When a Homeowner’s Penny Saved Becomes Two Pennies Earned
A house is first and foremost a home. It is where you sleep, eat, raise your children, take shelter from the storm, and hopefully grow old and happy. That was forgotten by buyers, banks and the government in the run-ups to the late 1980s and mid-2000s housing bubbles.
Pay yourself first. That’s the wisdom from retirement planners who advise people to make their savings automatic, part of their regular budget, so they’re never tempted to frivolously spend the money they should be putting away. But with all our bills and obligation and the need to put food on the table, just how hard is that?
Renting vs owning a home. What’s the best answer? The short-term goal of a monthly housing payment is to keep a roof over your head for the next 30 days. It’s the same whether that payment is for rent or a mortgage – the immediate benefit is shelter for you and your family.