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-> Household Management
-> Finances
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amother
OP
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 Thu, Mar 14 2024, 9:17 pm
Me breakdown a budget and figure out if something is liveable.
How can I figure out if I can move somewhere? Obviously knowing projected salary, raises etc
And knowing cost of living
My questions are:
A. is there a certain percentage that raises should be to be considered reasonable? Or is there a range?
B. Seeking help understanding how I can know how much house I can afford?
C. Seeking help understanding how much car I can afford?
D. What's the percentage of income (or range) that should go to home?
E. To car?
F. To other expenses?
G. To long term savings?
H. To short term savings? Is this a thing?
I. What do I do with savings? Invest, right? How much needs to be invested? I.e. what are the parameters? Is it a certain percentage? Or amount? Or something else?
I know this is a huge topic and takes lots of learning etc, I have learned some basic son the subject but I don't think some of the percentages would be accurate for frum living as it is so different from the general population's way of life, expenses, etc
I'd really appreciate if there's anyone here who is knowledgeable about these things can help me understand more what I need to know and how to understand if something makes sense for me? Thank you and tizku lmitzvos
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amother
OP
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Thu, Mar 14 2024, 9:53 pm
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Are there any resources where I can learn more about this? In a way that's actually practical and relevant to a Frum lifestyle, where the numbers will actually add up
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InnerPrincess
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Thu, Mar 14 2024, 9:56 pm
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ellacoe
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Thu, Mar 14 2024, 10:15 pm
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It might be worth it to meet with a financial planner for an hour or two and work it through with them. They can do projections of different scenarios with you.
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Princess23
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Thu, Mar 14 2024, 11:05 pm
| amother OP wrote: | Me breakdown a budget and figure out if something is liveable.
How can I figure out if I can move somewhere? Obviously knowing projected salary, raises etc
And knowing cost of living
My questions are:
A. is there a certain percentage that raises should be to be considered reasonable? Or is there a range?
B. Seeking help understanding how I can know how much house I can afford?
C. Seeking help understanding how much car I can afford?
D. What's the percentage of income (or range) that should go to home?
E. To car?
F. To other expenses?
G. To long term savings?
H. To short term savings? Is this a thing?
I. What do I do with savings? Invest, right? How much needs to be invested? I.e. what are the parameters? Is it a certain percentage? Or amount? Or something else?
I know this is a huge topic and takes lots of learning etc, I have learned some basic son the subject but I don't think some of the percentages would be accurate for frum living as it is so different from the general population's way of life, expenses, etc
I'd really appreciate if there's anyone here who is knowledgeable about these things can help me understand more what I need to know and how to understand if something makes sense for me? Thank you and tizku lmitzvos |
I wouldn’t trust the internet. Find a good financial advisor to go to.
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