TwentyFrugal

You just graduated college and you're trying to decide whether to buy a house or rent an apartment... There are many different factors that go into this decision. Do you have student loans? Do you have a giant car payment or credit card debt? How long will you live in that location? The list gets overwhelming. I am going to break down several factors in the simplest way possible to show you the options using estimated numbers. Let's say you have a monthly income of $2500 and you are fresh out of college with $65,000 in student loan debt with a 7% interest rate. You are trying to decide on buying a house or renting an apartment in the new city you are living in. The house you want to buy is $150,000 and a fixed mortgage rate of 3.33% with a 15 year mortgage. The alternative is renting an apartment in town for $650/month. Here is the breakdown: Option 1: Buy the house The monthly payment on the house:  $1060  for 15 years to pay off the grand total o...

I am 23 years old with a few months left of college and years of financial advice deep. My father is a financial advisor and hammered some key financial principles into my head as I got older. I grew up in a millennial generation with a financial goal of building wealth and establishing financial independence. This blog site will exhibit everything from my key principles, to my weaknesses, to referrals to the other key financial influences on my ideals.  Here is a road map that I have set for myself after years of research. This list comes from a mix of Dave Ramsey principles, modern financial advice, a bachelor's degree in business administration, and common sense. Start tracking your spending and create a budget In order to really get an understanding of where you are at, you need to start tracking your spending. There are many different ways to do this. Apps like Mint, Clarity, banking apps, and Every Dollar will actually link to your debit card and track your spending fo...