Get your last half year's bank records together.Ignoring taxes, bills already paid etc, mark every entry that could in theory be reduced. It will help if you group like for like stuff together (a spreadsheet is good for this) for example, clothes, entertainment, groceries etc. What you are looking for is a way to shave 10% or more off each of these items. Make a list of ideas for each category. This is easier than it might sound - for example, in 'Groceries' section, make a note to buy unbranded Supermarket generic products, rather than big brand high cost versions. The amount you think you can save by doing this is your 'war chest' against debt.

As a renter, you are subject to whims of your landlord. They work at their own pace, and improve their property as they see fit. You have no control over property that you reside in. Do your floors need to be resurfaced or your carpets replaced? Sit around and wait for your landlord to do it. Do your walls need to be repainted? Ask landlord.

It sometimes feels like you’re living at home with mom and dad again, doesn’t it?

So, its just easier to keep paying rent, right? Don’t forget . . . landlord can raise rent on you over time.

You can afford your own home!

Unfortunately, most people fear that qualifying for a loan will never happen. This is not true. Competition between lenders has increased drastically, causing them to come up with more and more products. There is likely a product out there to help you afford your own home! You just have to do some work and find right information.

While owning your own home may take some work, it is certainly worth it