Huge benefit in retirement calculations to be debt free. Pay off the higher rate debt first…
I know there are reasons to rent, but the rental rates in my part of the world are really high… higher than many are paying in a mortgage payment while building equity and their net worth.
According to NerdWallet, the rule of thumb is to spend no more than 30% of your income on rent. Some 25.6% of US renters are spending half or more of their income on housing.
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