17 responses

  1. supwithyou
    February 2, 2013

    When you say 25% of net income, do you include insurance and taxes? Taxes in my town are very expensive.

    • Dominique Brown
      February 2, 2013

      Yes, but if you do go higher than 25% you have to limit the other things… your call though

  2. Tanya
    August 29, 2012

    Good tips. I've always went by the standard that the home payment should be 33%, but 25% is even better.

    • URFinanceSimple
      August 29, 2012

      I use 25% of net income.. Are you using 33% of net or gross income?

  3. MastertheArtofSaving
    August 21, 2012

    Interesting. I'm currently doing #2 while we're waiting to close on our first house. I'm calling it "pretend mortgage & bills payments." Also, I'm putting it straight into savings. Great tips. :-)

    -Jen
    My recent post My Plan to Save a LOT of Money

    • URFinanceSimple
      August 21, 2012

      Jen,I'm glad you are ahead of the game. How do you like your life with the new mortgage payments? On Tue, Aug 21, 2012 at 8:33 PM, YFS <yourfinancessimplified@gmail.com> wrote: approve

  4. Frank Barnes
    August 21, 2012

    Good article man, I have never heard of the pre-planned mortgage test on your finances that is a cool idea.

    • URFinanceSimple
      August 21, 2012

      Haha… I told you it\’s a home buying tip you never heard of :-). This literally saved my family financially during the home buying boom. It\’s the main reason why we didn\’t jump right into the housing market when everyone bought one.

  5. AverageJoe
    August 20, 2012

    Whenever I've told people to practice paying their mortgage they treat it like it's the most novel advice they've ever heard. Why go into a mortgage cold if you aren't sure how it'll really change your lifestyle? Great tip.
    My recent post 2 Guys & Your Money Episode #007: Jeff Rose Interview – The Life Insurance Movement

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