So, I'm pretty sure I have a good estimate on this, but I wanted a second opinion. DH and I are budgeting to buy our first home. But we are waiting for him to get a promotion and transfer at work, first. Anyway, we are trying to figure out exactly what type of income (and supplemental income) we will need to make sure we don't end up "house poor". So, here's the questions I have:
- Is it safe to assume 30% of an income will go to taxes and health insurance?
- Our financial consultant said that we will be loan-ready if we make an income of $3600/month, considering our monthly bills and what size house we are looking for. So if my DH makes $16/hr full time, how much will I have to make at a part time (20/hr a week) job?
Like I said, I think I have these answers, but I wanted a second opinion...
Asked by Anonymous at 3:45 PM on Dec. 9, 2009 in Money & Work
Answer by mellypoo at 3:49 PM on Dec. 9, 2009
Answer by gdiamante at 4:22 PM on Dec. 9, 2009
Answer by Anonymous at 7:07 PM on Dec. 9, 2009
Answer by jewjewbee at 8:00 AM on Dec. 10, 2009
Answer by Anonymous at 9:16 AM on Dec. 10, 2009
Answer by jewjewbee at 9:27 AM on Dec. 10, 2009