Watch the video above and talk about it with a group or mentor. Learn more
Sometimes it seems like it would make more sense to get a mortgage and pay less per month than renting. But is it really the wisest course of action?
Key Points:
- Housing is never as simple as we assume. It might look cheaper on paper, but if something goes wrong with your house, it’s on you to foot the bill. Not so with renting.
- In the long-term, owning a house is a better investment, but in the short-term, it can be a huge risk if you’re not financially stable. One bad year could ruin you financially.
- Focus is key for paying off debt. It’s easy to become distracted. We have to zero-in on budgeting, stick to it, and pay off debt.
Quote This:
Act your wage. -Dave Ramsey
Talk About It
- What is your initial reaction to this topic? What jumped out at you?
- Are you content with your current living situation? Why or why not?
- What is your dream living situation? Why is this your dream?
- What steps should you start taking today to realize your dream tomorrow?
- If you have debt, how quickly can you reasonably pay it off? Explain.
- What are some things that have taken your focus off of achieving your financial goals? What must you do to remain focused?
- Why do you think a huge investment like a house represents a huge risk while you have other outstanding debts?
- Write a personal action step based on this conversation.
