How much should you be spending on your mortgage?
There's a gaping chasm between the proportion of income that is deemed comfortably manageable and the amount the average Australian is actually spending.
Buying a property should be a joyous experience but it can also lead to significant financial stress. (Image source: Shutterstock.com)
Summer is when there is heightened activity in the property markets and many buyers are taking their leap into property ownership.
This time of year
also brings many other expenses and Christmas spending can take a toll on the household budget.If you’re looking to buy a home this summer, you’re probably wondering how much of your take-home income should you be allocating to your mortgage.
A widely accepted benchmark for mortgage repayments is…
