Many say that renting your home is the opposite of wealth creation. But you can follow these tips to make renting an apartment in Garner, NC work for you.
There are benefits to homeownership. But its benefits (like tax breaks, incentives, and deductions) and the large down payment requirements, homeownership tends to favor middle-class and affluent homeowners.
But what about renters? If you are a renter, you may have that extra chunk of money that you were possible going to use on a down payment, infest it. However, renters often spend more of their income on housing, leaving little money to save or invest.
Aside from programs, there are ways to lock in, or shave money off, your rent. First, always pay your rent on time. Paying on time (earlier is even better) puts you in great standing with your landlord. Despite the high demand for renters, many landlords admit it is frustrating vetting new tenants. Stay on top of your rent, and while others' rent is increasing, yours may stay the same.
Try and put some amount of money away per week or per month. Use that money to save and/or invest.
Have a financial planner or adviser. Plenty work with “small fish” and having a plan, even a little plan, is better than no plan at all.
If the company where you work matches 401K deposits, put away the largest amount they will match. This way, if it isn’t coming home in your paycheck to begin with, you can’t spend it.
Don’t forget, on-time rent payments at HHHunt apartments are reported to credit agencies helping to build your personal credit over time.