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June 2021

This Week's Leaders in What's Cooking?

Money Matters

Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

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28/36 rule

cbee817 · 2014-05-13 20:53:55

I went a financial seminar at work today and the speaker mentioned a 28/36 rule that I never heard of. He said that theoretically, 28% of monthly income should go to your house/rent and 36% should cover all monthly debt payments (student loan, credit cards, cars, etc). I checked my numbers from 2008 through current- 2013…

Re: 28/36 rule

Wulfgar member

May 2014

That is one of the reasons that I am very careful about the financial advice that "experts" give out. MW had one group that was trying to sell us additional life insurance before we had our son to basically allow the other to retire if one of us dies. I wanted to know their investing philosophy but couldn't get them to listen. Then again, I took a personal finance course in college and used some of my past mistakes in finances to have some disagreements with the professor who also works in personal investments.

I also tried to talk a previous supervisor out of buying a stretch house where he needed roommates to make the payments more reasonable. Too bad too many people don't want to listen to advice that may save them struggles in the future.

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