Why You Should Be Skeptical of Financial “Rules of Thumb”
Prairie Eco-Thrifter
MAY 1, 2013
If you are buying a home, start with the 30% rule, and then evaluate where that puts you in terms of finances. If you bring home $4,500 each month, are you truly comfortable with putting $1,350 of it toward a mortgage payment? And what happens when you add in property taxes, utility, home insurance, and maintenance?
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