This is difficult to explain. I can’t figure out a rule of thumb for spending, the prices of things fluctuate so quickly it’s confusing. Here are some examples

  1. A house, prices are out of control, inventory is low, sellers are greedy. I’m feeling not only unable to afford it but finding lack of value in inflated prices

  2. Computer parts. Relatively cheap compared to pandemic but more expensive than before but also much cheaper than 90s/00s, but still could be cheaper

  3. TWS earbuds, completely different ball game from regular earbuds, disposable electronics.

  4. Food. Nights out with drinks now sometimes cost me more than 2 & 3, but seem like just keeping up with inflation

The prices range from 100,000s to 100s, but some are fleeting, some semi permanent, some last a long time. I also spend hours researching prices of parts and waiting for sales, but spending the same amount on social events in an instant

  • Unaware7013@kbin.social
    13·
    1 year ago

    If you’re looking at 300k @ 8%, youre not going to be paying anything similar to your current rent. I got a place for 190k @ 6%, and I’m paying about 200/mo less for my mortgage than you do for rent. At that rate, I’d be surprised if you got out under 2500/mo.

    • HubertManne@kbin.social
      1·
      1 year ago

      did that include taxes being paid from escrow? He might be doing a simplified thing and did not include taxes and such. Something I think to that people don’t realize with mortgages is the excrow part can go up so the monthly is not completely locked in.

      • Unaware7013@kbin.social
        1·
        1 year ago

        Yes, as stated below that includes property taxes and insurance, things that this person likely isn’t thinking about and isn’t figuring into their monthly payment. I hope I’m wrong, but I’ve watched friends crash and burn doing something similar.

      • Unaware7013@kbin.social
        21·
        1 year ago

        Sure, if you ignore all kinds of other factors like additional closing costs added to your mortgage, as well as stuff like insurance and property taxes and the interest on the loan itself. But yeah, simple arithmetic…

        I wish it was as easy as just a percentage of the mortgage every month

        • foggy@lemmy.world
          1·
          1 year ago

          The offset to the basic arithmetic is negligible.

          In my case, a $300k home would yield a $2k/mo mortgage

          Source: I’m fucking buying a house.

          Jfc y’all

          It is basic arithmetic.

          • Muddybulldog@lemmy.worldEnglish
            11·
            1 year ago

            No, it’s not.

            You’re rationale that 8% of 300,000 = 24,000 therefore $2,000/mo., by dumb luck, comes close at 8%.

            • 12% of 300,00 = 36,000/12 = 3,000; actual is $3085/mo
            • 8% of 300,000 = 24,000/12 = 2,000; actual is $2200/mo (not $2025)
            • 4% of 300,000 = 12,000/12= 1,000; actual is $1432/mo
            • 2% of 300,000 = 6,000/12 = 500; actual is $1108/mo
            • 0% of 300,000 = 0/12 = 0; actual is $833/mo

            It’s algebra, not arithmetic.

            P = (r * A) / (1 - (1 + r)^(-n))

            where:

            • P is the monthly payment
            • A is the loan amount
            • r is the monthly interest rate (APR/12)
            • n is the total number of payments
            • foggy@lemmy.world
              1·
              1 year ago

              Do you live in some world where PEMDAS/order of operations isn’t basic arithmetic?!

              Jfc…

              Even we Americans are taught this shit by age 12.

              Seriously.

              PS., it is $2025. Source: qualified. Decided to wait until $2025/Mo gets me something worthwhile. Your basic arithmetic failed to include the handful of factors that mitigate these numbers slightly zip code/taxes, hoa fees, etc. still, basic fucking arithmetic.

              Stay in school.