Originally Posted by
Ewfflyer
I make less than $50k, support myself, my wife, and putting her through another 2 yrs of college. I rent a house, have her 04' car payments, mines paid for, I own 2 motorcycles, college loan payment, and I've been on 3 small-ish vacations this year, plus already put down money on a Vegas vacation this winter. We're seriously looking at a house(about $200k+ range) in the next 9 months as we have a very nice savings that can easily be used for down-payment and what's left will supplement on the mortgage payments until she graduates in May.
It's not just about the "amount" of money you make, it's about how you spend it. I don't go buying stuff just because. Everything I buy has to be able to be paid for in short order.
So I guess that whole not making any financial sense thing must not be working for me. Then again, I don't work for an airline either, and I'm home most nights, wife just went with me last week down to FL for recurrent training, and our business has actually picked up recently.....go figure.
I make less than 50K and I gotta tell ya , unless your wife is bringing in a lot more than you, 200K houses and multiples vacations don't add up on that salary. To save up 40K for that down payment (20%) on 50K pre tax you've must been going at it for a while now. I don't have a car payment, have less monthly debt obligations than you listed and there's no way I'd be able to afford a 200K house on that monthly cash flow. I rent for cheap too so I doubt you can save more than 1500/mo after tax, and that isn't cutting it either for the kind of house you're talking about. You're either about to overextend yourself big time or your folks set ya on easy street down payment wise (I asked mine, surprise they won't hook me up lol). I commend you and identify with your judicious approach to finances, but I gotta pull the BS flag on the reach of that 50K, cause I'm in that bracket and that doesn't get anywhere near to what it's required to fully fund a household, I live in the Southeast which is not as expensive either FWIW.