40 and 50 year mortgages have been a thing in the States for a while.

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Exactly. Usually “friends” bring up the idea “venting” hoping that you would offer to help. How they respond to you backing out will tell you everything. I’d have a good story that they can’t argue with that’s short like “we were going over the finances and things are a lot tighter than we thought. I thought we could stretch to help you but we cannot. I’m sorry”. If they in any way try to convince you otherwise that’s a huge red flag to me.

45 minutes isn't so bad imho. It depends on the person though. I like to have that time to think and adjust my mental state into or out of work mode.

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Look up amortization tables or calculators. It's depressing and why shorter term mortgages and paying extra on principal is important. I've always made extra principal payments every month to drive that interest number down. Keep in mind that your currency devalues constantly as well. With the dollar it's typically been that it's value is cut in half about every 15 years or so, but your payment never changes so that works in your favor.

Thanks. I think we may not do it. As someone else aluded to I’m not a bank. And if someone can’t afford something should that be my responsibility? It would be one thing if friends were asking for help with rent or necessities or something but if you can’t afford to buy a business without asking friends for money then maybe you shouldn’t buy a business

You may find these links helpful:

• 401(k) Fund Selection Guide
• 401(k) FAQs
• "How to handle $"

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Yes they’re taking an existing business over due to the owner retiring and looking to sell rather than starting from scratch.

You mentioned you're in Canada, so you can use this calculator to estimate your tax due, which might help you figure out where the discrepancy is. I don't know how Canadian taxes work, so I'm not sure if that sum includes provincial tax or not.

You may have better luck on /r/PersonalFinanceCanada/ since this is a very Canada-specific question.

My husband and I combined bring in $120K per year. We have a modest home and mortgage payment ($1500 per month), no kids, no credit card debt, no car loans... nothing. We don't live extravagantly. When we sit down to budget it still boggles my mind how anyone who DOES have those things can survive out there. Salary increases just aren't matching the rate in which we're seeing prices increase.

You are most welcome! Your debt isn’t really that bad! It’s totally doable! Focus on the debt, establish a healthy financial relationship with credit, and don’t forget to invest in your future self! Good luck!

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W4 is a US thing that tells the employer how much to deduct from your taxes. Essentially, it tells the employer about other income or deductions they don't know about.

It looks like the Canadian equivalent is a T4.

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You don't have to do anything with it, if it is in a good place in good funds, you can let it ride. If you get a new 401k with the next job, you can roll it into that new one. Main reason to transfer it is to make it easier for you to keep track of, or if you have some preference for a particular brokerage house.

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If you want these utilization dings to go away, you’ve got to get more credit and not use it. A utilization of 50-90% is very high so it will be seen as risky. Ideally you want to stay under 10%. So you achieve this by getting your credit limit raised or opening more credit lines.

I usually put $1-2k on my main credit card per month, and my credit usage is below 5% because I have many cards, most with a zero balance.

I can chime in and say it's definitely not normal in the UK for one.

Based on the comments I have decided to flip both middle fingers to this bank and look elsewhere. Thank you all for your help!

Time to climb the corporate ladder with letters to the CEO? Or possibly get your Represetive's office to help??