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Discussion in 'General Chat' started by Marki, Dec 12, 2013.
30% is the typical recommended max
Rule of thumb is , spend no more than 28% of your income on housing ... but most of you are young renters, early in your career, with no liability so its not as big a deal ...
for the home owners on here , who is fixed and who is variable ... and do you pay the taxes or let the bank manage the slush fund ?
I manage it, the bank charges you a small fee inside the mortage to do it for you.
4x a year I pay the city taxes, 2x a year the school taxes. In september everything is done.
I make 42 a year, still feel meh about 30%
What do you mean no liability?
Would it not make more sense to try to save as much money as rent as possible starting from a young age? I'd like to be able to purchase a house before i'm 30.
It would, but he means its less of a problem to pay too much for rent when you have less debts and financial obligations to honor. You have more disposeable income, whereas a person with student loan debt, children to care for or other important obligations shouldn't be spreading themself so thin by paying too much for housing.
what is your net ?
At 28k (before taxes) a year I could afford a car, a rent (700$ a month so that's roughly a 180k mortgage here), and go out 2 times a week. 50$ per month in 401k also.
maybe you are seeing this backward, the priority is the haus then with the money left you budget your life. Of course you live in the shithole that NY is so everything is graciously overpriced and prolly spend 120$ a week on lattes.
Net is around 28, same as yours was.
I understand priority is having a roof over your head, but like you said this is #$%#ing NY. I could put a roof over my head but that's basically all i'll have, the rest of my budget would go to living every month, hardly anything left to save.
i make about 20k after taxes, i live pretty goddamn comfortable. not having to pay rent helps a lot.
About 18%, but after ALL bills, about 30%.
You really have no room to talk, i'm sure everyone here would be "pretty goddamn comfortable" if they did not have to pay to keep a roof over their heads.
check yo privilege son
About 25% goes to rent, and another 25% goes to tuition.
Assuming your other living costs don't increase as your rent/mortgage and income do.
Edit : responded too fasstt 2 furiouss
the mortgage will decrease over time, everything else is pretty much flat.
not going to have kids ?
I'm with woot on this one.
With base pay, my rent would be about 20% of my net monthly,, maybe a touch less.
I work a buttload more though, so its probably like 14 or 15%
Its hard to tell for me because every pay is different, depending on OT.
you live with your parents?
been there done that lolwtf
parents bought a house for me to live in when i was studying. still living here.
what a spoiled little #$%# you are!