Comments on: Laundry Detergent, 171.54% APR Loan, and 30 Rules of Thumb http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: SY http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140521 SY Sun, 23 Mar 2008 02:58:04 +0000 http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140521 "You should spend no more than 2-3 times your household salary on a house. [I think your mortgage should be no more than 3 times your household salary as a maximum. Any equity/down payment you have should be taken into account in this Rule of Thumb]" If we were to follow this Rule in New Zealand, I'll probably have to stay a renter for life! The current affordability rate is 80.2% of the median nett income. http://www.nzherald.co.nz/category/story.cfm?c_id=54&objectid=10499313 I'm in my mid twenties and find it frustrating that I can't get into the housing market even if it's just a modest house in a 'not-so-desirable' area a good 40-minute drive from the city. It would mean coughing up NZ$700 a week to service a mortgage for 25 years. Compare this to the NZ$145 rent I currently pay where I can walk to work in the city! The only upside is that I'm earning about 8.35% interest on my online savings account ... “You should spend no more than 2-3 times your household salary on a house. [I think your mortgage should be no more than 3 times your household salary as a maximum. Any equity/down payment you have should be taken into account in this Rule of Thumb]”

If we were to follow this Rule in New Zealand, I’ll probably have to stay a renter for life! The current affordability rate is 80.2% of the median nett income.

http://www.nzherald.co.nz/category/story.cfm?c_id=54&objectid=10499313

I’m in my mid twenties and find it frustrating that I can’t get into the housing market even if it’s just a modest house in a ‘not-so-desirable’ area a good 40-minute drive from the city. It would mean coughing up NZ$700 a week to service a mortgage for 25 years. Compare this to the NZ$145 rent I currently pay where I can walk to work in the city!

The only upside is that I’m earning about 8.35% interest on my online savings account …

]]> By: KC http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140497 KC Sat, 22 Mar 2008 15:28:40 +0000 http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140497 Thanks for the tip on the laundry detergent. I'm about 2 weeks behind on my laundry and I was getting ready to do some (or a lot!). I always use less than recommended, but now I may try even more less (even more less!?). Anyway, its not summer time and my clothes can't be that smelly and dirty. Thanks for the tip on the laundry detergent. I’m about 2 weeks behind on my laundry and I was getting ready to do some (or a lot!). I always use less than recommended, but now I may try even more less (even more less!?). Anyway, its not summer time and my clothes can’t be that smelly and dirty.

]]> By: MillionDollarJourney http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140490 MillionDollarJourney Sat, 22 Mar 2008 14:00:05 +0000 http://www.consumerismcommentary.com/2008/03/22/laundry-detergent-17154-apr-loan-and-30-rules-of-thumb/#comment-140490 Thanks for the mention Flexo! Thanks for the mention Flexo!

]]>