My dad told me the general rule of thumb was that the house should not cost more than double your income, and a new car should not lost more than half your income.
That left enough, allegedly, to live on with mortgage and car payments.
This entitled generation thinks they’re the first ones that every struggled financially or had trouble affording a house and it has caused a lot of bitterness and anger against people who had nothing to do with where the young people are today.
Mr. mm and I cut corners and pinched pennies to make ends meet on his income alone. We bought what we could afford and refused to go into debt for anything.
My two daughters are FANTASTIC with money. They know how to save, which includes doing without some of the little things she enjoys but are not essential. My youngest is now learning how to do her own home maintenance from her father to continue to save money. And saving she does, because we know what the costs are for plumbers and electricians.
A lot of times, having both spouses working isn’t worth it, when you tally up the costs it takes to have both parents workings, especially day care, the extra clothing and transportation costs, etc.
BINGO!!!