You start feeling like you aren’t doing enough to reach your own goals and might try to rush things to achieve their level of success. It’s easy to look at someone successful and compare yourselves to them. ![]() “Your parents took decades to furnish their house” Paying money for rent is no more a ‘waste’ of money than paying for food is.”įor more, be sure to check out my article on real estate investing myths and my post on how to buy a house. OP also offers a great mental reframing of rent, saying, “As human beings, there are several things we need to survive, including food and shelter. These are also known as phantom costs - the expenses you don’t normally consider when you buy a house. Some of the lesser known costs include the lack of flexibility, stress, the risk of home price declines, home maintenance, real estate taxes, and HOA fees. While it is true that when you buy a home a portion of your monthly mortgage payment will be going to principal, and therefore you are paying yourself in some ways, however, the cost of home ownership is significant. If I ever go bald, know it’s because I tore my hair out every time I heard people say this. ![]() “Paying rent is not ‘throwing away money'” Here are 7 threads I consider must-reads. The Reddit personal finance subreddit can be an interesting place.
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