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re: House = (x)household income
Posted on 8/12/15 at 10:54 am to yellowfin
Posted on 8/12/15 at 10:54 am to yellowfin
quote:
my goal, however, is to try and afford everything on just my salary so that if one of us loses our job or we have a kid and we lose her income for a year or so, we'll still be fine.
My wife will start teaching again this year for the first time since we had our first child. 100% of her income after taxes and benefits will be going towards savings and debt paydown. We will continue to operate off of my income and will have a little extra since I don't have to pay the super high health insurance anymore. By this time next year I should be debt free with the exception of my house and then we will look to upgrade a bit.
1
Posted on 8/12/15 at 11:04 am to Janky
The percentage is going to vary greatly depending on your child situation and if they are in private school. I also feel like there gets to be a point where if I have a big enough house, I would use the extra money to retire early rather than putting it on a bigger house.
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