to Rent or Own?
Decision between to buy or to rent depends mostly on how much will you use the item you want to buy. A pool table is a very good example to show how owning one may cost you much more than to rent one by going to local pub and playing there. Lets say an average pool table costs around $1000. Is it final cost or not depends on the seller but you may have to buy an extra accessories. Now it really depends on your weather its a good deal or not. To find it out you have to consider three things:
1) the cost of owning a pool table
2) how many times in a certain period you play pool
3) the cost of one time played at home and at local pub
Is it wise to build your own gym?
Thinking of having your own gym is more or less exciting almost to everyone. But not much of us think of it from the financial management side of view. Just think of all the expenses that your own personal gym needs. And now compare those to the expenses of just visiting a regular gym at town. You may think that bus ticket, expenses on gasoline or time saving or parking fee and other costs sum up in the end but just think about annual cost of heating system or air conditioner you are using in your gym and you will see that eventually you pay a lot more even on those things not considering the biulding costs and machinery and all the accessories.
The simple thought is: By not buying things you don't need you first save yourself extra time from not doing extra work to buy such things and you also save some money that you can spend on a vacation or traveling or whatever you fancy.