Your mortgage documents should have included an amortization schedule. Amortization turns a fixed interest rate and a fixed payment into a variable amount of principle and interest payment. Your amortization schedule should spell out who much goes to each for each payment you make. From there you should be able to tell how much interest you're paying. That would be the amount the bank is making off giving you a loan for your privilege of having the money now instead of saving up for some unknown number of years to have enough to buy a place.

1. I'm using less water by removing my lawn and using drought tolerant plants. I'm collecting waste water like the cold water warm up for a shower and water from washing fruits and vegetables. I use that to water my plants.

2. I'm voting for people that are in favor of increasing the minimum wage.

3. I'm not willing to increase my earnings as that usually entails more work or responsibilities. Sure, I'll take more money for free but that's rare. Therefore, I am looking for ways to reduce my spending. This personal finance forum is an excellent start in collaborating with others to maximize our dollars. If you spend less than you earn, you'll never run out of money.

Good luck, OP

If they can. OP should look if his mortgage contact allows early repayment toward principal, and what the terms and procedures are.

1. 38 year mortgages are a thing now?

2. welcome to adulthood

Don't forget that mileage, parking, and tolls can be deducted, too - https://www.irs.gov/taxtopics/tc502

Get a job. Get a second job. Sell blood plasma. Sell anything you own of value. Borrow from friends or family. Take in a roommate. Move out before you get evicted.

IF you have a plan (not a fantasy, but an actual plan) for when and how you would be able to pay your rent, contact your landlord before you're late, explain the situation, tell him your plan, and ask him to work with you. If you take this route, make absolutely sure you stick to that plan and pay him when you said you would.

Itemize it. Make sure to include mileage!

Everything over 7.5% of AGI can be deducted on taxes. Check what it is for your state (Here in NJ, everything over 2% can be deducted)

"Obamacare" is just the nickname the Republican gave to the healthcare marketplace.

yep. it sucks but perfectly normal. i paid $80,000 for mine in 1985, 30 year mortgage. after 22 years i had paid almost $120,000 when i sold it....still owed $80.000.

on a 30 year mortgage you will pay about 3 times the price. it's why they give out 30 year mortgages. not because it makes them money....because it makes them a shit ton of money.

Yes it's normal. It is over an extremely long time period and you can reduce the amount considerably by paying early.

The solution is to get more credit and not use it. So, either a higher limit on the card you have, or an additional card. Use the additional card once in a while, like for one load of groceries a month to keep it active, and pay it off like you do. You have a good score, so it shouldn't be hard for you to get another card. You're doing everything right. This is not something to worry about.

Start packing. Your landlord will quickly catch on that you actually didn't pay rent and eviction will begin.

No, you can't appear to give someone money while not giving them money. Unless you want to intentionally write a bad check which is check fraud.

The last thing you should be is deceitful. Tell the truth and see if they're willing to work with you. No one is going to advise you do anything illegal so don't ask those questions.

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I’m not earning minimum wage, fortunately. I should probably reword my post a bit.

Minimum wage just isn't enough anymore. Hopefully you can find a job that pays higher than that, Walmart said its minimum wage is $14/hr. Lots of manual labor type jobs pay $10+/hr near me, and like warehouse jobs are good because you could get the forklift license and get paid more.

At some point it is just all about finding a job that pays more.

Yes, it’s called interest. The bank isn’t going to give you a €250k loan without making any money off it.

Your lender (the bank) should have given you an interest rate on the loan. I’m bad at math so I’m not going to try to figure it out based on the numbers you gave but it’s possible to figure it out.

Welcome to adulthood!! :)

What is the interest rate? You have not given us one of the most important pieces of information. That said, and without doing any math(like you), it actually seems good for a 38 year mortgage.

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That's because you have to pay back your loan with interest. Think about it from the perspective of the people that loaned you the money. They need to make a return on the money that you rented from them.

The longer the loan goes, the more it costs you. You can save a lot of money down the road by paying extra towards the principal when you can.

It's not a mystery where the payment is going. Look at or ask for the amortization schedule along with escrow (taxes/insurance).

yes which is why i said no penalty one is fine. and yeah its better than their apy cause their apy is pretty low compared to many other places.