$4,330 Gross Income$3,887 take home income (after withholdings)$1,212.42 housing (including 1.25% prop taxes & 0.3% hazard insurance)$433 consumer payments ($28,800 credit card balances @ 18%)That's a loan at 28/35 DTI ratios.$10,000 reserves (x6 months of total lifestyle expenses,)$2,251 monthly discretionary incomeSo, the expenses you provided.....$1212 (housing)$ 433 (consumer debt)adds up to $1645 in debt payments. Take that from $3887, and you get $2242 in what you are calling 'discretionary' income. While you accounted for homeowner's insurance and property taxes, you didn't account for all those other expenses, like:foodelectricity/natural gaswater/sewertrashphonemedical co-pays/deductiblesmuch of which is not really 'discretionary'.And the 'x6 reserves' that you are showing only cover the debt payments, not the 'lifestyle expenses'.So, how much of the $2242 'discretionary' income are you assuming is put into savings?AJ
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