How much would you save if you didn't have to pay any rent?

Question

Hi! I have a question to everyone. If you guys didn't had to pay any rent. How much more money could you guys have to, Spend, Save or to do whatever with it?

Answer 1

you would be saving money.....

depends on how much you give... multiply it by 12 months and you save that much...

think on wut u can spend it on.......

Answer 2

Time to call mom and ask her if she will let you move back in with her.

What is enlightening is calculating what it cost me to own vs. rent.  My last rent for 2 bdrm apt with no garage in 2002 was $845/mo.

In 2007 my total home payment for 3 bdrm, garage, on 1/2 acre including tax/insurance (PITI) was $1265.60, but after figuring difference between itemized and standard deduction it really just cost me $623.43/mo.  If the home was paid off it would have still cost me about $396/mo for tax/insurance with no itemized deductions.  I guess I should have bought a home a long time ago.

Answer 3

Right now on our home. Mtg is 884.84/mo. We're making double payments to pay it off early...so that'd be an additional 1,769.78/mo. Around 8 more years...and that will be reality!!!

If we were renting here in the town, it'd be 600 a month for a 3br2ba. Thats the avg. rent on a home with an acre+/- of land.

As for what we'll do with the money, It'll be our monthly conribution to retirement.

Answer 4

hello - i live in ny city and it would be over 2K a month and i would sock it away into a retirement fund.