23 Personal Finance Principles

How masculine men handle money

This should all be taught in school, especially to men who want to have large families one day.

But it's not.

1. Your rent/housing should be less than 30% of your gross income.

2. Just because you get approved for a mortgage doesn't mean you can actually AFFORD it: ideally, all your housing-related payments should be under 30% of your NET income.

3. The total yearly cost of your car (monthly payments plus regular repairs/maintenance but not fuel) should be 10% of your gross income max, and most people should just buy a 3-5yr old car in cash for 25% of their gross income then own it for 10+ years.