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A1. Rent if you need flexibility or arent ready for home maintenance costs. Buy when you have stability and can afford 20% down, and have steady income. You should also weigh job security, and if you plan to move soon. Rent if moving soon, buy if staying for 7+ years. #CreditChat

A2: Use 28/36 rule: housing expense should be less than 28% of gross income, and all of your debt should be less than 36%. On $5K/m income, cap rent/mortgage at $1,400. You want to think about how much you can realistically afford so you still get to enJOY life. #CreditChat

A3: Credit scores are a major factor. Credit (670+) gets lower mortgage rates, and easier rentals. Poor credit means denials, high deposits. To prepare you should check your scores at Experian, pay bills on time, and keep card balances under 30%. #CreditChat

A4: There are things we dont think about. When renting expect to pay 1-2 months deposit, and $200-500 app fees. When buying 3-20% down ($6K-$40K on $200K home), 2-5% closing ($4K-$10K). Save 6 months worth of expenses first. Then budget for moving and furniture. #CreditChat

A5: Create a game plan and take the guesswork out of saving. Look to autotransfer a % of pay to high-yield savings. Cut back on subscriptions and things that don't bring you Joy. Then remain consistent. It can feel overwhelming, but take it one bite at a time #CreditChat

A6: Budgeting helps you see what you can afford and how much you can save. You can budget with 50%/30%/20%: needs, wants, savings. This shows where your money is going and what you can cut. You can also adjust for the added cost of your new place and see how it fits #creditchat

A7: Hidden costs like utilities, taxes, PMI can strain budgets. It's important to consider them when evaluating a new place. If not you can find yourself paying hundreds per month more than you expected. Which can add to stress and being negative in your bank account #CreditChat

A8: Check for safety, schools, and transportation nearby. If not checked it can be costly, like private schooling and commute cost. Some areas have high HOA fees and taxes that add costs. As well as fines for not following rules. Talk to locals. Good areas boost value #CreditChat

A9: To protect yourself, make sure to check your credit, save 6 months expenses, and make sure you have budgeted for the extra cost. Have a lawyer review leases/mortgages. Build an emergency fund and make sure you can still enJOY life. #CreditChat

A10: Watch out for vague lease terms (Noise, Guest), any prepayment penalties, higher than normal closing fees. You should avoid adjustable rate mortgages because rates can jump. Make sure you read the fine print, ask for fixed-rate options, and clarify terms. #CreditChat

A1. Bills drain cash on a tight budget. The hardest challenge you will face is changing your mindset and habits. You have to look to pay yourself first, even if its $10/week. Believe that what you put away today will benefit you in the future. #CreditChat

A2 You want to target 3 to 6 months worth of expenses (Food, Rent, bills). If your bills are $1k a month, you want to have $3k to $6k in your emergency fund. You want to look and see how much income comes in every month and what goes out, then commit to save a portion #CreditChat

A3 Make sure that you have overdraft protection. Saving $35 per charge by having a savings account linked to your checking can end up being big savings over time. Also, you want to watch out for maintenance fees on accounts. Make sure to cancel free trials right away #CreditChat

A4 Side Gigs grow emergency funds! Every little bit extra helps. if you have skills that people need you can look on Upwork for contract jobs. You can even work shifts at a restaurant. Just remember that you will be trading your time for the extra income #CreditChat

A5 Focus on running your own race! Set a goal and then have checkpoints along the way. Do something for yourself to reward your discipline every time you hit a goal. Keep focused because the best way to eat an elephant, is one bite at a time! #CreditChat

A6 A great place to keep an emergency fund is in a High-yield savings account such as Ally or Marcus. They offer 3% - 4% interest and are secure because they are FDIC-insured. They are accessible, have no fees, and have instant or next day transfers. #CreditChat

A7 Yes, I tapped into mine yesterday. I had my car engine blow and had to pay for the repair out of pocket! The fact that I had the cash on the sideline to pay for it, gave me peace of mind. Did it hurt? Yes, but I didnt have to depend on credit and high interest. #CreditChat

A8 Habits that can help you save is automating it. It takes the guesswork out of it. Set it up with your bank to move money to savings when you get paid. Another thing is doing monthly financial check ups to make sure you know where your money is going. #CreditChat

A9 View savings as a non-negotiable. No matter what pay yourself first. Don't worry about what you see on instagram, just focus on the things you can control. Remember trouble doesnt last always, be grateful for what you do have and enJOY your Money Journey. #CreditChat

A10 When things are tight it can feel like the world is against you. it can drain you mentally, physically, and emotionally. This is when the emergency fund is most important. it allows you to be clear headed and avoid making mistakes because you feel you have to. #CreditChat