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Anonymous
Budget/paying off debt 2017-03-12 08:28:24 Post No. 1852589
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Budget/paying off debt 2017-03-12 08:28:24 Post No. 1852589
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Let's say I have a debt of almost 200k.
Assuming a 100k salary that after taxes is cut to 70k, using liberal spending estimates:
>15k in rent/internet/phone/electric/gas
>7k in food/eating out (liberal estimate)
>4k in leisure activities (buying vidya/going out etc.)
>another 4k on random stuff
>total 30k cost of living at most, very liberal estimate
>however much car payment will be
I'd have 30-40k left over to pay debnts
Does this seem like a correct estimate to you guys?
Is this sort of estimate/budget feasible? Loan repayment spread over either 10 years or 30 years (obviously with the 30 year payment, you can pay to finish in 10 anyway).
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>>1852589
Depending, where do you live?
For example, real state and renting is 2 thirds cheaper in Detroit that in New York.
Rent is one of the biggest expenses that you must have in mind
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>>1852602
I already gave the figure for the expected rent/food.
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>>1852589
Seems reasonable, but if the debt is a low interest rate and you get a tax break on it you could just invest the money instead or use it for a down payment if owning makes sense in your location/you don't plan to move right away.
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>>1852607
No shit Sherlock
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