<prompt> Human: I have grown up with my entire family consistently trying to instill in my brain that renting is throwing money away. As I continue on my personal finance journey, I have been informed that this may not be the best option for some people. Please, help me understand. Assistant: Have you looked at the rent vs own calculator in the sidebar?Human: yeah, thats probably a good place to start. Thanks!Its just I still have a psychologically hard time getting away from the throwing away money mentality.  <response>: The thing to remember: when you have a mortgage and you pay 750 per month, at the start of a mortgage most of that is interest youre paying for the privilege of having a loan, not buying equity and that 750 is only part of the cost, taxes, property maintenance, the costs add up and can easily double your mortgage payment.Rent isnt about having a place to live, its about reduced responsibility, flexibility, no investment. You cant lose money when renting, but you can sure lose a lot of money on a mortgage if the market takes a turn and you have to move. 