Paycheck to Paycheck - New home owner reality

[DallasBaluKarry]

1 hour ago, Sonu_Patel said:

Last night sitting lo friend shared his expenses every month. he is very active on Facebook, Instagram and Tiktok all the time. 

- House Mortgage Payment - $3800 for next 30 years

- TESLA payment - $1300 for next 5 years

- Utility bills(Gas, water, power, Internet, phone)  - $500

- Auto Insurance - $150 

-Take home salary - Net $5500 after 401k, health and other deductions. 

he is unable to clear credit card bills because there is no room to pay for the Monthly, groceries, shopping and other miscellaneous expenses. 

 

 

Wife works? Ask his wife to do any job. 

[dreamchaser]

27 minutes ago, dreamchaser said:

Please give advice on my strategy.Planning to buy a 600k home with 300k$ downpayment.Total Income is currently 200k in Georgia.Single income.13 years experience in US .With this I will be paying than less than 2500$ mortgage per month.I have GC.Worst case I can work in some grocery store and still I can pay 2500$ mortgage if I loose my IT job

any feedback?

[Aquaman]

17 minutes ago, DallasBaluKarry said:

Wife works? Ask his wife to do any job. 

andharu oorukoru anna.  ma kuthur tho job chepisthava ani in laws will start disco

[Sonu_Patel]

21 minutes ago, dreamchaser said:

any feedback?

Grocery store lo work enduku anna.. ah paisal tho direct grocery story koni mingu. 

[hydusguy]

25 minutes ago, dreamchaser said:

any feedback?

i prefer 200k down.. and 100k emergency fund in case of layoffs or anything else

[dreamchaser]

9 minutes ago, Sonu_Patel said:

Grocery store lo work enduku anna.. ah paisal tho direct grocery story koni mingu. 

just think about worst case bro..GC undi..30 years mortgage kadha ..oka vela IT mottam damal ayithe alternative jobs chusukovali 

[FrustratedVuncle]

1 hour ago, Sonu_Patel said:

3 years exp.. FT .. around 115k anadu last year when he moved to texas. 

115k is gross and other deductions untae ga. 401k and health insurance, medical, dental, vision for couple and taxes. 

submissive ga he bought 550k home which is just basic starter. 

DFW lo 115k single salary ki after all 401k, health insurance other cuts should get 6.5k easily.

3yrs experienced ki 115k istunnara DFW lo. Me vadu lucky in that regard.

[rmJU72]

1 hour ago, Sonu_Patel said:

Last night sitting lo friend shared his expenses every month. he is very active on Facebook, Instagram and Tiktok all the time. 

- House Mortgage Payment - $3800 for next 30 years

- TESLA payment - $1300 for next 5 years

- Utility bills(Gas, water, power, Internet, phone)  - $500

- Auto Insurance - $150 

-Take home salary - Net $5500 after 401k, health and other deductions. 

he is unable to clear credit card bills because there is no room to pay for the Monthly, groceries, shopping and other miscellaneous expenses. 

 

 

Most people are asking to cut down his expenses or shame him. I think these are ok as long as the person has visa and capable of getting a better job. Tesla was unnecessary though.

Just ask him to jump to a better job paying atleast 50% more and he will be set. of course he has to make sure this situation doesn’t happen again before income increases.

[mustang302]

Assam . Family life, financial security rendu poinattae.

K.A Paul ae kapadali ne frnd ki ika.

[rmJU72]

51 minutes ago, dreamchaser said:

any feedback?

Why are you paying 50% downpayment? Just pay 20% and invest the rest. You might also be able to refi later.

 

[FrustratedVuncle]

1 hour ago, dreamchaser said:

Please give advice on my strategy.Planning to buy a 600k home with 300k$ downpayment.Total Income is currently 200k in Georgia.Single income.13 years experience in US .With this I will be paying than less than 2500$ mortgage per month.I have GC.Worst case I can work in some grocery store and still I can pay 2500$ mortgage if I loose my IT job

120k down chesi, 180k ni edaina investment chesko anna if you can beat Current Mortgage rate 6% ROI.

If you do not have any investment ideas, Gundela meda cheyyi veskoni konukko 

[FrustratedVuncle]

1 hour ago, Sonu_Patel said:

Earnings

$9,583.33

Salary

$9,583.33

Taxes

−$1,519.15

Federal Income Tax

−$870.17

Social Security Tax

−$525.97

Medicare Tax

−$123.01

 

Benefits

−$2,537.50

Medical

−$1,100.00

401(k)

−$1,437.50

Take Home

$5,526.68

Benefits - 2.5k? em benefits annai avi?

[Telugodura456]

1 hour ago, dasari4kntr said:

benefits ki intha avutunda…? malli 401k and medical seperate gaa vundi…

asalu emi benefits bro avi..?

401k deduction ..medical can be preimums (1000 untai konni companies lo) and maybe hsa deduction also.

[Telugodura456]

1 minute ago, FrustratedVuncle said:

Benefits - 2.5k? em benefits anna avi?

undhia ga clear ga ...1.5k 401k savings and 1k medical insurance related costs.

[dasari4kntr]

1 minute ago, Telugodura456 said:

401k deduction ..medical can be preimums (1000 untai konni companies lo) and maybe hsa deduction also.

medical insurance and HSA rendu avasarama..?