I received this question via email, regarding the “30% rule” when making your mortgage or rent payment:
I know that you’re supposed to stay around 30% of your income for housing costs per month. Is that 30% of net or gross, and is that only for the housing, or do they recommend staying under 30% for housing and all utilities?
This is an interesting question without a straightforward answer. “They” say many things, but from what I can tell from talking with some other financial types and consulting my common sense, the basic rule is 30% of your pre-tax (or gross) earnings, …read more

One of the growing trends in personal finances right now is making your credit card payments before making your mortgage payment. This is a worrying trend, since it is important to make sure that your mortgage is paid. And, while credit card companies often loudly demand payment, the bottom line is that there are protections that you have against them, under the Fair Debt Collection Practices Act (FDCPA), and you should really focus on keeping your home.
But maybe, just maybe the reason that folks are paying of their credit cards first is so that they can put their mortgage payments …read more