Advertisement

FOLLOW US

OUR BLOG

The Best Reasons to Start a New Blog

If you’re on the internet a lot, you’ll realize that it’s filled with blogs of all shapes, sizes, and stripes. Many are utilized by businesses as a way of extending their brand and pulling in more customers. Others are just people who are taking advantage of a platform so that they can put…

Getting to Know the Lactation Lab

Whether you’re a first-time mom or a…

Latest Activity

Emma Miah posted a blog post
2 hours ago
Hajar posted photos
6 hours ago
Hajar commented on Francine Sanchez's group 'Let's Enter Each others Giveaways'
8 hours ago
Hajar joined Francine Sanchez's group
8 hours ago
Hajar liked Francine Sanchez's group Let's Enter Each others Giveaways
8 hours ago
Hajar replied to Single Mom Talk Blog's discussion 'Post Your Blog Links for fresh follows for 2017 !!'
8 hours ago
Hajar updated their profile
9 hours ago
Hajar posted a status
"I have a giveaway advertised on my Facebook Blog page: Come. Like. Get the link and get a freebie for the holidays."
9 hours ago

OUR DAILY PINS

Advertisements

TRENDING BLOG POSTS

So a baby is on the way (or perhaps ANOTHER baby is on the way)!  It's so exciting to walk about the house deciding how to decorate the nursery or jump in your 2-door car for a quick run out to the closest baby store.  Until you realize "where are we gonna put this thing?"  (And by thing I lovingly mean the bundle of joy growing ever so quickly in your belly). Now by no means do I advocate getting a larger house or car just because your family is expanding.  What I do advocate is spending a bit of time organizing your finances to clearly see what you can reasonably afford if you do find that you would like to find a larger house or car. 

If you are looking to expand your residence, there are a couple general rules to follow so you don't find yourself "house poor" with an additional mouth to feed.  Whether looking to buy or rent, your total monthly payment for housing should be no more than 28% of your gross monthly income (that is, your income before taxes).  When purchasing a home, this would include your mortgage principle plus any interest, taxes or insurance included in your monthly payment.  Depending on your tax rate and loan interest rate, these costs can figure anywhere from 10-20% of your monthly payment.  Once you have a ballpark figure, a mortgage loan officer at your bank or a real estate agent can help you solidify a price range you feel comfortable searching in.

Here is a simple formula to see how much car you can get for your available bucks.  This should give you an ideal price range in that will fit your budget and your needs: 
  1. Figure out what you can afford to pay monthly and multiply it by the number of months you would like to pay (typically 35, 48 or 60 months).  
  2. Add to that amount any down payment or trade-in value you may have.  
  3. Now subtract out any taxes (around 7-8%) and loan interest (2-7%).

By spending some time organizing your finances and figuring out what you can afford, you can alleviate some of stress related to your upcoming family addition.  If you need further information, please consult a financial planner.  Now if I could only come up with a formula for alleviating the stress of labor pains.

 

http://organized-mama.blogspot.com/2011/11/and-baby-makeslife-expen...

Views: 15

Comment

You need to be a member of Mom Bloggers Club to add comments!

Join Mom Bloggers Club

© 2017   Created by Mom Bloggers Club.   Powered by

Badges  |  Report an Issue  |  Terms of Service