If you're under the impression that you need to own a home in order to be financially secure, personal finance expert Suze Orman says that's simply not the case. If you want to own a home, and can afford to do so -- meaning that you have 20 percent to put down, an 8 month emergency fund, and the income to pay a 15 or 30 year fixed rate mortgage (depending on your age), go ahead and do it. However, if you can't there's no harm in renting, as long as you're establishing a savings in other ways. You don't need to own a home in order to be financially free.
For more advice on managing your money, see Suze's personal finance tips:
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