I use Google Analytics and Sitemeter to track my website statistics. One of the advantages of using these tools is that I get to see what people type into Google to reach Sweating The Big Stuff. Once in a while, I’ll get a real gem, and last week, I was surprised that someone searched for:
is 30 cents a month bad for paying rent to your little brother thats 9
Obviously these two brothers are having some issues sharing their room, and what I find fascinating is that the younger brother is the one doing the bullying!
Also, I suspect that this kid didn’t stay on the site too long because Google brought him to a post about avoiding a high cell phone bill.
So today, let’s help him out and see if it’s a good deal. At 30 cents a month, it comes out to $3.60 a year. That’s compared to the average $651 per month, or $7,812 for renters* (let’s just assume he’s not ready to buy a house yet, although with these savings, he will be able to in a few short years). That’s a savings of $7,808.40. So, in short, yes, 30 cents a month isn’t bad.
However, since his little brother is 9, the humiliation of having to hand over 30 cents every single month must count for something. It’s hard to quantify it, but I suggest setting up automatic payments so that you don’t feel it so hard each month.
I grew up sharing a room with my older brother for the first 10 years of my life, followed by sharing a room with my younger brother for the next 4 years.
I never had to pay rent (and never demanded rent, either), but there are plenty of funny stories I have. One time, we split the room down the middle. After about ten minutes, I realized that having the closet but not having access to the door was going to be a real problem, and our agreement promptly ended in a fight.
So to answer your question, anonymous boy from Google, no I don’t think 30 cents is too much to pay for rent. If you can, I suggest locking in that rate for I don’t know, the next 35 years of your life. At that rate (with 7% interest), you’d have over a million dollars saved up, and that’s if you saved no other money! Imagine the possibilities!