Are you prepared for a change in the green?

Trying to decide between renting and buying? Here are some renting pros and cons:

Pros:

- Not responsible for repair and upkeep. When the toilet breaks, the ceiling falls in, the walls need a new coat of paint, or the sink is leaking…you don’t have to deal with fixing it or calling to hire personal to come fix the problem, not to mention paying for costly repairs.

-Don’t have to worry about what property values or interest rates. You don’t have to worry about refinancing your loan for a lower interest rate, or that your neighbor is rapidly destroying their previously lush lawn because a lack of water and mowing.

-Easier for relocation. Within the bounds of your contract it is much easier to move when renting because you do not have to sell first. Much easier for those who don’t want to make roots yet.

Cons:

- Not building equity in the property. When you rent that money does goes to the renter and does not help you come to own the place. When you buy the monthly payments get you closer to owning the house.   

- Dealing with bad management. Although you may not have to fix the problems you may have to get in contact with a mananger who is less enthusiastic about fixing the toilet or de-molding than you are. This can create an extremely frustrating and stressful living environment.

- Can’t buy new major appliances, paint, or landscape. Dependinf on your management there may be many restrictions on what you can do in the rental. Including if you can have pets, put nails in the walls, etc.

- Rent prices can rise. Every couple of years rent prices often go up. If you buy you could be putting the money into your home not into renting.

- Most rentals are in neighborhoods with other rentals and rental-communities are often different from owner-occupied areas. This can be a pro or con just depending on the personality or circumstances.

Marriage is the joining of two people. The problem is many think it is just joining them in love for the rest of their lives. Truthfully when two people get married they are forming a business partnership and need to remember that.

Studies have found that when a person gets married he or she acquires more wealth than when a person remains single. It is reasonable then to acknowledge that getting married puts you on a positive financial path.

Although marriage strengthens a person financially it is will be difficult at times. It is important to know this and plan ahead. When two people are planning on getting married they should create a financial plan.

Many marital frustrations stem from financial disagreements and headaches. When you stick to a financial plan there are minimal surprises and maximun trust.

Just as some businesses dissolve some marriages end in divorce. Divorce decimates the finances of a couple as it divides the money and costs court fees. To avoid going down this route make sure to have constant open communication regarding your finances. This will prevent you from getting too far from your planned path.

If you treat your spouse like a partner your marriage is more likely to last. The more in line you are with financial goals the stronger your love will grow for one another.

The economy is hurting and unemployment is still high. Every time this happens inflation waits in the background. We have the advantage of knowing inflation will come so now is the time to prepare. Your best bet at doing this is taking your liquid money and investing it. I’ve researched the best investment opportunities out there right now and want to share them with you.

Many think the answer to inflation is real estate. For those who think this they need to remember how their salaries will be affected by inflation. Usually they are the last things to increase. This means that despite low interest rates we will still feel the hurt when the value of our dollar decreases. Paying off your mortgage will then be really hard.

It is important when preparing for inflation to look at what investments rise at the same rate as the value of the dollar. Gold has a tendency to rise with inflation. Because we know about this trend it is a good idea to put your into this industry.

Commodities are another good investing opportunity for investors in this economy. A commodity is a tangible product people always need. Because people will continue to buy them regardless of their financial situation the cost of these items will rise with inflation.