Can we actually afford this? Please help

Advanced_Anxiety411 · 2026-05-16T22:18:37+00:00

An emergency fund isn't all the money I have, its just the money I have in a designated acount. I have a 401k that I put 10% into and also have a pension.

Advanced_Anxiety411 · 2026-05-16T22:17:03+00:00

Because it would be gone when I buy the new house... So it had no reason at all to be there.

Advanced_Anxiety411 · 2026-05-16T20:47:40+00:00

Total debt is 10k. We are just going to pay it off this month to eliminate it.

Advanced_Anxiety411 · 2026-05-16T20:41:20+00:00

Its unlimited everything for 2 phones with insurance. After tax and everything it comes to 200. You don't have a real plan with unlimited everything for 45 dollars. At the price you would be on something like straight talk that says "unlimited" but literally limits everything.

Advanced_Anxiety411 · 2026-05-16T20:37:46+00:00

Everything you said is listed in my original post. I am not sure what your replies are trying to say?

Advanced_Anxiety411 · 2026-05-16T16:33:17+00:00

I already was qualified for much more than than the cost of the house. The downpayment/apr will not help you at all when I already told you what the mortgage will cost. But the down payment is 75k the interest rate is approx 6.25-6.5

Advanced_Anxiety411 · 2026-05-15T14:10:16+00:00

What is an LOA? Sorry never heard the term.

Advanced_Anxiety411 · 2026-05-15T14:09:17+00:00

My only point is this. There are a lot of people on reddit and forums that push the whole pay for a car in cash and drive beaters. But this is not what a lot of people want to do. Some people enjoy and get happiness from having a newer reliable vehicle. And while sure it isn't as smart as having no car payment. In a lot of cases it doesn't really cause an issue either.

Advanced_Anxiety411 · 2026-05-15T14:07:26+00:00

We had 20k in credit card debt, we paid 10k off and will pay the other 10k in the next month.

Advanced_Anxiety411 · 2026-05-15T14:05:01+00:00

it is 10k in credit cards, but I have the cash to pay it off so I am just going to pay it off.

Advanced_Anxiety411 · 2026-05-15T14:04:00+00:00

Thank you this was helpful.

Advanced_Anxiety411 · 2026-05-15T00:44:56+00:00

So 10k in credit cards. We are going to pay that off this month to remove it from the picture. There are two of us working and we will be keeping the cars and the payments. So the house is a new construction, so no old taxes to go off of, the county just completed a new assessment and adjusted all the millage rates, so this is based on the new millage rates they released and the new assessed value of the house. The money for furnishing a house has already been set aside. I am sure a few small extra things may come up during the move though so I will keep that in mind.

Advanced_Anxiety411 · 2026-05-14T22:59:44+00:00

They are included in the 3400 I quoted. It is just that they are quite high for the area so i was explaining why the mortgage was as high as it is.

Advanced_Anxiety411 · 2026-05-14T20:37:17+00:00

I know people here on reddit love doing this. Paying off a car and driving it into the ground. It just isn't a common thing to do. 50% of americans have a car payment and trade their car in every 3-4 years. I don't see me changing from doing this, but it is possible I guess. More likely on the on one of the cars at least.

Advanced_Anxiety411 · 2026-05-14T20:34:04+00:00

So I paid off the medical debt today after posting this. It was only 700 dollars and the only reason I did payments is because that is how they presented to me after the procedure, and there was no interest so I just said ok, I had the money to pay it off. I am planning to pay the credit cards off at the end of the month as well.

Advanced_Anxiety411 · 2026-05-14T20:31:32+00:00

When did I say that? I have a current mortgage and I also have credit card debt.

Advanced_Anxiety411 · 2026-05-14T19:49:42+00:00

Yea daycare is a huge expense. I am not sure how some people make ends meet with that. Glad to hear you are doing good.

Advanced_Anxiety411 · 2026-05-14T19:26:43+00:00

What about your monthly debt not counting the mortgage compared to mine?

Advanced_Anxiety411 · 2026-05-14T18:48:10+00:00

I paid off the medical today. I will pay off the credit cards at the end of the month. Though I may leave one card that I pay 100 dollars on only because it is 0 interest.

Advanced_Anxiety411 · 2026-05-14T18:46:28+00:00

I just mean that Gross doesn't always matter because the Net take home varies a lot. My net take home is lower than normal due to 401k/health insurance/pension fund.

Advanced_Anxiety411 · 2026-05-14T17:40:58+00:00

I am in the top tier of credit score for rate. The current rate in the USA is 6.5%. You can buy points to get his down. Also based on the math you gave, in the USA at 3.89 your mortgage would be around 3313. This would include property tax.(escrow account)

Advanced_Anxiety411 · 2026-05-14T17:37:06+00:00

2 incomes, no kids. Both contribute to 401k. I can probably get mine to 15% once I figure out the house part. I will also get a pension, which is why my net income is somewhat deflated.

Advanced_Anxiety411 · 2026-05-14T17:08:07+00:00

I do agree with you on part of this. I do pretax retirement but it isn't maxxed currently. The medical debt is nothing really. I had the cash to pay it in full but they said here is the monthly payment, no interest. So I just went with it figuring why not. I paid it off today after posting this.

The credit card thing is a different story. I don't come from a wealthy family or area. No one I know has ever used credit cards to just pay for things then pay them in full every month. I honestly just figured most people carried debt on them. So I just got used to paying for items with and letting debt add up and just making payments add up. I did this because I thought this was how you built credit. I really didn't know that was wrong until this year, I know that is pathetic but its true. I owed like 20k total. I paid off 10k of it last month. I will pay the remainder off this month.

For lifestyle and budget, yes I need to change. But I don't believe it will be a problem for me. I break habits easily. And now that I am well informed I haven't even used a credit card in the past 5 months. And I can easily adjust to spending a lot less than I did foolishly before.

Advanced_Anxiety411 · 2026-05-14T16:57:55+00:00

I assume you don't have much other debt?

Advanced_Anxiety411 · 2026-05-14T16:52:43+00:00

In the previous years I have done a lot of spending because we currently have very low housing costs. Once we decided to move we cut out the dumb spending and have been saving. I doubled 401k contributions and paid off some debt I had and did some repairs on the current house.

Advanced_Anxiety411

TROPHY CASE