How Do I Know When I Can Afford A House?

How Do I Know When I Can Afford A House?

The new Borrowed Future uncovers the dark side of the student loan industry and exposes how the system is built to work against you.

Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!

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• The Ramsey Show (Highlights):

[diceportz]

My daughter had to admit that opening a saving account and saving that first $1000, was one of the best stress busters she ever did.

[Sizukun]

I don't think Dave emphacized it enough: when calamity/tragedy/life happens to you and you have money in the bank to deal with it, it may be a crummy situation but it doesn't make you want to pull your hair out. A $4000 AC repair isn't fun, but you don't start wondering how to pay for food next month, you just pay it and grumble.

[macneoh]

25% of my take-home can't afford to live in my car.

[bjkarana]

You're ready for a house when you feel like spending a weekend putting on a storm door instead of going out with your friends.

[robpugh]

Dave & John are, hands down, the best hosting combo.

[TrHard]

I work with a guy that has to work 60 hrs a week just to break even making 19/hr and another that lives with his parents and has a $550 car payment with $200 insurances which is 50% of his income. I lose my mind seeing people throw away their potential like that.

[BrandonJAguirre]

This is some Good stuff brother Dave!! I just added this clip to my favorites on YouTube!!!! Love it; you speakin Truth!

[clarks]

Hate to say it but IMO, Dave gave some bad advice. You should NOT include your bonus as part of your income because bonuses are not guaranteed income and should never be considered as such. That’s like thinking Overtime is part of your guaranteed income. Just my thoughts on that part of the subject.

[montieltonymontiel]

This is why I listen to Ramsey! Soild great advice. Thank you for the upload and all the best in 2022 !

[Alone-vqbw]

Financial trauma is real and it’s holding me back

[fhuber]

Don't make yourself "house poor."
That just leads to selling the house to prevent foreclosure.

[JoannaVentour]

I would 100% buy a book on how to deal with financial trauma

[markg]

Most dont ask that question...they just do it and see what happens.

[MarkFinance]

There's the financial side, and then there's the emotional and personal side. In my own experience, I've been ready to buy a home for quite a while financially, but only now I'm starting to get to a place where I'm ready to make that leap. Buying her home isn't just a financial responsibility, it also constraints the amount of work opportunities you can consider without serious changes in your life.

[mstberg]

How does Dave's 25% rule work in CA? If everyone in CA had to abide by that, very few would ever be able to buy a house. They would be doomed to being tenants forever.

[marram]

We've always bought houses for less than 25% of take-home pay.

[crysishero]

There is something really moronic in thinking you have to pay everything in cash, meanwhile inflation is going through the roof and wages are not even close to catching up

[birdyboy]

Much to factor into the equation. For ex. IF you live in NE states where annual property tax is 24K and you consider the cost to MOVE your belongings, moving to rent is a costly endeavor. You will surely save in property tax, but may lose it all in moving fees if you are going to rent & have to move again. Wish there were honest unbiased consultants to give you aid & direction depending on your specific circumstances (realtors are not generally upfront).

[blindmelonchitlin]

Because I figured out many years ago that "news" from whatever source it comes is neither a truthful telling of anything that has happened nor anything but a stressor I turned most of it off about 1990. I trusted one news source until about 2002; that was the network that was always saying, "We report. You decide." It took me until 2002 to understand that the only problem with that approach was that they had already DECIDED what they would report, and that therefore they were completely useless. I listened to Limbaugh, Hannity, and the like for a number of years until I realized that they were only describing the absurdities that anyone awake could already see and understand.
Some would tell me that I am uninformed. So what? Is that really any worse than willfully being misinformed? If ignorance is bliss, at least it is the bliss of being unbothered.

[mao_lang]

Yeah I have a friend of mine that doesn’t have to make payments on anything, he lives in his moms basement 😂