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Finance Tip of the Day

How Much Should I Spend on Housing?

  • 2016 2 Sep
How Much Should I Spend on Housing?


How Much Should I Spend on Housing?

Even though everyone’s situation is different, housing expense should be considered very carefully before you say “yes” to a 15 or 30 year mortgage.

We believe that in order to protect yourself from overspending and from stretching yourself too thin, you should not spend more than 20-25% of your take home pay on your housing (mortgage, insurance and taxes).

Today's tip brought to you by Mvelopes and Money4Life Coaching.