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Frugalistas Frugalistas

opinions please

Posted by on Feb. 10, 2013 at 9:06 AM
  • 29 Replies
How much should you spend on rent / mortgage when you take home $4600 a month. We have little debt.
by on Feb. 10, 2013 at 9:06 AM
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Replies (1-10):
kjbugsmom1517
by Member on Feb. 10, 2013 at 9:09 AM
They say no more than 30 percent
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cherishhope
by Member on Feb. 10, 2013 at 9:12 AM
Also what is everyone percentage to income on housing?
Moki75
by Bronze Member on Feb. 10, 2013 at 10:28 AM

we pay right at 1/3 of our take home for our housing.  that doesn't include utilities etc

mybratsmom
by Silver Member on Feb. 10, 2013 at 10:28 AM
Mines at 29%: mortgage, homeowners insurance, and property taxes.
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michiganmom116
by Rhonda on Feb. 10, 2013 at 10:41 AM
1 mom liked this

my dad always told me 25% was a good rule for housing. 

we pay about 5.5%...no mortgage, just insurance and property taxes.

Lindalou907
by Bronze Member on Feb. 10, 2013 at 11:33 AM

If it's a mortgage I would go up to 30%, because it's a great time to buy, and your income will usually rise over time. I kind of wish we had stretched a little and spent more for our home. If it's rent I would spend as little as possible and save every dime to buy something.

mamabearlehman
by Silver Member on Feb. 10, 2013 at 11:37 AM

 25%

specialwingz
by Corey on Feb. 10, 2013 at 11:42 AM
1 mom liked this

I never went more than 25%.  It allowed me room to apply additional principal and pay off things way ahead of time.  Now, I am debt-free now.  No mortgage, no loans, only utilities and groceries.

cherishhope
by Member on Feb. 10, 2013 at 11:49 AM

BUMP!

cherishhope
by Member on Feb. 10, 2013 at 12:46 PM
We are needing to move and we are looking at paying $1200 a month on a after tax $4600 a month income. Sometimes more but I do not count that. Does $1200 seem reasonable?? We have always lived so far below our means but are ready for a "good" and safe place to live and are willing to pay more.
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