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Ask OneFolio6 accounts
Can I afford a $48k Tesla on a 5-year loan?
Verdict
Slow down.
$890.00 a month. 3 of 6 months in the red.
A 7-year term still leaves 1 month in the red and costs $3,720.00 more in interest. A $35,000.00 vehicle keeps you above your savings target.
Can we buy a $620k home next spring?
Verdict
Not yet.
$3,940.00 a month. 2 of 6 months in the red.
20 percent down on a 30-year fixed, taxes and insurance included. Waiting until fall closes the gap.
Should I take the $142k offer across town?
Verdict
Take it.
$1,126.40 more a month. 0 of 6 months in the red.
After federal and state tax, benefits, and the longer commute.
Can I take three unpaid months off in February?
Verdict
Yes, with a buffer.
$14,250.00 from savings. 6 months of runway left after.
Spending holds at your 90-day average. Your emergency fund stays above 3 months.
Can I afford a $48k Tesla on a 5-year loan?
Illustrative example
