offer this information on its webmail support site. But here are the settings you need for aplus.net email configured through Outlook or Gmail or whatever other app you are using. Please use the following settings while configuring the email: Incoming Mail Server: securemail.aplus.net Incoming Port: IMAP: 993 or POP: 995 SSL: On Outgoing Mail Server: securemail.aplus.net Outgoing Port: SMTP: 465 SSL: On Username : Your complete Email Password : Email Password Authentication: Password;  Outgoing server authentication should be enabled
Read more

Michael A. Alao, CPA, CFE, Attorney at Law - Bio

Image
  Michael A. Alao, CPA, CFE Attorney at Law   Michael A. Alao is a Florida attorney, Certified Public Accountant (CPA), and Certified Fraud Examiner (CFE) with a multidisciplinary background in law, accounting, financial analysis, compliance, and investigations. Licensed to practice law in Florida since 2015, he brings a practical and analytical approach to resolving complex legal and financial issues. Michael is committed to public service and expanding access to justice through pro bono work. He volunteers as a family law attorney with the Legal Aid Foundation and Legal Services of North Florida, providing legal assistance to individuals and families in need throughout the community. Drawing on his combined legal and financial expertise, Michael has extensive experience analyzing business and personal financial matters, evaluating financial records, and addressing issues involving compliance, fraud examination, and asset valuation. His unique combination of credentia...
Read more