Reply to What are your cutbacks for the best way to save money monthly?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Having a low mortgage and no car payments (paid cash), combined with automatically deducted retirement and savings amounts meant that we did not have to cut back in other ways. We still eat out, have cable, netflix, buy new clothes, etc. Having a low mortgage is much easier than doing without all that fun stuff![/quote]
THIS! The smartest things we have done that have made the biggest impact on our financial situation were to limit ourselves on what we spent on our home and to buy cars in cash and drive them for around 15 years before swapping them.  The little stuff adds up too, but controlling your fixed monthly costs is easy to do and has long lasting financial benefit.[/quote]

what do you define as a "low mortgage" in terms of percentage of take home?[/quote]
That's my post.  What we did was buy a house that was about 2x our annual income with a minimum monthly mortgage payment that is about 23% of take home pay.  We pay 1k extra per month which is effectively converting our 20 year mortgage into an 11 year mortgage.[/quote]

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