Personal finance, explained with real numbers.
Private mortgage insurance is usually quoted as an annual percentage of a conventional mortgage balance and collected monthly. On a $360,000 loan, a hypothetical 0.70% annual PMI quote is $2,520 a …
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Debt-to-income ratio, or DTI, is required monthly debt divided by gross monthly income. Multiply the result by 100 to express it as a percentage. DTI = monthly debt payments ÷ gross monthly income × …
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GAP is useful only while two numbers are in the wrong order: the auto-loan payoff is higher than the vehicle's insured value. If the car is stolen or declared a total loss during that window, …
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Your bonus letter said $5,000. The check that landed said $3,392.50. Somewhere between those two numbers, most people decide the government "taxes bonuses extra" — and once that idea takes …
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A lease payment and a loan payment do not buy the same thing. The lease pays for a defined period of use and normally ends with the car going back. The loan pays interest and principal and leaves the …
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Gross pay is what you earned before payroll takes anything out. Net pay is what reaches your bank account after taxes, benefits, retirement contributions, and other deductions. The gap is not one tax. …
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