I recently came across guidance modeled on Dave Ramsey’s approach that recommends keeping your mortgage under 25% of your net income. Even though I bought a house at least $200k below my maximum spending limit, my mortgage payment still exceeds that limit. I’m interested in hearing how you handle this—do you manage to keep your monthly mortgage expenses within a certain percentage of your income?
In my case, I work to maintain my mortgage payments at around 25% of my net monthly income. This approach provides a good balance between building equity in my home and retaining enough funds for other essential needs and savings. I have found that allocating a precise fraction of my income to housing costs helps mitigate financial pressure while allowing for year-to-year flexibility. Over time, keeping this balance has granted me greater financial control and reduced stress during more volatile periods in the market.
i stick to about 28% of my net income for my house. its a bit over what some suggest but gives me leeway for those sneaky extras and bills. works ok so far, though im always tweaking my budget when needed.
I’ve settled at around 27% of my net income for the mortgage. It keeps things rough but manageable. I’m curious—how do you adjust when unexpected expenses crop up? Any creative budgeting tricks that have worked for you?
I usually handle my mortgage at around 30% of my net monthly income. It sometimes requires juggling with other expenses, which makes budgeting interesting. How do you adjust when your mortgage payment feels like it’s stretching your budget too thin?