7 signs you're spending more money than you can afford - Business Insider

5. Your rent or mortgage exceeds 30% of after-tax income

The standard measure of housing affordability in the US is 30% of pretax income. For example, someone with an annual salary of $50,000 should ideally spend less than $1,250 a month on housing costs. But that doesn't factor in taxes. A more helpful way to gauge whether you're overspending on housing is to try and limit your monthly expenses to 30% of your after-tax income. This can be tough to manage in a high cost-of-living city, but it's a good benchmark to aim for. Use6. You buy things to keep up with or impress your friends

If you're buying a ticket to every festival or joining every happy hour because that's what your friends are doing, it may be a sign you're spending more than you can afford. Social media exacerbates the "Keeping up with the Joneses" affliction many of us suffer from. You probably don't know the financial situation of each of your friends and assuming you can afford something because they can — or worse, you're trying to impress them — isn't a sustainable strategy.and big expenses should always be a part of your budget.

Why, I was so scandalized upon perusing this article that I almost choked on my aspic.

Well, wearing a top hat at a boozy picnic is definitely a good sign you might be splurging. The fanciest thing I bring to picnics is the Mediterranean scenery on my tub of hummus.

Jwkwkwkwkk

Anyone that has student loans or any kind of long term high interest debt should have a negative net worth, they shouldn't even be buying shit, they should be paying those loans off

We don't have enough money to spend on daily food..

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Carlos Ghosn: The inside story on his rise and fall, and what's next - Business InsiderCarlos Ghosn's transformation from business icon to international fugitive was entirely predictable, industry leaders say. But his next act could surprise everyone.
Source: BusinessInsider - 🏆 729. / 51 Read more »

7 times you're better off spending than saving - Business InsiderYou shouldn't cut corners when it comes to spending money on things that improve your health, happiness, or financial situation. Only if money earned is more than just to cover needs AGREED!! Everyone needs to read this🙌🏼
Source: BusinessInsider - 🏆 729. / 51 Read more »

5 restaurant executives and insiders reveal the industry's biggest challenges for 2020 - Business InsiderBusiness Insider spoke with five restaurant industry insiders about the biggest challenge facing the business in 2020.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Netflix is projected to spend over $17 billion on content in 2020 - Business InsiderNetflix is projected to shell out $17.3 billion on content over the course of 2020 – coming hot on the heels of Netflix dominating Oscar nominations. BMO Capital Markets has published a spending estimate that anticipates that Netflix will pay out $17.3 billion in content in 2020, up from the $15.3 billion invested in 2019 per variety. 6029 SOPHIA33277
Source: BusinessInsider - 🏆 729. / 51 Read more »

5 smart pieces of money advice financial planners will tell you for free - Business InsiderYou don't have to wait until you're ready to meet with a financial planner to get good at managing your money. Here's some free advice to get started.
Source: BusinessInsider - 🏆 729. / 51 Read more »