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Savings Tips 5 ways to save more money on rent

Living with someone can be an exciting and fulfilling experience. You can also split the utilities to lower costs.

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A lot of Ghanaians are moving from their hometowns to seek greener pastures in the cities.

However, they end up spending all their income on rent and utilities without investing or saving part of their salary. This makes rent a hot topic and we have compiled five simple ways to save more money on rent.

READ ALSO: 5 dangerous habits that could make you broke

Living with someone can be an exciting and fulfilling experience. They can turn a room into a home – or they could turn it into a source of never-ending stress and conflict. However, there will be days when you just want to be left alone and have peace and quiet.

On the brighter side, you’ll be able to divide up the cost of your monthly rent and utilities.

READ ALSO: 4 simple ways to prevent money from ruining your marriage

  • Try moving home

This is not the best option but it will buy you some years to save enough money to make down payment for a new place.

If you can focus on your goals, you can move out quickly and make the most of your situation.

  • Choose an area with cheaper rent

Serenity and location is such an important part of the rent and housing costs. By adding a few minutes to your commute, you may be able to save money each month. Wake up early and do your morning rituals so that you don’t get late for work.

READ ALSO: 8 tips on how to leave University with a fat bank account

  • Consider buying a home

Surprisingly, in some areas, you can really save money by buying a house instead of renting. You can buy uncompleted or semi-completed houses and fully furnish one or two rooms plus the toilet and kitchen then you work on the completing the whole house step by step.

  • Look for a job at a lower cost of living area

These days, most manufacturing companies are setting up their office in the outskirts areas. You can either ask for a transfer and find a new job in such areas and come to the city for relaxation during the weekends.

Moving to an area with a lower cost of living can mean that you do not have to work as much.

It may mean more time, and it often means that you can afford a really nice house for a lot less. It is definitely an option that you should consider.

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