How much can I afford?

Question

Is there any sites out there that you can say "this is how much I bring home", I should figure ?% for rent, ?% for utilities, etc. I'm really trying very hard to get financially back on track. I've recently paid off a chapter 13 and I'd like to slowly save for purchasing a home in maybe 5 years at the most. Thank you in advance

Answer 1

yes there is go to sample budget sheets on web search

Answer 2

I know of no sights due to the fact that everyone will have a different opinion of what % everything should cost.

In my opinion.... If you want to be financially independent in the future, you need to start now!! ONLY buy a home that is worth two years of y our income!! Drive your car/truck for at least 7 to 10 years. Do NOT ring up credit cards and NOT pay the off monthly!!! Start purchasing things that make you money rather than things that cost you money, such a s stock, mutual funds, other investments.

Follow these simple guidelines and life will get better everyday!!

Answer 3

You can't figure out how to do that by hand? That would be the most accurate way.

Write down all of your liabilities (rent, car payment, insurance, utilities, entertainment, 401k, etc.)

Write down your income.

Subtract

With the money left over, look at investing in a 5 year mutual fund.

Answer 4

No I cant think of any sites, but the best thing is, write everything down, work it out, and come to a conclusion. It might be hard, but if you work on it, it should go by pretty fast (i know my mother wanted me to be "prepared" and practice, lol) Just writ down how much you make a month, write down all of your monthly bills and sbtract them, then u work in any other expenses you have, hope Ive helped a little.

Answer 5

all the answers above are good
visit daveramsey.com to get a better grasp on financial lifestyle and learn what the bankers will not tell you.