5 Reasons Why Renting Is Keeping You Broke (And What to Do About It)

Let’s admit it: renting is convenient, but it also keeps many people stuck.

If you’ve ever felt like you’re doing everything right, you are working hard, budgeting, saving, but still can’t seem to get ahead, renting might be the reason.

I’m not here to shame renters. I rented once too. But once I understood my financial trap, I knew I had to shift. That shift was house hacking—and it changed everything.

Let’s break down why renting might be draining your future, and what you can do instead.

1. Rent Goes Up. Your Ownership Doesn’t.

Each year, your landlord can (and usually does) raise your rent. Meanwhile, you’re building their equity while yours stays at zero. Ouch.

When you rent, you’re paying someone else’s mortgage… and then walking away with nothing to show.

2. No Tax Benefits = More Money Left on the Table

Homeowners can deduct mortgage interest and property taxes. Renters? You get nada.

When you own, you unlock financial perks that can shrink your tax bill and help you keep more of your hard-earned money.

3. You’re Missing Out on Appreciation

Real estate has historically increased in value over time. If you bought in 2020, your home might be worth tens of thousands more by now.

Renting means you never benefit from that growth no matter how long you stay.

4. You’re Not in Control

Renters live at the mercy of landlords—unexpected move-out notices, pet restrictions, renovation disruptions, and more.

Owning gives you stability, freedom to make decisions, and peace of mind knowing you call the shots.

5. Rent Keeps You in a Cycle—Not a Strategy

If your rent is eating up 30–50% of your income, that’s money you could’ve invested, saved, or used to build something bigger.

Renting feels safe, but in the long run, it can cost you more than just money. It can cost you momentum.

So, What’s the Solution?

Enter: house hacking—a game-changing strategy that lets you own a property while reducing (or eliminating) your housing cost. Think: buying a duplex and renting one unit out. Or getting a home with extra bedrooms and renting them on Furnished Finder. There are so many ways to make it work.

Want to Learn How to House Hack Like a Pro?

I created a full guide called
Live for Free: The Mindful Guide to House Hacking & Financial Freedom
where I break down:

• How I got a 5% down loan with no PMI

• How to analyze deals and avoid the “cute but cash-poor” trap

• The exact mindset + money moves that helped me go from paying rent to building wealth