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Finding Financial Freedom with The Frugal Physician - Finance, Wellness, Budget, Student Loans, Wealth, Doctor, Fitness, Money
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Ep68: Can You Truly Afford That House? 2 Ratios Every Physician Must Know
Manage episode 439654634 series 3595688
Kandungan disediakan oleh Dr. Disha Spath, MD, and FACP. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Dr. Disha Spath, MD, and FACP atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
Dr. Disha tackles a recurring question in physician finance groups: “Can I afford this house?” Using a case study of the Smith family, she walks through the key financial ratios—HR1 (housing costs) and HR2 (debt-to-income)—that determine whether a home purchase is financially sustainable. Despite a $300K annual income, the family’s student loan and car payments push their debt-to-income ratio to 42%, beyond the recommended 36%. Dr. Spath advises waiting to buy, paying off existing debts, and boosting savings before stretching for a home that could lead to financial strain.
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Please note: The content shared on the podcast is for informational purposes only and should not be considered individualized financial advice. It is essential to consult with professionals such as accountants, financial advisors, or attorneys to receive personalized guidance based on your specific needs.
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