The new year is past three weeks and the feeling is still not over. While some partied like there’s no tomorrow on the new year’s eve at exotic locations, some have planned to celebrate it after January as the costs would be low then.
Out here the question is not of affordability but of planning.
- When you buy something you have pay high down payments along with heavier EMIs. With renting, you are paying a nominal amount when picking up the furniture or electronic appliance of your choice.
- The cost of maintenance and upkeep also comes along with the product that you buy from the market. With renting, you have absolute peace of mind and there is no maintenance cost or repair bills.
- Buying also leads to depreciation of the product value over time. Furniture, electronic appliances etc. are a liability rather than an asset and you keep on losing money with each passing year. When you take furniture on rent, you are always in a better situation and can go up or down basis your requirement.
- There is little or no room for upgrade. If you want to upgrade to a new Television from your existing one, you will always lose good money when you have bought the product. While when you rent, you add an incremental amount and get an upgraded product without any negotiation. And in case you are going through a lean patch, you can always downsize.
- You are not required to pay any insurance amount or extended warranty for the products you rent. While in case of purchasing, you always prefer buying one just to save yourself from any malfunction headaches. That also means, you don’t have to listen to benefits of various insurance and extended warranty schemes.
Get started now on your future financial well-being, overcome money anxiety and start improving your life today. Master your money and start renting from today. Maybe the next new year, the party will be on you.