Debt has dominated national discussion and policy since the great recession hit the U.S. in September of 2007. Now student loan debt has hit the headlines with a recent Today story that delinquent student loan debt passed delinquent credit card debt for the first time. And Universities are suing the students who default. And, students have no recourse even through bankruptcy.
Student debt reached an all time high of $1 trillion dollars whereas credit card debt is at $850 billion. Add that Americans are in debt to the tune of $8 trillion additional in mortgages, the average household debt equates to $195,000. What does this have to do with ShopRTO and rent to own? When you get your home furniture, appliances and computers through rent to own, you don’t incur any debt. As the millenials have found out, debt is something they can live without. Which is why so many of the Y generation are waiting to buy homes, renting their lifestyle and using rent to own to live comfortable and without debt.
Living without any or little debt creates a flexibility that today’s generation seeks but renting also can mean endless payments without something to show for which again is where rent to own can play a significant role. Have that refrigerator without debt but with an ownership end in sight. Just make sure you use the rent to own transaction wisely to take advantage of the no debt feature and keeping the end price affordable. Use these ready to own “best practices” when you need rent to own for your home furnishings and without the debt.
Just another ShopRTO personal financial tip.
ShopRTO provides consumers home living and decorating tips and promotes rent to own as a shopping option for affordable home furnishings.