Welcome to a new week and a new theme here on the One Minute Retirement Tip! 

This week, I’m talking about the decision to rent or buy. Anytime you’re contemplating a large purchase, you should always seriously ask: Does it make sense to rent instead? 

So this week we’ll be exploring the rent vs. buy decision when it comes to vacation homes, RVs, boats, and even that leafblower you bought last fall. 

Too often we don’t look seriously at the rent vs. buy decision, so this week I’ll help you think through the best option for you and how to think through the rent vs. buy decision of these big ticket items in a rational and thoughtful way. 

The key point with the purchase of any big ticket item is to remember that money is a limited resource, and that money used in one way prevents it for being used for something else. So it’s important that the purchase is a worthwhile one that considers not just the benefits of that purchase but the drain that the purchase will place on other resources, like your emergency savings, your expenses, and other things that your money could be used for instead. 

That’s it for today. Before you go, though, if you haven’t already left a review in Amazon or iTunes for the One Minute Retirement Tip, can I ask a favor of you to go do that right now? It just takes a few seconds and it helps to spread the word, and helps other people find this podcast. 

Thank you for listening and a special thank you to those of you who have already left a review. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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