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re: What % of your income goes to Mortgage?
Posted on 9/27/22 at 4:54 pm to BayouBengals21
Posted on 9/27/22 at 4:54 pm to BayouBengals21
You need to qualify in your question if you should include taxes, insurance and HOA.
15 year note - P&I only - 7.6% of gross
Include HOA, taxes and insurance (I’m in a high rise) - 13.4% of gross
But as other people have mentioned it’s all the other stuff tied up (car payments, daycare, utilities, car insurance, etc…. The important thing for me is to have enough to where I save 25% of my gross each year (including company matching). Anything above that I allow myself to spend if I so choose as I believe you have to live in the present as well.
15 year note - P&I only - 7.6% of gross
Include HOA, taxes and insurance (I’m in a high rise) - 13.4% of gross
But as other people have mentioned it’s all the other stuff tied up (car payments, daycare, utilities, car insurance, etc…. The important thing for me is to have enough to where I save 25% of my gross each year (including company matching). Anything above that I allow myself to spend if I so choose as I believe you have to live in the present as well.
This post was edited on 9/27/22 at 5:02 pm
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