Gross Salary to Housing: What Percentage?

For many individuals, determining a sustainable housing budget requires careful consideration of income and expenses, with the U.S. Department of Housing and Urban Development providing guidelines on affordable housing costs. Specifically, the 30% rule suggests that housing costs, including rent or mortgage payments, should ideally not exceed 30% of a consumer's gross monthly income, but this threshold varies significantly based on location and individual financial situations. The Consumer Financial Protection Bureau offers resources that can help individuals assess their financial health and make informed decisions about housing affordability. Therefore, understanding what percentage of your gross salary does the consumer allocate to housing is a crucial aspect of financial planning, and tools like mortgage calculators can help estimate these expenses.

Unveiling the Complexities of Housing Costs

Housing costs represent a cornerstone of personal finance, often consuming the largest portion of an individual's or family's budget. Understanding these costs, therefore, is not merely prudent but essential for financial stability and long-term well-being. This section serves as an introduction to the intricate landscape of housing affordability, highlighting its pervasive influence and setting the stage for a more in-depth exploration.

The Pervasive Impact on Personal and Family Budgets

Housing is more than just shelter; it's a fundamental human need and a significant financial undertaking. For many, the monthly rent or mortgage payment represents the single largest expense, often dwarfing other categories like transportation, food, or entertainment.

This financial burden can significantly constrain disposable income, limiting the ability to save for retirement, invest in education, or pursue other financial goals. Effectively managing housing costs is therefore critical for achieving broader financial objectives.

The Multifaceted Nature of Housing Affordability

Housing affordability is not a simple calculation. It is a complex interplay of financial principles, prevailing economic conditions, and unique personal circumstances.

• Financial Literacy: A strong grasp of budgeting, debt management, and financial planning is crucial for navigating the housing market.

• Economic Landscape: Factors like interest rates, inflation, and local job market conditions exert considerable influence on housing costs.

• Personal Factors: Income, credit score, family size, and lifestyle preferences all play a role in determining what constitutes affordable housing.

Therefore, a comprehensive understanding requires a holistic approach that considers both individual financial preparedness and the broader economic context.

Empowering Informed Housing Decisions

The ultimate goal is to empower readers with the knowledge and tools necessary to make informed housing decisions.

By demystifying the complexities of housing costs, this guide aims to provide a clear framework for assessing affordability, understanding the factors at play, and ultimately making choices that align with individual financial goals and priorities.

Equipped with this understanding, individuals can navigate the housing market with greater confidence and make sound financial decisions that contribute to long-term financial security.

Financial Foundations: Building Blocks of Affordability

Before delving into the complexities of housing costs, it's imperative to establish a firm grasp of the foundational financial concepts that underpin affordability. These concepts act as the bedrock upon which sound housing decisions are built, empowering individuals to navigate the market with clarity and confidence. Understanding these core principles is paramount whether you are renting or considering homeownership.

Understanding Gross Income

Gross income represents your total earnings before any deductions, including taxes, insurance, or retirement contributions. This figure serves as the initial benchmark for assessing your overall financial capacity.

It's crucial to understand how to calculate and track your gross income, as it directly influences your eligibility for loans and other financial products. Lenders often use gross income to determine your debt-to-income ratio (DTI), a key metric for assessing creditworthiness.

Deciphering Net Income

While gross income provides a broad overview, net income paints a more accurate picture of your disposable income—the amount you actually have available to spend after taxes and other mandatory deductions.

Net income is arguably the more relevant figure when budgeting for housing, as it reflects the real amount you can allocate to rent, mortgage payments, and associated expenses. Accurately calculating your net income provides a realistic understanding of your financial limitations.

The Power of Budgeting

Budgeting is the cornerstone of effective financial management. It involves creating a detailed plan that outlines your income and expenses, allowing you to track your spending habits and identify areas where you can save money.

A well-structured budget is essential for managing housing costs, as it enables you to allocate a specific portion of your income to rent or mortgage payments, utilities, and other related expenses. The process also helps you prioritize needs versus wants.

Effectively, you will know if that new television is truly worth delaying your savings goals for a down payment. Budgeting also provides a basis for creating a savings plan.

Personal Finance: Housing as a Core Component

Housing decisions are intrinsically linked to broader personal finance goals. A well-managed personal finance strategy recognizes housing as a significant expenditure that requires careful consideration.

This holistic approach involves balancing housing costs with other financial priorities, such as debt repayment, retirement savings, and emergency funds. Housing is a central component of a larger, more sustainable financial picture.

Integrating Housing into Financial Planning

Financial planning takes a long-term perspective, incorporating housing decisions into your overall life goals. It involves assessing your current financial situation, identifying your future aspirations, and developing a roadmap to achieve them.

When it comes to housing, financial planning helps you determine the type of housing that aligns with your long-term financial objectives. This allows you to adjust your strategy over time. It also considers factors such as location, size, and affordability.

The Significance of the Down Payment

For prospective homebuyers, the down payment represents a substantial upfront investment. The size of your down payment directly impacts the amount you need to borrow, influencing your monthly mortgage payments and overall affordability.

A larger down payment not only reduces your loan amount but also potentially unlocks more favorable interest rates. Saving for a down payment is a critical step in the home buying process.

Deconstructing Housing Costs: Breaking Down the Expenses

Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive budget accounts for both core costs and often-overlooked additional expenses. Understanding these nuances is key to sound financial planning.

Core Housing Costs: The Foundation of Your Housing Budget

These are the expenses that form the bedrock of your monthly housing outlay. Ignoring these is a recipe for financial stress.

Rent: Securing Shelter Under a Lease

Rent is the periodic (typically monthly) payment made by a tenant to a landlord in exchange for the right to occupy a residential property. The amount of rent is determined by factors such as location, size, amenities, and market conditions. Rent is usually fixed for the duration of the lease term.

Mortgage Payment (Principal & Interest): Paying Down Your Home Loan

A mortgage payment comprises two main elements: principal and interest. The principal is the original amount borrowed to purchase the home, while the interest is the lender's charge for providing the loan.

Early in the mortgage term, a larger portion of the payment goes toward interest, but this gradually shifts as the loan is paid down. Understanding the amortization schedule is crucial for long-term financial planning.

Property Taxes: Funding Local Communities

Property taxes are levied by local governments (cities, counties, school districts) on real estate. These taxes are used to fund public services such as schools, roads, and emergency services.

Property tax rates vary significantly depending on location and are usually calculated as a percentage of the assessed value of the property. It's crucial to understand the property tax implications before buying a home in a particular area.

Homeowners Insurance: Protecting Your Investment

Homeowners insurance is a policy that protects the homeowner financially in the event of damage or loss to the property due to covered perils such as fire, wind, theft, or vandalism. It also provides liability coverage if someone is injured on the property.

Lenders typically require homeowners insurance as a condition of the mortgage. The cost of homeowners insurance depends on factors such as the location, age, and construction of the home.

Additional Housing Expenses: Beyond the Basics

While rent, mortgage, taxes, and insurance constitute the primary costs, several other expenses contribute to the overall financial burden of housing.

Homeowners Association (HOA) Fees: Shared Costs for Community Amenities

Homeowners Association (HOA) fees are charges levied by a homeowners association to cover the costs of maintaining common areas and amenities in a planned community or condominium complex. These fees may cover services such as landscaping, snow removal, pool maintenance, and security.

HOA fees can vary widely depending on the community and the services provided. Potential homeowners should carefully review the HOA's rules and regulations before purchasing a property.

Maintenance & Repairs: Preserving Your Property Value

Unlike renters, homeowners are responsible for all maintenance and repairs to their property. This can include everything from fixing a leaky faucet to replacing a roof. Setting aside a budget for maintenance and repairs is crucial for preserving the value of the home and avoiding costly surprises.

A general rule of thumb is to budget 1% of the home's value annually for maintenance and repairs. Older homes may require even more. Neglecting maintenance can lead to more significant problems down the road.

Key Financial Metrics: Gauging Your Affordability

Deconstructing Housing Costs: Breaking Down the Expenses Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive budget accounts for both core costs and often-overlooked additional expenses.

Moving beyond the simple summation of housing-related expenses, it becomes crucial to understand the key financial metrics that lenders, and indeed individuals, use to gauge housing affordability. These metrics offer a standardized way to assess financial preparedness and risk. Ignoring them can lead to overextending oneself, resulting in financial strain or even foreclosure.

Understanding Debt-to-Income Ratio (DTI)

The Debt-to-Income ratio (DTI) is a critical metric that lenders use to assess a borrower's ability to manage monthly debt payments. It is calculated by dividing total monthly debt payments by gross monthly income, expressed as a percentage.

A lower DTI generally indicates a healthier financial situation. Lenders typically prefer a DTI of 43% or less, meaning that no more than 43% of a borrower's gross monthly income goes towards debt payments, including the proposed housing payment.

However, acceptable DTI ratios can vary depending on the lender, loan type, and other factors. A higher DTI suggests a greater risk that the borrower might struggle to meet their financial obligations.

How Lenders Use DTI

Lenders use DTI as a primary tool for evaluating creditworthiness. It provides a snapshot of a borrower's existing debt burden relative to their income. This helps lenders determine the likelihood of timely mortgage payments and assess the overall risk of lending.

A borrower with a low DTI is generally considered a safer bet, as they have more disposable income available to cover unexpected expenses or financial setbacks. Conversely, a high DTI signals a higher risk of default.

It is important to proactively calculate your DTI before applying for a mortgage. This empowers you to address any potential red flags and improve your financial standing.

The Impact of Interest Rates

Interest rates play a pivotal role in determining the affordability of homeownership. Even small fluctuations in interest rates can have a significant impact on monthly mortgage payments and the total cost of a home over the life of the loan.

A higher interest rate translates to a larger monthly payment and a greater total amount paid over time. This can significantly reduce the amount of house a buyer can afford.

Conversely, a lower interest rate makes homeownership more accessible and reduces the overall financial burden. Therefore, it's vital to shop around for the best possible interest rate when securing a mortgage.

Factors influencing interest rates include:

• The Federal Reserve's monetary policy: The Federal Reserve influences interest rates through its control over the federal funds rate.
• Economic conditions: Strong economic growth can lead to higher interest rates, while economic downturns may prompt the Federal Reserve to lower rates.
• Inflation: Higher inflation typically leads to higher interest rates as lenders demand a greater return to compensate for the erosion of purchasing power.
• Credit score: Borrowers with higher credit scores generally qualify for lower interest rates.

Strategies for Securing a Lower Interest Rate

Several strategies can help you secure a lower interest rate:

• Improve your credit score: Pay bills on time, reduce debt, and avoid opening too many new accounts.
• Increase your down payment: A larger down payment reduces the lender's risk and may qualify you for a lower rate.
• Shop around for the best rates: Compare offers from multiple lenders to find the most favorable terms.
• Consider a shorter loan term: Shorter-term mortgages typically have lower interest rates but higher monthly payments.

Leveraging Affordability Calculators

Affordability calculators are valuable tools that provide estimates of how much home a buyer can realistically afford. These calculators consider factors such as income, debt, down payment, and interest rates.

While affordability calculators provide helpful estimates, they are not a substitute for professional financial advice. It is crucial to consult with a financial advisor to develop a personalized budget and assess your long-term financial goals.

Examples of Online Affordability Calculators

Numerous online affordability calculators are available, each with its own features and assumptions. Some popular options include:

• Bankrate's Affordability Calculator: This calculator considers various factors, including property taxes, homeowners insurance, and HOA fees.
• NerdWallet's "How Much House Can I Afford?" Calculator: This calculator provides a detailed breakdown of estimated monthly costs.
• Zillow's Affordability Calculator: This calculator offers a user-friendly interface and allows users to input different scenarios.

Maximizing the Usefulness of Affordability Calculators

To get the most accurate results from affordability calculators, be sure to:

• Provide accurate information: Ensure that all data entered is precise and up-to-date.
• Consider all expenses: Include not only core housing costs but also additional expenses such as maintenance, repairs, and potential HOA fees.
• Factor in long-term financial goals: Consider your future financial goals, such as retirement savings and children's education, when determining how much you can afford.

External Influences: Economic Factors Shaping Housing Costs

Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive evaluation demands consideration of external economic factors that exert significant influence on overall housing costs.

These external influences, often beyond individual control, play a crucial role in shaping the housing landscape. Understanding these dynamics is paramount for making informed decisions and navigating the complexities of the housing market.

Housing Market Dynamics: Supply and Demand

The bedrock of any housing market analysis lies in the fundamental principle of supply and demand.

When demand for housing exceeds the available supply, prices naturally rise. This is often observed in rapidly growing urban centers or areas with limited housing construction.

Conversely, when supply outstrips demand, prices tend to stabilize or even decline, creating opportunities for buyers and renters. Factors influencing supply include construction costs, land availability, and zoning regulations.

Demand is driven by population growth, employment opportunities, and prevailing interest rates. Monitoring these indicators is crucial for gauging the direction of the housing market.

Cost of Living Considerations

Housing costs are intrinsically linked to the overall cost of living in a given region. Areas with higher costs of living, encompassing expenses such as groceries, transportation, and healthcare, typically exhibit elevated housing costs as well.

This correlation stems from the increased demand for goods and services, which in turn drives up prices across the board. When evaluating housing affordability, it's imperative to consider the broader cost of living and its impact on your overall budget.

Median Income: A Critical Benchmark

Median income serves as a valuable benchmark for assessing housing affordability within a specific geographic area. It represents the income level at which half of the population earns more, and half earns less.

A significant disparity between median income and housing costs can indicate affordability challenges for a substantial portion of the population. Analyzing the relationship between median income and housing prices provides insights into the accessibility of housing for different income brackets.

Geographic Location: A Prime Determinant

Geographic location is a primary determinant of housing costs. Metropolitan areas and coastal regions generally command higher prices compared to rural or inland areas.

This disparity arises from factors such as job opportunities, amenities, and desirability. Even within the same metropolitan area, housing costs can vary significantly depending on the neighborhood, proximity to schools, and access to transportation.

Employment and the Job Market

A robust job market fuels housing demand and contributes to higher housing costs. Areas with thriving industries and low unemployment rates tend to attract new residents, increasing competition for available housing.

Job security and wage growth also play a critical role in determining individual affordability. A stable employment environment empowers individuals to commit to long-term housing expenses, such as mortgages.

The Impact of Inflation

Inflation, the general increase in prices for goods and services over time, directly impacts housing costs. Rising construction costs, labor expenses, and material prices contribute to higher new home prices.

Inflation also affects rental rates, as landlords seek to offset their increased operating expenses. Moreover, inflation erodes purchasing power, making it more challenging for individuals to afford housing, even if their income remains stagnant.

Keeping a close watch on inflation trends is essential for anticipating future housing cost fluctuations.

Rules of Thumb: Practical Guidelines for Affordability

Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive evaluation demands consideration of external factors impacting the housing market.

However, even with a firm grasp of expenses and market dynamics, many individuals seek simple, actionable guidelines to gauge affordability quickly. This is where "rules of thumb" come into play, offering straightforward benchmarks for budgeting and financial planning.

These guidelines, while not perfect, provide a helpful starting point for determining how much of your income should realistically be allocated to housing costs. Let's explore some of the most popular rules of thumb.

The 28/36 Rule Explained

The 28/36 rule is a widely recognized guideline used by financial advisors and lenders to assess housing affordability. This rule comprises two key components:

• The 28% Rule (Housing Costs): It suggests that your monthly housing costs should not exceed 28% of your gross monthly income. These housing costs typically include rent or mortgage payments (principal and interest), property taxes, and homeowner's insurance.

• The 36% Rule (Total Debt): This component broadens the scope, stating that your total monthly debt obligations, including housing costs, student loans, car payments, and credit card debt, should not exceed 36% of your gross monthly income.

Essentially, the 28/36 rule provides a framework for ensuring that housing costs remain manageable relative to overall income, while also factoring in other significant debt obligations.

Applying the 28/36 Rule: An Example

Let's illustrate the 28/36 rule with a practical example. Suppose an individual has a gross monthly income of $5,000.

• Maximum Housing Costs: According to the 28% rule, their maximum monthly housing costs should be $5,000 x 0.28 = $1,400.

• Maximum Total Debt: According to the 36% rule, their total monthly debt obligations should be $5,000 x 0.36 = $1,800.

This implies that if their housing costs are already at the $1,400 limit, they can only allocate an additional $400 towards other debt obligations (student loans, car payments, etc.)

The Simplicity of the 30% Rule

The 30% rule offers an even simpler approach to gauging housing affordability.

This guideline suggests that you should spend no more than 30% of your gross monthly income on housing costs.

The "housing costs" in this case typically include rent, or mortgage payments (including principal, interest, property taxes, and insurance).

The 30% rule is straightforward and easy to calculate, making it a popular choice for those seeking a quick assessment of their affordability.

Beyond the Percentages: Understanding Limitations

While the 28/36 and 30% rules provide a useful starting point, it's crucial to recognize their limitations.

These are, after all, just rules of thumb.

They don't account for individual circumstances, regional cost of living variations, or personal financial priorities.

Here are some factors to keep in mind:

• Individual circumstances: Factors such as family size, healthcare expenses, transportation costs, and lifestyle choices can significantly impact an individual's ability to afford housing, regardless of whether they meet the rule of thumb benchmarks.

• Regional cost of living: The cost of living varies dramatically across different regions. A 30% housing cost may be perfectly manageable in a low-cost area but entirely unrealistic in a high-cost city.

• Personal financial priorities: Some individuals may prioritize other financial goals, such as saving for retirement, paying off debt, or investing, and may choose to allocate a smaller percentage of their income to housing.

Adjusting for Reality

Ultimately, rules of thumb are best used as a general guideline, not as strict, inflexible rules. Adjust them according to your personal financial situation, goals, and local market conditions. Consider consulting with a financial advisor for personalized advice.

The Housing Ecosystem: Roles of Key Players

Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive evaluation demands consideration of external factors, income distribution, and a multitude of financial considerations. This leads us to explore the housing ecosystem itself, comprised of distinct roles and responsibilities that impact affordability and stability.

The Landlord's Role

Landlords are central to the rental housing market. They provide housing to individuals and families who, for various reasons, choose or need to rent rather than own.

The fundamental role of a landlord is to provide habitable housing in exchange for rent.

This involves maintaining the property, ensuring it meets safety standards, and addressing necessary repairs. Landlords act as property managers, either directly or through a property management company.

Responsibilities of Landlords

Landlords shoulder many responsibilities. These duties ensure a safe and legally compliant environment for their tenants.

• Property Maintenance: Maintaining the property in a safe and habitable condition is paramount.
• Repairs: Timely addressing of necessary repairs is crucial.
• Legal Compliance: Adhering to all relevant housing laws and regulations is mandatory.
• Tenant Screening: Conducting thorough tenant screening to minimize risks.

The Tenant's Role: Responsibilities and Rights

Tenants, also known as renters, occupy a property owned by a landlord. Their responsibilities are defined by the lease agreement and local laws.

Tenants agree to pay rent on time and maintain the property in a reasonable condition.

They also have the right to a safe and habitable living environment.

Responsibilities of Tenants

Tenants also have key responsibilities to uphold.

• Rent Payment: Paying rent on time, as stipulated in the lease agreement.
• Property Upkeep: Maintaining the cleanliness and order of the rented premises.
• Adherence to Lease Terms: Complying with all terms and conditions outlined in the lease agreement.
• Reporting Issues: Promptly reporting any necessary repairs or maintenance issues to the landlord.

Rights of Tenants

Tenants are protected by numerous laws and have various rights.

• Habitable Living Conditions: The right to a safe and habitable living environment.
• Privacy: Protection from unwarranted intrusions by the landlord.
• Fair Treatment: Non-discrimination based on protected characteristics.
• Legal Recourse: Access to legal remedies in case of landlord negligence or breach of contract.

Homeowners: Responsibilities and Benefits

Homeowners occupy a unique position in the housing ecosystem. They own their property and are responsible for its upkeep and financial obligations.

Homeownership offers a sense of stability and investment potential, but also entails significant responsibilities.

Responsibilities of Homeowners

Homeowners carry unique responsibilities.

• Mortgage Payments: Making timely mortgage payments is crucial to avoid foreclosure.
• Property Taxes: Paying property taxes to local governments.
• Maintenance and Repairs: Maintaining the property's condition and addressing all necessary repairs.
• Homeowners Insurance: Obtaining and maintaining adequate homeowners insurance coverage.

Benefits of Homeowners

Homeownership can bring many benefits.

• Equity Building: Building equity in the property over time.
• Stability: Enjoying housing stability and control over their living environment.
• Tax Benefits: Potentially benefiting from tax deductions related to mortgage interest and property taxes.
• Investment Potential: Seeing the property appreciate in value over time.

Understanding these roles provides a better understanding of the dynamics within the housing ecosystem, especially as prospective homeowners or renters approach financial and budgeting decisions.

Governmental and Regulatory Impact: Shaping Housing Policies

Before aspiring homeowners or renters can realistically assess affordability, a thorough understanding of the individual cost components is essential. Housing expenses encompass more than just the monthly rent or mortgage payment. A comprehensive evaluation demands consideration of external factors, including the significant influence exerted by governmental bodies and the regulatory frameworks they establish. Government policies, often unseen, form the bedrock upon which housing markets operate and directly impact affordability for individuals and families.

The Pervasive Hand of Government

Governmental agencies, at the federal, state, and local levels, wield considerable power in shaping the housing landscape. This influence manifests through a wide array of policies and programs designed to address housing needs, stimulate economic activity, and promote social equity.

These interventions can range from direct financial assistance to the establishment of regulatory standards that dictate construction practices, land use, and tenant rights. Understanding these mechanisms is crucial for navigating the complexities of housing costs.

Key Policy Areas and Their Impact

Several key policy areas exert a particularly strong influence on housing affordability.

Zoning regulations are among the most potent, dictating the types of housing that can be built in specific areas.

Zoning and Land Use

Restrictive zoning, such as single-family zoning that limits density, can artificially inflate land values and constrain the supply of affordable housing options. Conversely, policies that encourage mixed-use development and higher-density housing can increase supply and potentially lower costs. Inclusionary zoning, requiring developers to include affordable units in new projects, represents another tool for promoting affordability.

Subsidies and Financial Assistance

Government subsidies, often in the form of tax credits, grants, or direct payments, play a crucial role in making housing more accessible to low- and moderate-income households. Programs like the Low-Income Housing Tax Credit (LIHTC) incentivize developers to create affordable rental housing.

Housing Choice Vouchers (Section 8) provide rental assistance to eligible families, enabling them to afford housing in the private market. First-time homebuyer programs, offering down payment assistance or favorable mortgage terms, can also ease the path to homeownership.

Building Codes and Regulations

Building codes and regulations, while primarily focused on safety and quality, can also impact housing costs. Stringent codes, requiring higher construction standards or specific materials, can increase development expenses, which are often passed on to renters or buyers. Balancing the need for safe and durable housing with the goal of affordability is a constant challenge.

Rent Control and Stabilization

Rent control policies, implemented in some jurisdictions, aim to limit rent increases and protect tenants from displacement. While intended to promote affordability, these policies can have unintended consequences, such as discouraging new construction and reducing the supply of rental housing. Rent stabilization represents a less restrictive approach, allowing for moderate rent increases based on inflation or other factors.

Evaluating Policy Effectiveness

The effectiveness of government policies in promoting housing affordability is a subject of ongoing debate.

While some interventions, such as targeted subsidies, can provide direct relief to those in need, others may have unintended consequences that exacerbate the problem. A critical evaluation of policy impacts, considering both intended and unintended outcomes, is essential for developing effective solutions.

Moreover, policies must be tailored to the specific needs and challenges of individual communities, recognizing that one-size-fits-all approaches are unlikely to be successful. The governmental and regulatory impact on housing is significant, multi-faceted, and requires careful and continuous evaluation to ensure that policies are indeed effective in fostering housing affordability.

So, there you have it! Factoring in what percentage of your gross salary actually goes to housing can feel a little daunting, but hopefully this breakdown helps you get a clearer picture of your financial situation. Now go forth and budget wisely (and maybe even find some creative ways to save!). Good luck!