According to The Guardian, one in seven private tenants are paying 50 per cent or more of their paycheck on their rent. This far outstrips the two per cent of homeowners who pay a similar amount on their mortgage repayments. There’s a rent trap in the UK.
With the massive surge in property prices, many people can’t get onto the property ladder. This leaves them with only a few options – Stay at home and save like crazy to get enough to buy their own home, or join those in the rent trap.
Those who enter the renting market are falling into a rent trap – Because they’re spending a large amount on their rent, they’re unable to save. In fact, according to the Bank of England, average savings across the UK have dropped to record lows.
There’s just not enough money to be able to rent, live, and save at the same time.
If you’re renting, it’s unlikely that you’re also saving. So, how do you get out of this rent trap? The only real answer is to find a second income. The problem is finding a second income which won’t see you taxed heavily and won’t take up too much of your time – You have a life to live as well, after all.
One of the paths out of the rent trap is to trade on the Forex market. If you Learn to Trade with us, we’ll show you how you to place winning trades, how to protect more than 98 per cent of your money at all times, and how you can do all of this in only 30 minutes each day.
Once you have a stable second income, you’ll be free to do as you choose. Whether you want to travel the world, buy a home, or are happy having a far greater disposable income – Trading on the Forex market will allow you to do as you please.
Take the first step, come along to one of our free Forex workshops and discover the benefits of Learn to Trade.