Personal Finance- Renting a House

Renting a house is not always the best option.  But, if you are just starting out and living on a monthly budget, renting a house may be the best option for you.  If you have a job that requires you to move around or you are not sure how long you will be staying in the area, it may be better to rent than buy.  Always weigh the options and do some calculations before you decide to rent or buy a house.  If you buy a house, it is a large investment.

Always consider utilities and your living expenses before deciding an amount you are willing to pay for rent.  Remember to place some money in savings if you want to purchase a house someday in the future.  Renter's insurance is important to have, and most places require it now.  It is based off the value of your personal property.  Generally, renter's insurance is not that expensive.  

Creating a personal budget, whether it is for the month or the year is important, especially if you are on a monthly budget or just starting out.  You do not want to get halfway through the month and only have $20 to your name for the rest of the month.  

This lesson will hopefully motivate some of you to create a personal budget plan.  Try to not spend all your money each month.  You do not want to live the rest of your life month to month.  Spend your money wisely!