Is It Ever a Good Idea To Just Keep Renting?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 8 July 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Joining me today is Ramsey personality, Dr. Chandelloni.
0:15.8	Lynn is with us in Minneapolis.
0:17.7	Hi, Lynn.
0:18.2	How are you?
0:19.5	Hi, Dave.
0:20.0	Hi, John.
0:20.6	Thank you for taking my call.
0:22.0	Sure. I am a huge fan thing, and I'm debt-free thanks to you and your program.
0:27.6	Way to go. I am 60 years old. I make $55,000 a year as an administrative assistant, and yet I still
0:36.6	have paycheck to paycheck because of my high
0:38.7	rent, but I love where I live.
0:41.8	My take-home pay is $2,600 a month, and my rent is $16.55, which is over half of my take-home
0:49.3	pay for a one-bedroom apartment.
0:52.3	I've been looking at purchasing a condo, but the ones I like get outbedded, and the older
0:57.2	condos, which are more affordable to buy, have a high, like, $700 in HOA fees, and I'm not
1:04.7	comfortable with that high of a fee.
1:07.0	So my question for you today is, I really like the convenience of renting.
1:11.6	I'm wondering if it's in my best interest to purchase something or if it's okay to keep renting.
1:17.2	I could find a cheaper apartment that's not as nice, but it would be like $200 less a month.
1:25.0	Okay.
1:26.1	Your $2,600 number if you make $50,000 is wrong.
	...

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