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Dave Ramsey says: Teen making wise choice to plan for renting place

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Dear Dave,

What would be your advice for someone who is renting an apartment but has never rented before?

I’m 16, and I’m trying to create a plan for when I get out on my own in a couple of years.

I’ve never had any debt, and don’t have a credit score. Is it going to be hard to find a place to live?

– Riley

Dear Riley,

I get where you’re coming from. A lot of people believe it’s hard to get an apartment without a credit score, and that’s just not the case.

In most cases, if you’ve got money for a deposit and proof of employment, you can find a little apartment somewhere.

Anytime you’re renting it should be because you’re in a stage of your life where you’re not going to be in the area long, you’re saving money to buy a home, or you’re working your way out from under a lot of debt.

Think of it as “rent patience.” Renting should be a temporary stop along the road, not a way of life. You’re parked and you’re on hold until you’re ready for a house or you get your finances in order.

I don’t hate apartments, and renting isn’t evil.

But renting for a decade or two is not a smart move. How much do you want to pay for patience? The least amount possible.

You want something clean and safe, but nothing too fancy. You don’t need a racquetball court, skylight or hot tub.

I love that you’re a planner, Riley. Keep looking ahead and thinking toward the future!

— Dave

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