Mortgage rates remain low and have further dropped in June according to the Texas Home Loan Blog, yet many Americans are still unable to afford buying a home and continue to rent.
There are many reasons why Americans continue to struggle to buy homes and settle on renting, some include unemployment, underemployment, increase of living expenses ,and bad credit history and scores.
Some problems like unemployment and underemployment are ongoing problems which require active job seeking and consultation along with continuous improvement of a persons professional skills.
As for living expenses, try to reduce your living expenses by reducing your consumption. A while back we wrote an article on 10 ways to save money but there are still many other things you can do. A general rule of thumb: don’t consume beyond your what you absolutely need.
Lastly, improving your credit. I came across an article on how to improve credit on a personal finance website that I recommend you read.
Taking charge of your finance future is no one else’s job but yours. Resources are available for you to do that. Take good advantage of the internet to accomplish your financial freedom. But meanwhile if you are looking for short term financial solutions and fixes, we at Pay1Day, a direct online lender of payday loans, are here to help you.