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Finance Tip of the Day

Determine What You Can Afford

  • 2017 9 Aug
Determine What You Can Afford


First-Time Home Buying Finances Tip #2: Determine What You Can Afford

We recommend not paying more than 25 to 30 percent of your monthly household income on mortgage payments, taxes, and insurance premiums. If you can’t afford it now, you certainly won’t be able to afford it later—that is, unless you know ahead of time certain changes to your financial situation coming in the near future, like a promotion or inheritance.

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