An old rule of thumb said that you could afford to buy a house that cost between one and a half and two and a half times your annual salary. In reality, there's a lot more to take into consideration. You'll want to know not only how much of a mortgage you qualify for, but also how much you can afford to spend on a home. In order to know how much you can truly afford, you need to take an honest look at your lifestyle and your standard of living, as well as your income and what you choose to spend it on.
Children are a special blessing and their arrival brings boundless love and joy into our lives that you can't put a price on. But adding a child to the household impacts the family budget (and women especially) in very measurable ways. Whether this is your first child or your fourth, here are some financial matters to think about and plan for before and after your child arrives.
Welcome to the “engagement season” where nearly 40% of engagements take place. Tomorrow is the day where a number of couples will decide to embark on a new journey of combining their lives. If you find yourself among the others, have you thought about the enormous responsibility of combining your personal finances with your spouse's, and reassessing the way you and your spouse structured personal finances as unmarried individuals? If not, you may want to start thinking about it!