I’m not sure I can necessarily give suggestions. However, I agree it’s tough to keep things under 30% these days. I know the good loan programs recommend 38%. This doesn’t include utilities and such, only loan payment, taxes and insurance.

Thanks,
Shailesh

Something I remember from Crown that I always had a hard time with is the 30% they recommend for housing is all-inclusive of housing costs: mortgage or rent payment, utilities, and maintenance costs (e.g. HOA fees). Once you add all of those up, it is almost impossible to keep it to 30%. Costs for all of these things are going up and salaries are not going up proportionately.

Suggestions on this?

Jodi

Lani,

Good point.

The above budget is based on your net income. Your net income equals gross income minus giving/tithe, minus taxes. So, just to clarify for everyone if your household income is $100,000 per year then take away $10,000 (giving/tithe) and then take away about $22,000 or so (depending on your tax situation) and your net income for the year is $68,000.

It may be because I’m in Texas, but almost everyone I know gives at least 10% of all income away.

Regardless, I think this is a great article- I think that ANY company that can give you advice that isn’t inside the box is worth looking at!