One of the most draining aspects on your finances in modern life is high rent costs on private accommodation. If you find a large percentage of your wages are being spent on your housing costs then you are effectively living in poverty. Take California as an example, it’s reported that in some areas the average rent of a 2 bedroom apartment is $1,500 and given 30% is a reasonable proportion of income to go on rent you would have to be earning over $4,500 to make even this modest sized abode a reasonably comfortable option.

House Sharing

Why not consider house-sharing? If you are a young professional or without a family then it not only gives you a substantial saving on rent and bills but gives you someone to share with. Some people like their own space but it can be quite isolating and this obviously is a perfect solution to this.

Move Abroad

This may sound like a drastic option but there are many places in the world with a much more reasonable cost of living. There are plenty of options and many are a good bet, we have seen before some of the best foreign destinations to live and many have great job opportunities and some, like New Zealand and Canada, are even English speaking offering a minimum of upset when switching.

Look At Buying Your Own Property

It’s well known that the repayments on a mortgage are much lower than paying rent to a private landlord. The advantage, other than just the monthly cost is that you are accumulating value in the property as an asset. It’s easy to get info on mortgages and can find one to suit your circumstances if you have a regular income and a good credit rating. You also don’t need to feel trapped once you are in a mortgage as you can always review your current mortgage to see if you can get a better deal.

Consider Moving To A Lower Priced Area

Another way of reducing cost is to simply look at alternative area to live in. Of course, it’s never fun to move, but if you are having these struggles it’s unlikely you are the only one and it’s often the case that when areas become gentrified and push out the residents then other areas become what your area used to be. Have a good look around and you may be surprised at what is going on in other places in your area.

Get A Job With Accommodation Included

There are also plenty of jobs that provide accommodation as part of your employment package such as jobs in tourism or travel, the downside of these being that they are often seasonal. You could always pick a military career as they provide housing even for families. Other options include rural or agricultural positions as farms often have workers accommodation and can be a lovely setting to live in and even if just for a while can be a rewarding experience.