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| TommyT-Bone | Middle Class? | ||
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Chair-man of the bored
 
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Posted on: 2010/3/25 19:33
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| TommyT-Bone | Re: Middle Class? | ||
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Chair-man of the bored
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Quote:
Add all the figures suggested in the story and see if it comes to 18%. |
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Posted on: 2010/3/25 19:38
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| TommyT-Bone | Re: Middle Class? | ||
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Chair-man of the bored
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Posted on: 2010/3/25 19:48
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| BillH | Re: Middle Class? | ||
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The Stig Moderator
 
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18%, Pfttt, Yea, all the real estate sales people told everyone "You should only spend 18% on PITI and credit cards". They're so honest.
 Hell, I spend 18% on beer & pizza.  |
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Posted on: 2010/3/25 20:12
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| Matatk | Re: Middle Class? | ||
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I'd say those numbers are pretty accurate for my situation.
Matthew |
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Posted on: 2010/3/25 22:02
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2002 EBM convertible, Magnusson supercharger, cam, headers, etc. 1989 Corvette...RIP |
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| TommyT-Bone | Re: Middle Class? | ||
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Chair-man of the bored
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Just seemed that it would have been a higher percentage of the total income to me. I'm at 0.0% outside of the taxes and insurance right now but I could easily slip into 25% especially if I bought one of those $45,000 cars.
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Posted on: 2010/3/25 22:48
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| Matatk | Re: Middle Class? | ||
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Well, I certainly didn't buy a $45,000 car. Maybe those are the same ones who bought the $400,000 houses with the foreclosure signs on the front lawn.
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Posted on: 2010/3/26 11:17
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2002 EBM convertible, Magnusson supercharger, cam, headers, etc. 1989 Corvette...RIP |
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| BillH | Re: Middle Class? | ||
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The Stig Moderator
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Quote:
The figure I always heard (including what was taught in real estate school) was 30%. Look at the median $81k in income @ 18% = $14,580/yr towards all debt but then they say the average home morgage alone is $17,600/yr. And if you're in the low end of middle class makin' $51k, 18% = $765 a month. Take away $100 for credit cards and you got $665/mo. So the article says: If your in the middle class but at the lower end, you can afford to live in the GETTO? |
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Posted on: 2010/3/26 13:43
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| CentralCoaster | Re: Middle Class? | ||
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At $765/mo you'll be lucky to find a place to rent in the ghetto.
The irony is if people stayed around that 18% to begin with, we wouldn't be in this situation. I think most people in SD are way higher than that. I should be talking. I pay almost 50% towards interest. And I don't even have a car payment. |
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Posted on: 2010/3/26 14:45
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| cuisinartvette | Re: Middle Class? | ||
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Elite Guru
 
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$765 wont even get you a bachelor apt out here. 40-50k is damn near poverty level..about where Im at and I certainly cant make it on that even with renting the extra room out and I dont spend money on a damn thing . No new clothes, eating out, etc.
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Posted on: 2010/3/26 15:47
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