pro-ed tip

Stay Put

As discussed above with vehicles, transaction costs add up fast. The same applies to where you live. It is expensive to move. It takes time and requires helping hands and/or a moving truck, etc. If you are renting there might be some damages that get deducted from the security deposit; the new place will also require a security deposit. Owning your own home can be a very frugal move! But take a page from Warren Buffett’s book. Buffett is one of the financially wealthiest people on the planet. He bought the home he lives in back in 1958 for $31, 500. His home is worth over $650,000 now. Buffett mentioned many times he would not be happier living in a bigger or newer home. He is happy right where he is. And good thing. The money he saved in Realtor fees and other selling costs would have come from the seed money he used to build his fortune. Fees generally are things you pay that give you next to nothing in return. Cutting fees is the surest frugal step you can take. Stay put. Move only if you have to (i.e.. job change).