Seventy-seven percent of Americans with mortgage payments say theyāre having trouble putting money away. That number from a new survey by Bankrate.com. The websiteās Chief Financial Analyst, Greg McBride, warns not to buy more house than you can afford.
āYou need to consider all of your expenses,ā McBride told KTRH. āYour other financial goals. Whether itās saving for retirement, maybe saving for a kidās future education. You need to factor all that into the picture.ā
McBride offers one way to make the situation more manageable for current mortgage holders. āMaybe look at refinancing that mortgage. Especially now with mortgage rates lower. You could trim those monthly payments.ā
For more information on the survey, CLICK HERE.