Is it possible to live without a job? How?
I think it is possible, but I might have a different perspective than what's offered here as another answer. I am 25 and am unemployed, and also living in one of the most expensive places in the world: San Francisco. I am by nature not a complacent person so I will eventually have a career. But for now I am pretty much what you will call scraping by with unemployment benefits and cal fresh food stamps. It's pretty nice. I love not working and my rent and groceries are paid for my money I had paid in taxes to the government. I do have some money in my savings account, which really adds up to three months worth of expenses. It's really not a lot and I am dirt broke, I guess. But, this has allowed me to be and find satisfaction in my current state and situation and has allowed me to live freely: in the moment. I can live off of these tax-payers benefits for an entire year, actually. Once I reduced my overall expenses (for example I really don't eat at expensive restaurants, especially knowing I could go to Whole Foods and get really nice organic groceries with my food stamps; I travel less now) and decided to adopt a minimalistic-state of mind, and focused on living in the moment and being happy, I actually feel very successful and have achieved a standard and idea of happiness and living that most people will never gain. I am actually very well-educated, driven, and am constantly surrounded by really smart and ambitious people. If anything my current joblessness is because I am a "struggling artist" and filmmaker that had made blunders and mistakes along the way, unfortunately. My family looks down on me. Thus, I could do way better. But I live, quite happily within my means and have gained so much satisfaction "struggling." I've changed a lot since finding myself in this situation. I judge much less and am driven to find more genuine relationships, especially since I have nothing, except my body and brain, and the way I think. So it is possible to live life, quite happily, without a job and each situation and circumstance will be different, mostly depending on your background, which then should inform yourself how to carry your life. I for one do not have to clean up after anybody and have all the free time in the world :).
How can I raise enough money to move out ?
If you're only early 20's, my advice is to stay home and finish college before you move out. If you move out, you'll need a full time job and won't be able to concentrate on school. I'm the mom of a 25 yr old son whose moved out & back twice cuz making it out there is HARD. He makes a great wage, but can't pay the bills unless he has no fun. So, he came back home. Having roommates doesn't work well because More ppl = a bigger place = more rent + higher utilities + more for the other rm-mates to pay when 1 of them doesn't pay their share or moves out. +...If one moves out, it's hard to find a replacement cuz you have to catch someone between leases, which isn't easy. When you DO move out, research apts in the area you want to live, then you need 3x's the amount JUST to move in. Call each utility co & get on the budget plan so you pay the same amount each month. That way you have a budget. Remember - 6 months after you graduate, your school loans come due, so budget for that, too.
Is it alright for my landlord to raise my rent if I got a better job?
Unless you have the absolutely unusual situation where your rental agreement specifies that the amount of rent is tied to your income, then that fact alone is not enough to allow them to raise the rent.However, there’s really no way for your landlord to know that you’ve got a better job unless:You tell themYou brag to someone else, and that someone else tells themYou start “flashing cash” by purchasing visibly high ticket items; without entering your apartment, that’s going to translate to “car or clothes”That said, there were a number of really silly things along these lines which have happened in Silicon Valley.The most absurd happened around the time of the Facebook IPO.When the Facebook IPO happened, it was hard for a landlord not to know they were in close proximity to the Facebook headquarters, that they had a lot of Facebook employees as renters, or that the Facebook IPO just made a bunch of people paper millionaires.Paper.So their knee-jerk reaction was to raise the rents of everyone they could, and then continue raising the rents of the ones they couldn’t, as the lease came up for renewal.Paper.After all, even if they chased non-Facebook tenants away, there would be Facebook tenants who were rich to replace them, right?Paper.They ended up with a lot of empty apartments, near Facebook headquarters.When an IPO happens, you might be rich on paper, but you can’t access that money for the lockout period between the IPO and the time at which you are allowed to start trading your shares. For Facebook, this was six months.Further, there’s generally a vesting cliff, so you can be a paper millionaire, but even if you are, you won’t be able to access the money by selling shares until you hit your vesting cliff, which could be even further out than the lockout period.And even if you’re a paper millionaire now, it doesn’t mean the stock won’t go down, and you will be an actual millionaire then.So none of these paper millionaires could afford to live in these apartments any more, and they — sensibly — moved.Even if they know you’ve had a windfall, most smart landlords will not rush to try and shake dollar bills out the coin slot of the piggy bank.Piggy banks don’t work that way.
Should I buy a mobile home or rent?
Here's the scenerio: Right now I rent with a small dog. The city I live in has no rent control and I just received a $500 rental increase. This makes my rent more than 60% of my monthly salary. I have a good job, it pays well and I am in the 2nd tax bracket (Canadian). Although I make good money, I cant buy a condo of any kind as they are well over $250 000 to start. If I find another rental, I am subject to more rental increases, money down the drain and its difficult to find a place that accepts dogs. (my dog comes with me no matter what) If I buy a mobile home that is attached to a site in a park, my mortgage and land rental combined would equal roughly the same as getting a new rental apartment. I am paying a mortgage, therefore the home is mine. I will never get a massive rental increase and my dog can live with me. The downsides are: I can easily get a roomy with a rental but not a mobile. Mobiles parks are sketchy, and expensive to heat and what about resale?
Can I work on my father's property without paying rent?
The answer is yes and no, depending on the depth of your question. Are you living on your fathers property or in his house and working/wanting to work in lieu of rent? Then, yes, you can, provided there is an agreement with you and your father. If you are worried he will turn around and want you to actually pay rent money, then the agreement should be done in writing. If he refuses the agreement then no. You have to pay rent if that’s what he wants. IF it gets down to it, and somehow gets nasty to where it goes to court, a judge is not going to be on your side if you refuse to pay rent, but say “Well I worked on his property, that should be enough.”If you are living else where, not on his property or in his house and want to work in lieu of paying rent, the answer is definitely no, for reasons of common sense.
Is it possible to make money by renting out property in India? What are the pros and cons of doing so?
Yes it is possible. We are doing so for the past 20 years. All our household expenditure are met by the rent. The salary myself and my wife go to savings and to build another house to rent itPROSIn India most of the house owners do not pay income taxes for the income from renting of property especially houses but they will get a housing loan to build them for the tax exemption ( a hypocrisy)The value of the building depreciates with time but land and the rent increases over timeYou are having your own home and you can do almost anything with itit is like someone giving salary without having to workThe number of hours you need spend for is nearly negligible like having a hobby or watering a garden plantCONSYou can't reap immediate income as soon as the house is completedit can't be the sole source of incomeHaving non complaining good tenant is a blissHaving a non complaining neighbours is a blissIf you are frequently transferred to other places it is difficult to manageGetting rent on time may be problematicDealing with house brokers needs courageIf a tenant is not good it is a pain in assMaking a tenant leave needs lot of experience and it is not for light heartedYou should be a good negotiator to have maximum rentWe had our first rent of around ₹ 800 from one house as on 1994Presently we have a rent of around ₹ 60k from 13 houses every month of 2017SUGGESION FOR THOSE BUILDING FOR ADDITIONAL INCOMENever build a single house and rent it. Build at least two houses/ apartments in the given area. This way they will fight and gossip among themselves and don't disturb younever rent more than one apartment to same person or very closely related person. They will not leave soon.If you smell something fishy ask them to leavenever be over friendly with your tenantnever be too strict or too lax with your tenantIf your tenant happily agrees to the raise without much drama beware it is not the market price for the space
Is it better to buy an affordable house in cash or to rent a better house closer to work?
Your question can’t be answered by yes to one or no to the other. There are different aspects to consider in each of them.If you are thinking of living in the house, you can buy it with cash, but you have to consider your own liquidity (does it deplete your savings, do you have enough to take care of other household expenses, insurance, utilities, upkeep, etc). Of course, you’d have immediate equity in the property. On the other hand, if you bought with a large downpayment and a mortgage, you can deduct home interest from your income taxes if you itemize. You’d have most of your cash still available for whatever, and you would be building credit and equity in the new home, with a possible plus in income tax savings.You seem to indicate the house is not as desirable as a rental house nearer to your work location. Keep that in mind - if the area where the house is located is not as good, you would need to be sure the house would actually increase vs decreasing in value over time. Be sure that you are going to be in that area for a while - usually it takes a several years (or more) for property to increase in value. If you sold too quickly, you could end up losing money.Renting would place you closer to work without depleting savings. However, rental is practically money down the drain IMHO. Someone else builds equity or income, not you. The other side of this is that if something breaks down that you didn’t cause by negligence, the landlord is on the hook to replace or repair. Sometimes you don’t get the kind of landlord you’d like - that is, the landlord may not respond to you as quickly as you’d like or sometimes what you need. The landlord may raise your rent every year.If you bought a house to rent, I would still consider placing 20% down and obtaining a mortgage for the balance. You would be able to depreciate the house over 27.5 years, deduct mortgage interest, and deduct costs of maintaining the property. If you are careful about what you buy and how much you have in the way of a mortgage payment, you can possibly have a loss (on paper) that reduces your income taxes while the tenant is paying or nearly paying the mortgage for you, building equity while minimizing your outlay.As others have commented, be sure you have the excess funds to take care of emergency expenses for the house. Good luck!
How do you quit a job, when the boss will freak out and kick me out of the house that I rent from him?
Challenges to be met & Choices to be made--don't ya just love life??? LOL O.K., seriously...the best you can do/be is to reflect a professional business attitude...this new position offers you enhancement of your career path as well as your personal lifestyle, and you've made the decision to "Go for it!" As long as you offer at least 2 wks. notice for him to find a replacement...your future employer should respect this since they, too, would appreciate such consideration...you have covered your buns on the bridge burning aspect. You're going to have to go with the flow of how he will react, esp. with your living arrangement...again, the best you can be is professional in Self. Never worry about time or money...these always seem to come when you need them..."Where there's a will, there's a way", right? And worry doesn't do much but knot your gut & push away what you're going for. Good Journey, Hon...New may be all around you...how exciting! Take on the challenges, stand fast in your choices, and reflect the best of you that you can in all of it!!!
I want to raise cash to wipe out my excessive and disgusting student loan debt. I have a job. My monthly obligation is $1700 on top of a $1550 mortgage. What are some creative ideas?
What's your degree in?My advice would be for you to undertake some type of contract employment.Why?It pays exceptionally well - I have routinely taken contract assignments which have paid me more in one years than I made in two.It's a seller's market - Many Baby Boomers are aging and retiring from the work force. To replace them most companies are trying not to increase their head counts. Contract employees allows this to be possible.You can travel - Unless you already have a family or are in a committed relationship with a partner who cannot go with you, there is a wide world out there to see. Contracting allows you travel around the globe if you chose to.It can help you land a permanent job - Most companies will pay for contractors, but what they eventually want is loyal,lower paid grunts who work for them. If you are an outstanding or even an above average contractor, expect to be offered employment at least once during your employment.If you don't like it, you can leave - While I would advise anybody against "job hopping" too often, in contract work if things go south, you can too. There are almost always other offers and you can leave with as little as a week's notice (although two weeks is always preferable)If you are deeply in debt with college loans and you have the skills which companies are seeking, the contracting may be the best thing for you.