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Is your rent taking up a huge part of your household budget? You are not alone. According to the data from Harvard.edu, renters are using at least half of their income to pay their rent each month. This study was conducted by the Joint Center for Housing Studies at Harvard University. Their study revealed that in 2014, 11.4 million renters are using at least half of their paycheck to pay off their rent. In the same year, 21.3 million of renters spend 30% of their paycheck to cover their monthly rental fee. Experts believe, as stated in the study, that your rent or mortgage cost should only take up 30% of your income. Anything beyond that could really compromise the comfortable lifestyle that you can lead with your family. But what can you do if your rent is more than 30% of your household budget? The initial reaction is usually to trim your expensesso you can have more room in your budget. While that seems like a logical move, it is not the only option. You need to analyze your situation first so you can choose the right solution to the problem.