Is the 30 percent rule for housing still realistic? In this live episode of the Ask Ralph Show, Ralph teams up with Craig Van Slyke to tackle this pressing question, exploring how rising costs and personal circumstances can affect this guideline. They also discuss taxes on inherited savings bonds, offering simple tips for managing these financial gifts wisely. Finally, Ralph and Craig share advice on choosing the best high-yield savings accounts, highlighting key features to watch for and fees to avoid. With faith-filled wisdom and a dash of humor, this episode encourages listeners to make smart, informed decisions for their financial future while rethinking the traditional rule for housing costs.
Read today’s blog article: https://www.askralphpodcast.com/blog/is-the-30-housing-rule-obsolete/
https://www.askralphpodcast.com/rule-for-housing-costs/
Podcast Timestamps:
00:00 Episode Overview
00:47 Welcoming Craig Van Slyke
01:14 Bible Verse: Luke 16:10-11
02:43 Listener’s Question #1: The 30 Percent Rule for Housing Costs
03:43 Real-Life Examples and Flexible Approaches
04:24 The Impact of Geographic Variability
04:52 Income Stability and Financial Planning
06:45 Changing Economic Conditions
10:18 Psychological and Emotional Aspects of Home Buying
14:11 Listener’s Question #2: Taxation on Found Savings Bonds
15:31 Taxation on Interest from EE Bonds
24:53 Viewer Question: What to Do When Close to Paying Off Your Home
26:25 Evaluating Your Debts and Home Investments
27:24 Enjoying Your Money Responsibly
30:25 The Cat and the Sledgehammer Story
31:30 Listener’s Question #3: High Yield Savings Accounts-Tips and Recommendations
32:31 A Funny Casino Story
34:57 Maximizing Savings and Avoiding Fees
46:11 Visit https://www.askralphpodcast.com/blog/ for Free Financial Resources
46:35 You Can Support the Show by Visiting https://askralphpodcast.com/support
47:23 Exploring AI with Craig Van Slyke at https://aigoestocollege.com/
48:34 Closing
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