On My Home Planet

I have an opinion about everything, and here it is for the world to see.

Hating on: morons, self-righteous political extremists, the man-and-baby-hating strain of feminism, CraigsList, yuppies, careerists, white liberal guilt, people devoid of any sense of morals or personal responsbility, and other generally clueless and misguided types who continually piss me off.

Saturday, October 06, 2007

Personal Finance PSA

I was bitching to a friend today about how much harder it is to save money now that my mortgage payment is significantly higher than my rent.

"But you own... a house is like a bank account."

Um. Dude. No. A house is a place you live in (and usually own). I cannot walk up to the water heater, burn a candle for the Wells Fargo Gods, and say, "Hey, can you spot me $100? There is this really cute pair of wedge heels at Nordstrom's..."

It doesn't work that way. Unless it is 2005, or unless your or an immediate family member needs an expensive and lifesaving surgery, or unless you are using that money to make major repairs/upgrades to said home, the equity you have in your home is not play money. So if you are buying new furniture, designer pocketbooks, Carribbean vacations with it, you're a moron.

Furthermore, unless you own your house - you you you, as in you have paid off the mortgage and own the place outright - that equity's not really even yours yet.

Which means: When my rent was $X and my mortgage is $X + $600... that means I have $600 less a month to save/use as play money. Which is like taking a 9K paycut (on top of which Uncle Sam has been anally raping us both on taxes since we tied the knot), and on top of that, I'm paying 1/2 the money if the toilet breaks/carpet needs replaced. So deal with it if I bitch about finances every now and then. First time homeowners in their 20s often have a less than financially comfortable first couple months.

1 Comments:

At 9:24 AM, Blogger Minnie thinks I'm the coolest...

You are 100% right! Too bad so few people think this way. Perhaps that's why the 20-somethings are all in debt up to their eyeballs.

 

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