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

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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