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I'm assuming your monthly income is after tax, correct?
Did you also include health insurance in your expenses?
Credit card bills? Do you mean you have a balance you down pay every month?
Yes the monthly income is after taxes. Health insurance is included. The credit card bill is my girlfriends and yes she down pays it every month but it's really not that much money. She just got her first real job about 2 weeks ago (she's straight out of grad school) so she'll be able to pay it off pretty soon.
Credit card bills? Do you mean you have a balance you down pay every month?
i found it interesting when i was doing those calculators for myself that they expect you to put the minimum payment on credit cards. as if i would ever only make the minimum payment and pay credit card interest. id hate myself if i ever paid credit card interest.
Our combined monthly expenses - $2,406 (this includes credit card bills, car, car insurance, gas, etc...)
Our combined monthly income is $6,800 (this is on the safe side, I usually work some OT and make more)
So that leaves us with $2,396 for utilities/savings/everything else.
Is it just me or are we left with too tight of a budget?
If I remember correctly, you are living with your parents right now.
I'm assuming most of your monthly expenses between the two of you are there whether or not you buy this condo. (the 2406)
And I think you said you are paying $500 to live with your parents right now.
I would go batty living at home, so for me, it would be a choice between renting and buying this. IOW, don't compare your current situation to this, compare renting to this.
I think the numbers seem fine. 2300 left is plenty IMO after all the other bills are paid. Maybe make a rough estimate for utilities and put that up with expenses, along with cable and cells too if you haven't already.
Our combined monthly expenses - $2,406 (this includes credit card bills, car, car insurance, gas, etc...)
Our combined monthly income is $6,800 (this is on the safe side, I usually work some OT and make more)
So that leaves us with $2,396 for utilities/savings/everything else.
Is it just me or are we left with too tight of a budget?
Keep going. I think people get in trouble like this. Make as complete a budget as possible. Put in utilities. Put in savings. Put in going out to eat. Otherwise one of those areas is going to get the short end and it would probably be your savings.
Keep going. I think people get in trouble like this. Make as complete a budget as possible. Put in utilities. Put in savings. Put in going out to eat. Otherwise one of those areas is going to get the short end and it would probably be your savings.
Yeah good point. I'm also trying to lease trade my car which is very expensive. That's going to free up a lot of money. It was fun while it lasted but it has to go
BTW anyone interested in taking over a lease on a 2010 BMW?
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