One of the most common pieces of financial advice always seems to be that you should invest in a home as soon as possible. It’s a huge financial step into the world of adulthood, and the profit you’ll make from eventually selling it off will make it all worthwhile. Owning a home is the definition of financial stability, they say. And they’re wrong. Owning a house is not only not necessary, it’s mostly impractical. And here’s a list of reasons to prove it.

Renting Keeps You Flexible

Renting Forever Gives You Many Options

Renting Forever Gives You Many Options

While you rent on a contract, that contract is much more flexible about allowing you to pick up and move whenever you want or need to. If you’re suddenly making more money than you were before and would like to move to a nicer place, or if you get a new job and want to move somewhere closer to the office, you generally can at your leisure. You may have to pay a fee to end the contract early or wait for it to end, but most contracts are for six to twelve months so you wouldn’t have to wait too terribly long. A house isn’t quite so simple. Selling a home can take a long, long time. Much longer than six to twelve months. Selling your home and relocating to a new home is a headache and a half, so why buy?

Free Repair Service

When you’re renting and a pipe bursts, you dial up your landlord and they send someone over to patch up the damage. If your stove dies or your neighbors punch a hole in your wall, the onus is on the landlord to fix it all up. Guess who gets to take that over when you own? You either become a jack of all fix it trades or shell out the cash to pay a professional to take care if it all for you. Replacing a dead refrigerator can cost you thousands of dollars when you’re on your own. When you’re renting all it costs you is a phone call.

Owning A Home Is Pretty Expensive

Owning And Maintaining A House Is Expensive

Owning And Maintaining A House Is Expensive

It’s true that when you rent you’re throwing your money out for good. You aren’t investing in anything, and you’re never going to get that money back in any capacity. But you do that when you own a home, too, on taxes. You’ll ay property taxes, home owners association dues, condo fees, and whatever else is specific for the area you live in and the type of residence you have. You never see that money again; it doesn’t go to some investment like a mortgage does. Just like renting, it’s been thrown out for good.

Renter’s Insurance Is Way Cheaper

When shopping for home insurance, you’ll notice that renters insurance is far less expensive than home owners insurance tends to run. For example, you can pick up renters insurance for as low as $10 a month depending on where you live and the size of your space, and I dare you to find home owners insurance at the same price per square foot. Odds are good that you’re looking at $60-70 a month minimum there, and that difference can add up.

Homes Can Lose Value As Prices Dip

If The Market Collapses That House Will Lose Value

If The Market Collapses That House Will Lose Value

The cornerstone to every argument telling you why you should buy a house is that you’ll always earn a profit. The market always goes up. Take good care of the space and you’re sure to sell it off for a pretty penny when you’re ready to move on, and that’s ultimately why owning beats renting your home. And just about every home owner looking to sell during the recession would like to lodge a complaint. The housing market is like every other market; it will have its raises and dips, and how well you fare on it is always going to be equal parts research and luck.

Don’t even try to deny it: You grew up watching Disney movies. We all grew up watching Disney movies, really. And we all should know by now that hidden deep in every Disney movie – or even sometimes not so very deep – there’s a little nugget of wisdom that’s worth carrying around with us into our adult lives. But these lessons are usually about morality, love, family, or friendship. How could any of that possibly apply to the way you spend your money? You just might be surprised. They may not be the moral of the story, but here are some things to think about.

Snow White – Beware of Shiny Apples

Beware Of Shiny Apples

Beware Of Shiny Apples

There may be times when a certain item seems to be calling your name. It’s a sweet siren song, begging to be bought, and more than anything it wants you to be the one doing the buying. And it’s perfect, you think to yourself. Why wouldn’t you need a brand new flat screen TV the size of your wall? These pans are non-stick – you wouldn’t need to butter or oil it up! You just have to have it, at any cost. Well, don’t you bite into that apple, Snow White. It’s a trap, and you’d best keep your hands at your side and your wallet firmly in your pocket.

Oliver and Company – Be Careful with Loans

There will often be times during which we may need to take out a loan, whether it’s a major loan from a bank or even just borrowing some money from friends or family. So naturally, since that’s not a small favor to be asking of whomever it is you’ve asked, you want to be smart about paying it back. As much as possible, try to do so in a timely fashion so as to avoid a sudden, panic-inducing three day ultimatum. And please make sure that you’ll actually be able to pay your loaner back. It would be pretty terrible to have to resort to kidnapping a kitten for ransom just to get yourself free and clear, no matter how kind and well meaning you may be.

Cinderella – Be Resourceful

Cinderella Taught Me To Be Resourceful

Cinderella Taught Me To Be Resourceful

You’re going to a super fancy party and you need a brand new dress for the ball. Normally that would be a ridiculous expense, but if you’re like Cinderella and her mousey friends, why not just go ahead and make one? If you have the know-how and the materials to get something done for infinitely cheaper, it’s usually a pretty good idea to go the cheaper route. Yes, it would almost certainly take you more time to do it this way, but just think about how much money you’ll have been able to save in the process. Alternately you could have a bunch of really good friends who are willing to drop everything to make your dress for you. It worked for Cindy.

Aladdin – Don’t Let Money Change You

Not to say that the rugged thief look was a good place to start, but strength of character is always important to maintain. Suddenly coming into money has a tendency to turn just about anyone into the worst impulse buyer you’ve ever seen. If you should ever find yourself lucky enough to get promoted or to be on the receiving end of a huge raise, be careful of losing your cooler, budget-conscious self. Whatever good money habits you’ve formed in the past, keep them up. You wouldn’t want your diamond-in-the-rough status to be revoked based on a lapse in judgment.

Princess and the Frog – Save, Save, Save

Spend Money Wisely And Save As Much As You Can... For Later

Spend Money Wisely And Save As Much As You Can… For Later

Everyone has their big lifelong dreams and their ambitious goals. The unfortunate truth about dreams is that a lot of them require some amount of money to be able to realistically achieve them. Which is why it’s important to work hard, be patient, and save up for the things that you want to do in life. That’s exactly what Tiana did, steadily and patiently over a long amount of time without giving up. You wouldn’t want to be too much like her fun-loving prince, who spent so much of his allowance that he was cut off by his parents.

Tangled – You Don’t Need Money to Have Fun

There’s absolutely nothing wrong with spending your days at home without spending a single dime to keep entertained. Rereading the same three books, doing chores, and climbing the walls with your ridiculously long hair will never stop be entertaining. Unless of course you don’t actually have hair that long.