• lightnsfw
    2·
    10 months ago

    How much did you save in that year and what are your monthly costs?

    I plugged my numbers into a mortgage calculator while back and I’d have to save like 20% of the total cost to get the monthly payments low enough. I have an okay salary and I’m still not making enough to do that in a year.

    • SaakoPaahtaa@lemmy.world
      5·
      10 months ago

      I can’t remember the exact figure, it was around 10k I had saved up, so roughly a third of what I had made that year. This was during covids lockdown phase, so I didn’t really have anything to spend my money on other than a savings account. My monthly loan payment is between 700-800€, I was smart enough to get a fixed interest rate which was ridiculous at the time but a literal moneyprinter now.

      • Taigagaai@lemmy.world
        11·
        10 months ago

        You might be interested to know that in the European country where I live this is completely impossible. No bank here will give a loan to a single person with that income and only 10k euro saved.

      • AnalogyAddict@lemmy.world
        6·
        10 months ago

        I know this may be difficult for you to understand, but a while lot of people lost their jobs during Covid, and had even less to spend. Saving isn’t an option when your entire wage is spent before you make it, just to exist.

      • kmkz_ninja@lemmy.world
        4·
        10 months ago

        So you boght during a housing crisis where people were losing their jobs and the economy was in shambles.

        The average rent in America is $1700. Congrats on finding a house where the mortgage is half of the average American’s rent.

        • SaakoPaahtaa@lemmy.world
          3·
          10 months ago

          Yes, but I missed your point unfortunately. Price of houses soared during Covid, I thought it was common knowledge. If anything I bought it at the wrong time.

      • lightnsfw
        3·
        10 months ago

        Yeah, that’s about what the figure I came up with was. Oh well I’ll keep throwing money away on rent I guess.

          • lightnsfw
            2·
            10 months ago

            Congrats on your success though. Didn’t mean to sound bitter towards you if it came off that way.

            • SaakoPaahtaa@lemmy.world
              3·
              10 months ago

              You didn’t mate, it’s all good, and I don’t consider myself successful for saving money for a year. It appears to have been on a bit of an easy-mode.

              Feel like emotions are high here, and I’ve been looking into this credit rating system during this convo and I kinda start to understand the emotions coming off.