 IS the number on my ATM card my bank account number? |
| I'm perfectly dumb at this. I need to deposit checks at washington mutual, and I have the checks and my ATM card. Is this number (or series of numbers) on my ATM card the same as my bank account ... |
|
 How much percentage of your total income should go to housing costs? |
Out of your total income, how much percentage should go to rent or house payments?
Additional Details
25% is almost impossible in my case. a little less than 30% is what i am paying now..... |
|
 What is the cheapest way to send mail/packages from the US to canada?UPS, USPS? please inform.? |
| i recently sent something by us postal services and it is going to take 6 weeks and it end up costing me $25. so i'm always up for finding a cheaper way of doing buisness.... |
|
 How much should I charge for babysitting three kids in Orange County? |
| I would be babysitting a 3 year iold girl and 6 month year old twin girls. I'm a senior in high school and live in a wealthy neighborhood.... |
|
 What is a good place to hide my money in my room? |
| I've previously hid it in the following places and they have all been found: Under carpet, in air duct, in stuffed animal, behind a fake electrical outlet, in a soda can, under a drawer, under ... |
|
 How Can A Kid Make Money Without A Job? |
| I'm 14, and have another week or so, then away for a week, then another 5 days to work. So, in 12 days, are there any ways I can make good money worth the effort without a job. I can't ... |
|
 Does The National Lottery actually exist in the UK ? |
| I got an e-mail the other day stating that I had won The National Lottery in the UK. They want me to send money to a courier service to deliver my check or I have the option of picking it up.... |
|
 Can you apply for a loan as joint & then one person withdraw? |
What I mean is if my bf applies for example & me as 2nd name on the loan (joint) & then if we break up withdraw my name? so I won't be liable for the loan anymore.
Additional D... |
|
 I need a $600 loan quick for my rent or me & kids will be out of home. My credit is BADD I live in NC, HELP!!! |
| PLEEEASE, DOES ANYONE KNOW WHO CAN HELP ME, I'M DESPARATE, I'VE TRIED CREDIT CARDS & I'M GETTING DENIED FROM EVERYONE, DOES ANYONE KNOW ANY, ABSOLUTELY ANY BAD CREDIT LENDERS IN NC?... |
|
 Why have children - r u selfish or careless? |
| most people have children not to be alone when r ill and older. they dont have money to buy a flat for each child, but they dont care - so what that their children will spend 30+ years working hard ... |
|
 What to do with 15 million dollar? |
| Where to invest? What to do with it?... |
|
 I am financially broke and not sure how to fix it.? |
| I have bad credit and have not been able to make payments for the last 4 months. Now I have all my creditors asking for they money I owe them. I have a better job, but it will be a while before I can ... |
|
|  |
roxanne d | Are you broke because of a mortgage? |
I plan on buying soon, but the papers all say everyone is broke trying to pay the mortgage and live reasonably well too
the last week before payday is usually hard on the shops too so the papers say
i wonder if it's all worth it? |
 |
 
pocketdragon
 |
the problem with mortgages people are gettin mortgages that are out doin their actual wage. we had our own flat but cos of husbands wage we couldnt get on the next step of the ladder so we sold up and went into rented accomodation which is alot easier. |
|
ChocLover
 |
I rent a council house, some people say it's dead money but I don't have any kids to pass a house onto anyway and also if the boiler blows up or the roof caves in then I don't have to pay for it to be repaired.
Anyway, I can't afford to buy a house. Average price for a tiny 2 bed house where I live is at least £200,000. It is ridiculous. |
|
Kat the Great
|
Not broke yet fortunately but it is getting harder to keep up with the constant interest rate rises (I'm in Sydney)
Renting does have its pros I have realised - you get a much nicer place than you can afford to buy!! |
|
Goonhilda
|
The only people who are broke because of their mortgages are the ones that borrowed too much when rates were low, and based their repayments on joint incomes, or income levels that were not sustainable. I've got friends who borrowed far too much ($180 000 for a $190 000 home) who got turned down on their first application, but reapplied after doctoring their figures. Now he's working 3 and a half hours a week, and she's stuck at home looking after the baby.
I borrowed within my limit. My partner and I are only paying $50 more a week than we would if we were renting a similar house. We've made double repayments since we moved in. If one of us lost our job, we could easily survive on the other's income and make the repayments. We've paid 3 years worth of repayments in the first year, giving us a huge headstart and giving us a large cash resource to use in an emergency.
I'm broke by choice. I forgo a lot of unnecessary luxuries like holidays, overpriced late model cars, plasma screen televisions, eating out every week, and brand new clothes. I choose to do this because we intend to pay our house off within 5 years. Then I won't be broke. I'll be miles ahead of many of our friends, who borrowed too much because they are on much higher incomes.
Do your figures and allow for interest rates to rise to record highs in your estimations. Then save a huge deposit so you don't have to borrow as much. If you're careful and do these two things, and also put as much into the loan as you can (if it has a redraw facility) you'll be fine. It's like wearing a seatbelt or a bike helmet. You do little things to protect you against unforseen events, and they end up paying off big time.
Best wishes
Edit: Jehida, I'm an Aussie. Australia's rates are currently set at 7.25, which means repayments are closer to 8.75%. In the mid 80s we were paying 22% interest on homeloans. Scary, huh?! |
|
Buddy
|
Nope thankfully |
|
krystle
|
I took a second job as a result |
|
Woody Black
|
I would struggle with a mortgage. If I had one - yes, I would be broke all the time.
Its not for me right now. |
|
leambi
|
Just dont live beyond your means, save a big deposit and only borrow what you can actually afford even if that isnt as much as you want. |
|
jehidia
 |
Some say the possibility of interest rates going to 7-8% in the next few years. Shop around, get good advice and do a really good budget.
I`m not sure about that 7-8 %, but as I don`t have a mortagage, I`m hoping it will be 15%. |
|
bec
 |
No but I'd be rolling in cash if we were renting.
I don't like the insecurity of renting though and I like being able to do what I want to my house.
Only buy if you see it as a long term choice and investment, and if you know you can comfortably afford the mortgage. It's easy to move into cheaper rented accommodations if times are hard, but not easy to sell a house in a difficult market if you are struggling. |
|
Veronica Alicia
|
We had some problems and needed to tighten our belts but I'm sure that having to restrict things like alcohol (to special occasions), holidays and expensive leisure activities probably worked in our favour in the long term.
Although rates of interest on a mortgage fluctuate, they usually stayed within manageable proportions if we were careful. By the time we retired we were living "rent-free" so then we could afford to buy and do pretty much everything we wanted to. Friends who opted for the renting route are still paying rent and it rises every year.
Don't forget that although the price of property also fluctuates, the general trend is up. Our 4-bedroomed, detached house 30 years ago, cost £15,500; to buy it now we would have to find a mortgage for £200,000.
You may have to modify your thoughts on "living reasonably well". If it means Clubbing every week and a new outfit each time, then you may be facing problems. |
|
Twinkles
|
I'm not broke because of our mortgage but some people are struggling. However, this is mainly because they either borrowed too much against their income to start with or their circumstances have changed. The media need stories to keep them in business and so can stretch the truth to get a bigger coverage. In some cases it makes the problem worse because they have everyone running around panicking!
When taking out a mortgage you should put together a budget planner. Be realistic in all your costs and include those little luxuries if you want to carry on having them. Also build in a contingency amount so that you have some money for emergencies or if interest rates increase. This way you know how much you can afford to pay and if this means you can't get a big enough mortgage to buy what you want then you know it isn't time yet.
Hope this helps. |
|
Charles K
 |
you have to assess the situation for yourself and see if you can actually afford it. it's a buyer's market right now, so i'd say go for it. most of the people that are broke are the ones who really couldn't afford it and are being screwed by the ARMs and what not. |
|
Akatora
|
Guys, give her a simple answer...
Is it worth it or not....
If you are an employee and want to be an employee all your life then its NOT worth it...
If you're planning to become a businesswoman or at least have an deep-seated urgency to become one...
THEN its a so-so...
But if you are already businesswoman or an investor then its worth it...
Manage you finances well and you can pay it cash...
MORTGAGE NOT NEEDED... |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
14 | 10 minutes(s) ago
| | | |
14 | 23 minutes(s) ago
| | | |
14 | 38 minutes(s) ago
| | | |
14 | 2 hour(s) ago
| | | |
14 | 4 hour(s) ago
| | | |
14 | 8 hour(s) ago
| | | |
14 | 9 hour(s) ago
| | | |
14 | 1 day(s) ago
| | | |
14 | 6 day(s) ago
| | | |
11 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
