Financial Margin

Financial Margin

By Jared HumphriesBusinessEducationInvestingCourses
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Financial Margin episodes

  • How much should I spend on housing making $60k
    Looking at a newlyweds scenario based on household income and what they can afford to spend on housing will provide additional clarity on how much to spend on a mortgage. Looking at a specific scenario of gross income equaling $60k and then showing what typically will reduce that income providing you with your actual take-home pay, will help you determine what you can spend. Looking at typical percentages of mortgage debt, it may be best to consider buying a home with an ADU, guest house, casita or FROG and then renting it as a vacation rental in order to prevent having too high of a mortgage in relation to your income.
    7 min
  • How much should I spend on housing making $48k
    Looking at the average beginning salary for a college graduate and how that relates to what you can afford is an important step in life. Looking at a specific scenario of gross income equaling $48k and then showing what typically will reduce that income providing you with your actual take-home pay, will help you determine what you can spend. Looking at typical percentages of mortgage debt, it may be best to house hack or work to increase your income in order to hit the right percentage without having too high of a percentage going to housing.
    9 min
  • Why you would pay cash for real-estate!?
    The thought of paying cash for real-estate may seem untenable, so most proceed with getting a mortgage without actually looking at what it would take to pay in full. Covering three benefits to a mortgage and three for paying cash will help you determine whether the delay for instant gratification is the right move for you.
    11 min
  • Ask yourself these questions before beginning your home search!
    It’s important to sit down and ask yourself some key questions before stepping into making the largest purchase most people make; a home! Looking at five areas recommended to think through, will be a great start to ensure that you are actively thinking through what it is you want out of life and then how your home can support or facilitate that.
    9 min
  • How much down payment is really necessary??
    How much of a down payment is really necessary?? Whether it’s the monthly payment, mortgage insurance, down payment, or interest rate, there are so many questions that come up in the home buying process. Being prepared to know what you are realistically looking for will ensure that you don’t put too much or too little down based on your situation.
    8 min
  • How to negotiate a home purchase!
    Arguably the most important aspect of purchasing a home once you narrow down the location, size, and must-haves, is negotiating! Not only knowing the area, comparable sales and repairs needed, but also getting creative may help you land that deal. The closing process can feel like a long one, but is much easier without having the what-ifs around the purchase price and negotiation.
    8 min
  • What are the different type of mortgages?
    It can be difficult to know what kind of mortgages are out there that you can take advantage of based on the season of life that you’re in. There’s two categories of loans outside of creative products that are out there including conforming and nonconforming loans. Looking at fixed rate or variable or term duration, there is a lot to consider.
    11 min
  • If you're going to buy, here's what you need!
    Buying a home is one of the largest financial decisions most people make! Looking at not only what gives you peace of mind in your purchase but also the steps of making sure the lender has what is needed to underwrite the loan will expedite the process.
    7 min
  • What's the difference: HELOC or Home Equity Loan?
    You have probably heard of the term HELOC or home equity loan. These are loans against the appraised value to the balance you owe, or otherwise known as the equity in your home. When looking at the equity that you have available to you, you may be tempted to not have it sit there when it could be used for other purposes. Home equity is something that you should be careful not to tap into unless it is to increase in value or especially the value of your home. If you have determined the use of the home equity product, the options we are covering are quite simple.
    11 min
  • Don’t buy just because of interest rates!
    We can all be tempted by the low interest rate environment that we’ve become accustomed to. The interest rates now sitting lower than they were during the Great Recession. Looking at the difference between the average interest rate over the last 10-years and what it is today, we can see that the difference is relatively nominal to a houseful for budget. We will be looking at why it’s not smart to rush buying a home based on the interest rate!
    9 min

About Financial Margin

From the publisher's feed

Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!