Just curious what people think, when i buy my first home (any day now one way or another) how many payments should i have in the bank??? I personally am planning on 24 months worth after the first of the year, yet my wife is still uncomfortable about going from renting to owning financially.
Are we nuts?!?!!??!?!!
I don't spell check! Sorry... If you include "No offense" in a statement, chances are, your statement is offensive.
Good idea.....especially now.....try to hold back on that urge to 'hurry hurry buy new appliances etc'.....take your time you're not going anywhere,,,hopefully....glad to have you....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Just remember, you're actually buying at one of the good times. Prices are going down. The fact that you're going from renting to owning is a good step. Now, your payments are paying someone else's mortgage. Once you buy, you're paying your own, essentially investing in your own future instead of someone elses. As far as number of payments in the bank, I don't know. I think I would look at paying off some smaller bills if you have the money to put away 2 years of payments on a mortgage. Either that or put that all down on the mortgage, lowering your payments or knocking some time off of it right up front saving you thousands in interest over time.
RULE OF THUMB.....One years salary in the bank. Enough to live on and pay your bills if you should become unemployed.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I actually spend the morning to write up some plans for the wife.. 1 was if we stop saving and instead pay off bills.. 1 was same but including our tax return toward bills..
Looks like we can get out of our college loans and car paments by the end of 2011 not too bad i think, we are both 30 but both just graduated and had our first kid last fall.. I am really feeling the debt pressure, but it's good to see that there is actually a light at the end of the tunnel.
God going from owning to renting is stressful, thanks to everyone for answering my million questions here.. it's good to have some adults to talk to, alot of my friends are still at the "sure i'm late on rent, but i'm just got this Flatscreen!!" mentality.
I don't spell check! Sorry... If you include "No offense" in a statement, chances are, your statement is offensive.
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