Buying A $252K Townhouse In Georgia | Millennial Money

Krystal Anyang-Kusi, 30, bought her first home, a $252,275 townhouse, in Lawrenceville, Georgia with a down payment of $4,570, or about 1.8%. Until she moved in May 2020, Krystal lived in her parents' home in Virginia with her three sisters. This is an installment of Millennial Mortgage, which profiles first-time buyers across the U.S. and details how they purchased their homes.
Read more about Krystal's story here: cnb.cx/3k1xoTZ
In March, as Covid-19 spread across the country, Krystal Anyang-Kusi closed on her first home in Lawrenceville, Georgia.
Until she moved in May, Anyang-Kusi, 30, lived in her parents’ home in Virginia with her three sisters. But she was ready for some independence. “I knew back in 2018 that I wanted to move out of my parents’ house the following year,” she tells CNBC Make It. She didn’t expect to be moving during a global pandemic though.
Anyang-Kusi bought her 1,850-square-foot, three-bedroom, two-and-a-half-bathroom new build for $252,275, with a down payment of $4,570, or about 1.8%. She was sold on the property after seeing an online video tour of the townhome model and visiting the lot. Because the down payment was less than 20%, she pays for private mortgage insurance (PMI), which costs her an additional $171 per month on top of her mortgage payment of $1,461.
Anyang-Kusi also has about $78,000 in outstanding debt: $25,000 in student loans, $5,600 in credit card debt and $47,000 on her car note. Each month, she spends about $1,279 repaying the debt for all three: $250 for her student loan, $300 for her credit card debt and $729 for her car loan.
Yet despite her existing debt, she has no regrets about adding a 30-year mortgage.
“I did feel worried taking on an additional debt,” she says. “The thing that gave me solace was that I knew a home would be more of a long-term investment.” All in all, “I just trusted that this time is right for me.”
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Buying A $252K Townhouse In Georgia

[@CNBCMakeIt]

Are you a first time homeowner? Share your story with us for a chance to be featured in a future installment. cnb.cx/32TYZ2K​

[@jeslyntweedie8038]

What about 2 times? We bought our first home last year, now we are renting it out and about to buy our 2nd home. We are both 29.

[@justineodyne8829]

You go girl!!!

[@vicelikechart9908]

Fix millennial money to millennial mortgage :)

[@candisellis185]

I bought my first home at 26 in 2017 in Tennessee. $147k for 2000 sq ft, 3 bedroom 2 bathroom home. I have no other debt at all. This girl's home is nice, but dear lord... definitely someone who cares more about their home aesthetic over their financial health.

[@CardenFinancial]

I brought my home 2 years ago at 22 years old! I have a 20 year mortgage, and I'm planning to have it paid off early. Purchasing a home at a young age is a smart financial decision!

[@TMcocoa]

95k a yr is great money for a single person with no kids

[@q2travel]

And she's still tens of thousands in debt 🤨

[@user-xh5rs7jn2q]

@@q2travel That part

[@mace8704]

Shame she’s spending it on financing cars, student loans, and credit cards

[@jasminebernardeau4]

especially in georgia!

[@twincherry4958]

Not really...

[@454lin]

Just downgrade the car and pay off the cc debt 💳 and you’ll be fine

[@DewTime]

Solid advice. But she’ll never do it. People in her position rarely do. She doesn’t want to lose her appearances to all her friends and family. It’s more important to “show” her success than to actually be successful (money in the bank)

[@RiFit]

@@DewTime when did she say that though lol 🤔 you know her?

[@Jonathan-uq3zu]

@@DewTime C’mon man! Be positive for once. You can’t just assume what she’ll or won’t do🤨🥴🤦🏾‍♂️

[@Jonathan-uq3zu]

@@RiFit He’s hatin hatin 😂🤦🏾‍♂️

[@DewTime]

@@Jonathan-uq3zu actually I can assume. Most people in her position find it impossible to cut back on the lifestyle creep. This best she can hope for is to not increase her expenses even more than they currently are.

[@MrAwesomestar7]

Why do people waste so much money on a car. Just buy something cheap and used till you can actually afford to buy a new one in whole

[@gregoryvierra6114]

As opposed to half a car? Lol

[@Power_Verse_]

@@gregoryvierra6114 one WHOLE payment

[@jaedevrick6621]

I guess some people don’t want to buy a car straight out

[@colorblindkid720]

Her buying a $50k Acura was stupid. Her car payment is probably around $1,000/mo with insurance included. Her car payment is the same as her mortgage minus HOA, PMI, and Utilities.... so sad

[@JR-yt3go]

But honestly, as a single working professional living on her own, the steep car payment probably doesn't phase her.

[@jasonkirby1]

She has done a great job with that house. Decor is on point and full of personality

[@gregoryvierra6114]

True but this is about money and she clearly has room for improvement.

[@colorblindkid720]

You mean the credit card company has done a great job decorating that house

[@MyBloomingLife]

@@colorblindkid720 Nah, they didn’t decorate it. She could’ve used a credit card to buy the decorations, but they didn’t decorate it 😂

[@gemmauren9105]

except for her office 😂😂 an empty room with a desk

[@AndSoWeLaughed]

@@gemmauren9105 maybe she’s the type who doesn’t rush to decorate and only fills it with pieces she actually likes. Plus with everyone working at home only recently, she probably just bought the desk due to her needs and not her style. Give her some time! 😅 I made the bad decision with furnishing my living room with IKEA pieces, hated them and over the year I found stuff I liked more very very slowly.

[@JDizz0413]

This goes to show you that just because you’re making $95k doesn’t mean you’ll be successful financially.

[@nicolesmith7611]

I said the same, her debt out weighs her income.

[@slayden633]

Your debt will almost always outweigh your income, a home will almost always be more than what you make.

[@JDizz0413]

@@slayden633 we're referring to her debt to income ratio...Which is payment based.

[@sabrinatatalias4277]

@@slayden633 A home is a different kind of debt, especially if you pay it off - then it is an asset, and in the future used as an investment piece given inflation/sell at a upsale in the future.

[@Droidbot74]

This is an idiotic comment. She bought a house in a growing area outside of ATL that will likely appreciate in value. In 30 years when she sells this home it’ll likely be worth much more then what her home is currently valued at.

[@kayseacamp]

This video is a shining example of how keeping up with appearances doesn’t make sense financially. With that level of student debt, car loan, and basically a nonexistent down payment she shouldn’t have bought this much house.

[@clari5683]

Yes.. and I wonder how she will paid her other debts if half of her income is going towards the house...Hope she changes her mind soon because she sounds a lovely person..

[@skylinec83]

I agree that she’s a little in over her head, but to be fair, if she got rid of the car and downgraded to something significantly cheaper, her overall picture would be much better.

[@manhattan1vato]

You are right. This means -240.000 for the house, -25000 due to student loans, -47000 for the car... Congratulations, you're net worth is beyond -300000. I cant understand how many people in the US have forgotten the kind of mentality that made your country prosperous and thriving in the first place: hard work, saving and investing. It was definetely not boasting, consuming and spending beyond your means.

[@skylinec83]

@@manhattan1vato The amount of debt is important to consider, sure. But I think the bigger issue here is the type of debt. If she has 300k on a bigger house in the same neighborhood, that wouldn’t really be that bad considering housing appreciation and assuming a healthy emergency fund. But 300k in debt with 25% of it in depreciating assets or unforgivable debt is a kind of bad risk-to-reward scenario.

[@manhattan1vato]

@@skylinec83 I agree partly. Not all debt is the same. If you are able to invest and allocate capital with a profitability that surpasses what interest rates mean to you monthly, then you are making good use of your means and skills. But this is seldom the case as this is complicated even for professionals. From my point of view common sense tends to pay off better and in general that means fewer credits and debts and living below your means. I undertand, though, that few people these days would decide to live frugally and in a low income area , sacrificing the present for a better future. Interestingly enough this frugal and investment-oriented mentality is what is making the Chinese become the first superpower, so maybe some Americans should reconsider their priorities.

[@iPodKingCarter]

Dave Ramsey would tell her to sell the freakin car and hurry up and start that debt snowball so she can build wealth plus live and give like no one else 🤣🤣🤣

[@Shareezo]

You my man, are woke😂😂

[@ktavolassi]

crazyyyyy car debts nearly the price of the house hahahahha

[@SarahR2D2]

I thought this video was her buying a house cash. I'm not impressed by a mortgage especially with that little down payment

[@missdesireindependance5194]

Yep!!

[@elsingon7464]

Graham Stephan : 😏

[@Marvelous_M]

On a positive note I really like her confidence and how much risks she took. You never really know the outcome of a decision until after you make it. Wishing the best for her and success!

[@MsSoaringstar18]

Absolutely!!

[@daniellereid7576]

Ryte her house is very open and nice got her own without a man ok now !

[@ITIets]

Me- “man I wish I can be interviewed for millennial money! Also me reading the comments- “ I never want to be on millennial money they would murder me in the comments”

[@jackiereacts7201]

LOL

[@quentinm.williams9]

same. it would make me so WEARY and critical of every financial decision I make because they are SO RUDE ABOUT IT. I get if people mess up but no need to cuss them out or make them feel inferior over some silly financial choices. they should just help and advise ppl to do better instead of putting them down. that won't motivate them to do better

[@Lisa-em6ed]

Everyone are financial experts here ☺️

[@psyko0906]

Jesus her car loan is almost twice her student loan

[@twincherry4958]

Is that real!?

[@carmellabrown3335]

She can afford it.

[@psyko0906]

@@carmellabrown3335 I’m sure she can but she probably doesn’t have enough to save or invest every month. I made my own mistake by purchasing a house while in debt. Her car is more than half of her annual income. I would’ve cleaned up the debt first and then purchase a house. She would’ve had more down payment saved to avoid paying the PMI.

[@Harlem_Renaissance]

A car shouldn't be almost half your income. This is definitely not smart. The car will be highly depreciated once she finally pays it off. Her totally debt is 80% of her annual income 🤦🏿‍♀️

[@dominick6131]

@@carmellabrown3335 no she cannot afford it. Just because some dealer says you can afford it by making the term really long (72 months) does not mean that is a good idea.

[@mace8704]

Whew. A lot of unwise financial decisions going on here. Having a $47,000 car loan with a $90,000 salary when you have $25,000 in student loans, and $5,600 in credit card debt is a recipe for disaster.

[@nightingaleofficial3604]

Yup and she’s probably feeling undue pressure to appear successful to her family. She’s in HR, she doesn’t have an MD, JD behind her name. A lot of pressure on college educated kids of new immigrants.

[@zainsafdar6744]

Dave Ramsey!

[@nicolabent5515]

She should have paid off her debts first before purchasing a house. This is the recipe for being house poor.

[@StilettoShay]

...in real life, she probably only spent that much on her car because she was living at home with her parents at that time.

[@StilettoShay]

@Eddie N I didn't comment to imply that her actions were wise, but yes, a car is just a car and it will forever be a bad decision for anyone to use the amount of half of one's salary as a price point for purchasing a new or used vehicle.

[@mattsmillennialmoney39]

GET RID OF THAT CAR!!!!!

[@courtneys1543]

No way! She shouldn’t have to downgrade, it’ll eventually get paid off, and why start over and pay off something that you don’t want 🤷🏾‍♀️

[@mugiwara9507]

@@courtneys1543 u not very smart

[@meetkrissyj1327]

I agree. Get rid of the car that’s probably $700-800 a month even with a low rate. She can use that money to payoff her personal and student loan debt. Question for you Matt. Do you think w/ $95k income & a $250k mortgage shes house poor? Ive seen a lot of comments saying that. I don’t think the house was a poor decision or too much on her income. $1600/$1800 month in mortgage is reasonable for her income, I think.

[@whyneed1215]

@@meetkrissyj1327 30 year mortgage is the catch. The house is too much alone. She'll sell for a profit in 10 or so years, i hope.

[@maroontiger]

DOWNSIZE THE HOUSE!!! While we’re at it..

[@sugalips428]

I make the same as her per year and I bring home $5158/month after taxes, health care, and 401k contributions. If her numbers line up with mine (I know they won’t be exact due to her taxes and other deductions) that would be 43% of her take home pay going towards housing. That kind of puts her in the house poor category; plus she has other debt repayments. It’ll make it hard for her to save for other goals like vacation, retirement, house maintenance, EF and etc. I have zero debt and I wouldn’t buy a 250k house on my own unless I had a big down payment to get the monthly payment below 30% of my take home pay.

[@DewTime]

Very smart 🙌

[@paceline]

Bingo!!

[@GreedomWorldwide]

It’s almost like her decision was rushed. Probably wanted to get out of her parents house ASAP. Lots of people are moving here. They started on about 80 new homes in my development since February and it’s 1 left.

[@itsXallXchildsXplay]

Exactly!

[@trycee9857]

Smart girl!

[@amolgill7480]

Dave Ramsey would have a heart attack seeing the car loan. 🤦‍♂️ Graham: House Hack!

[@DewTime]

I’m happy for her getting this new home. I do feel like she’s trying to impress a bit too much. She made a very small down payment, could barely afford the furniture, but has student loans and signed up for a $47K car loan? I would love for Dave Ramsey to react to this video. The reason why I caution against her decisions is because there’s no security. If she barely had enough for down payment and furniture, that means she has no emergency fund. So let’s say she loses her job, then what? She loses her fancy car, her house, and she’s delinquent on her student loans. Some people think impressing the joneses is more important than financial security.

[@emmaq3250]

That’s the lifestyle around Atlanta . Everyone lives above their means, and they buy huge cheaply constructed homes on tiny plots of land

[@mrileyga]

I don't think she's trying to impress anyone, she's a first time home buyer and just didn't plan or budget well, it happens. She probably should have taken a first time home buyer's class and gotten preapproved to see how much house she could actually afford. As a single woman homeowner I can relate to her having to make this huge decision and go through the process on your own, it can be overwhelming.

[@DewTime]

@@emmaq3250 sounds like a city full of fake people. The funny thing is, living beyond your means would have more utility in a city full of modest people. Because then that shiny new car would actually turn heads. But if everyone in the city is doing the same thing you’re not going to catch anyone’s attention.

[@cinderea]

She makes 90k. She doesn’t have an income problem but a savings problem. Definitely need Dave Ramsey

[@DewTime]

@@mrileyga huh??? $47K car loan, more in student debt, can barely afford a down payment and you’re trying to say she’s not trying to impress anyone? She said she’s hosting thanksgiving dinner this year. She’s definitely trying to impress. She wants her friends and family to see how successful she is.

[@user-hd8ej8yx9p]

1.8 % down? she's financing THE FULL PRICE of the house. if you can't afford to put down at least 10% then you can't afford the place man. Put more money down!!

[@DewTime]

Exactly. Say she loses her job and tries to sell the house, she pays 6% of the $250K in realtor fees. So she won’t have enough to pay back the bank without dipping into her non existent emergency fund.

[@kwameg.114]

@@DewTime She can simply rent the house

[@derrickstewart9485]

@Jimmy Batson I live in Lawrenceville, not sure exactly where this house is, but all prices are inflated right now, and I can promise you, you can't find anything in this area below that. I said the same exact thing, I have been looking for a house and the search is frustrating because the prices are wayyyyy more than what they were just 3 years ago. I have watched these prices go through the roof in just the last year, and they are not slowing down. Trust me, she is right on par with everything else. I have a friend that just bought a townhouse in Lawrenceville as well, he actually paid 2000 over asking price, I think he paid around 258000, and it actually appraised for the amount. It is bidding wars going on around here right now, there were 12 offers on his house, in a matter of 3 days.

[@kwameg.114]

@@DewTime Realtor fees are paid by the seller

[@DewTime]

@@kwameg.114 yes, I know that.

[@MeZzZzZzZzZzZzZzZzZ]

$2250+ in monthly expenses for a $250k home....yikes. she is getting robbed with PMI and high property taxes. Also please tell me she knows a 50k car loan is insanity on her income?

[@starrkiya]

Her PMI is only $171 and property taxes is only $252, property taxes on my home is $600, it looks like she got a pretty good deal especially since she said she’s in a good school district where property taxes tend to be exhorbitant

[@DewTime]

Everyone keeps ignoring her car loan.

[@jakeraland5806]

Georgia has a huge state tax

[@starrkiya]

@@stevenjmyu yup, property taxes in my area is insane because it is in one of the best school districts . I’m going to do the home stead exemption tho which should lower it to $400 a month.

[@starrkiya]

@@stevenjmyu and no I’m talking monthly.

[@lilnet205]

I’m Ghanaian & live in Georgia too! I plan on breaking the cycle of staying with my parent until I’m rescued by this unknown husband of mine. You have a beautiful home! Loved this video!! So inspiring.

[@JDizz0413]

Lol “rescued” by your husband. How about you establish some independence & yourself first. Your man should enhance you as much as you enhance him. You aren’t an accessory.

[@JDizz0413]

@tinkbetty I’m a triggered Karen. This entire vid triggered me. I’m sorry I’m so triggered.

[@twitchell1]

Nice one dear

[@kojo898]

I mean if you already graduated, and have a good job you can start saving towards it. America is all about having some money saved up. Most important thing is not rush

[@austinbranion8699]

@@JDizz0413 I think you misread. She’s saying she’s going to break the expectation of waiting for a husband to rescue her-you’re literally affirming what she said, not rebutting it

[@SheIsBlessed]

She furnished her home really nice and must have spent quite a lot initially.

[@arcisvar4863]

She works from home, so its worth it honestly

[@dominick6131]

Probably why she is in credit card debt. Very unnecessary in my opinion. You can just furnish the home gradually as your paycheck comes in, rather than buying everything right away on credit cards. A mattress on the floor never hurt anyone. Same with the car. She needs to stop being concerned about "showing her success" and start actually being successful

[@amigam3280]

@@dominick6131 Gotta have nice furniture for the background of those zoom calls yo

[@elishamoody1390]

@@dominick6131 Maybe her parents helped her with certain this also. We don’t really know the full back story.

[@ivyhe7234]

@@dominick6131 Agreed, especially she did say that she's gonna host thanksgiving, so I guess this video was filmed shortly before, so sales season is just around the corner. She could've waited for a few months and just save a ton of money as well...

[@zee9000_]

Do not follow her way. Save yourself.

[@czogg99]

No risk no biscuit. She is taking risks and believing in herself. She will be successful. She comes from good roots that run deep.

[@Teannaschannel]

The house is beautiful but I probably would have paid down my debts in other areas first. Just seems like a high amount but ofc that’s subjective.

[@user-hd8ej8yx9p]

Not subjective at all. Her net worth is negative 350K

[@Teannaschannel]

@@user-hd8ej8yx9p I was referring to pre-home loan debt but yes now it is significant.

[@blackmillennial2542]

@@user-hd8ej8yx9p 🤣🤣🤣🤣🤣

[@taquancampbell8544]

She could have just bought a rental property for the same price. A home is a liability not an asset. Appreciation is not guaranteed above its 3% annual projected increase which is equivalent to yearly inflation.

[@Teannaschannel]

@@taquancampbell8544 💡

[@beckhamalexis7093]

Good luck to everyone on their journeys! You got this! Sharing knowledge here!

[@moderndifference7654]

Excellent all the way around man

[@joicewelton4235]

Nice video it was really helpful ,What bitcoin will do will shock everyone cause I see it above $50k and the best thing to do now is to actually invest in it and let your money work for you Currently Mrs Deborah Payne weymon helps me trade and my crypto portfolio has been on a steady rise

[@ninagrace5455]

Another good one, Deborah Payne is becoming so helpful than I ever imagined she'd be in this space

[@xavierreginald9536]

Jobs will pay your bills, business will make you rich but investment makes and keeps you wealthy ,the future is inevitable successful people don't just become like over night,what most people see as glance wealth, a great career,is as a result of hard work,strong purpose and hustle over time

[@williammarulandamorales4319]

Right now Bitcoin has a lot of opportunities, much more than gold I would say, bitcoin is the new generational Gold.

[@blairemoskowitz7641]

CNBC: Georgia is trending! What can we post about Georgia? Do we have a video about Georgia? Use that SEO!

[@oscarmadrigal8226]

Wow you broke the algorithm code. I did not think about that.

[@paceline]

It's trending because of the election

[@angelikadepelika3758]

Georgia is stressing me out all the way in Europe!!!

[@ShanTalks-Podcast]

Hahaha I peeed that too lol 😂

[@cogitoergosum7945]

Biden just took the lead!

[@TeamYELLOW17]

Well, I appreciate the vulnerability that goes into this type of content and the individuals that participate.

[@WinenChill]

This home & decor are stunning! Congratulations 💃🏽💃🏽💃🏽

[@Happypappytappy]

47k car loan. No words.

[@DewTime]

Way too much

[@Mustangkid29]

Keeping up with the jones

[@susieblanco2722]

@@Mustangkid29 according to Dave Ramsey,,, she’s like right at 50% of her salary ..

[@LuisCP85]

@@susieblanco2722 no, Dave says you need to pay cash for it. You missed that one

[@twincherry4958]

🤯

[@rakshi27]

This is exactly on how not to spend. She's literally digging deep on debt!

[@youngblisslife4308]

This wasn't about her finances. She probably saved before hand and have savings

[@ace50105010]

Debt is Slavery of the Free. She is living a Lie. This is why the rich keep getting richer. Calculate all the interest she is paying. She is a slave to the CEOs of Wall Street

[@thebaglady1443]

@@ace50105010 you are right! why did she not put down a larger downpayment? cause she had no money! 50k car loan is stupid and I rive. BMW! My house is more expensive than hers and I pay the same in mortgage cause I put down more.

[@sugalips428]

@@youngblisslife4308 If she has savings she shouldn’t have CC debt. And if she does have savings she needs to knock out that $5600. I don’t know why people feel good about having money in the bank when they are paying 26% in interest per month on CC debt.

[@fredmagic09]

Honestly, the only thing she needs to do is get rid of the car she has. $47k on a car is just absurd.

[@jema64]

Congratulations to this beautiful lady. Many are talking about her financial choices but our security and provider is not of and from things of this world. God will bless her with wisdom to maintain and she will be fine.

[@phucle2076]

What she is doing is the opposite of wisdom. A market downturn or a couple missing paychecks will spell disaster for her. At this rate she cannot afford to pay down agressively on anything she owns because has little to no wiggle room after servicing her debts. And she has to keep this up for the next 10 years. That is a lot of unnecessary risk she took.

[@ifonlyunu994]

Absolutely. We have got to end this fearful state of mind. She is going to make it. Ppl are scared of debt but debt is what our system is built off of. Also the richest people borrow and get the money and they learn how to double it. Home values can appreciate especially in a growing Metro area like Atlanta.

[@ifonlyunu994]

@@phucle2076 A market downturn??We haven't had a recession in over 10+ years. She's fine.

[@phucle2076]

@@ifonlyunu994 lol What do you think last year was? A lot of people in the hospitality industry was wiped out.

[@aponteaida913]

There is nothing wrong about giving ideas for someone to be safer and manage better. I was making the same amount and never thought about maximum savings until covid hits and I was furloughed for about 3 months. The scariest moment of my entire life, and I wished I had saved every penny and not begging my job to hire me back. So we must be open to listen.

[@blablek91]

she could have easily saved for this house, or at least for a decent down payment if she makes 90k a year.

[@thehoneydeev]

I don’t know... I make more and saving is sooo hard😩

[@skylinec83]

Yeah. When I saw 1.8% down and $10k total to close, I was like....”ok she wanted to maximize on capitalizing on any opportunity cost. Risky strategy but she’s young and it could pay off.” When I saw her current other debts, interest rate, and saying she only had $2k left after closing.....”I was like....this is risky but not in good way.”

[@4islandbeauty]

I'm in the Bay Area you can't find homes at this price. 400k and up is the norm here...young lady has alot of dept yikes. Beautiful home though..

[@MultiSassy84]

@@thehoneydeev Saving can be difficult, but not impossible. She has no children, so where exactly was all her money going when she lived at home with her parents? She has student loan and credit card debt. Her issue is she has a $47,000 car loan. She does not need to have a car that costs that much. She makes a lot per year, but doesn't know how to manage it and is literally squandering it.

[@ahastar1141]

@@MultiSassy84 I would assume furnishing the home

[@randym5515]

Oh my debt. Downgrade the car and pay off the credit card. Congrats on the home!

[@bonquiqui874]

Seriously why does CNBC highlight people making bad long term money decisions?!?!

[@dominick6131]

Entertainment

[@DewTime]

Because it’s entertaining and quite frankly, common.

[@naomiwilliams8850]

Because they show how real people spend their money and let audience form their own opinions.

[@fluminesesoc]

Lol 😂

[@ahastar1141]

They likely get more interaction in the comment section because people get fired up. That only helps them

[@sweetlou7558]

When people wonder why the housing market crashed in 2008... this is why

[@sweetlou7558]

give is 2 years and we'll be in the same place

[@amberscott4262]

are u insinuating she has an adjustable-rate mortgage

[@sweetlou7558]

@@amberscott4262 I'm telling you she is over levered relative to her income.

[@MurphDawg4767]

I cannot wait until Graham sees this. This may cause him to knock over the iced coffee.

[@DewTime]

Lmao right!!

[@colorblindkid720]

At least it’s only $0.25 worth!

[@Empress1966]

who is that?

[@MurphDawg4767]

@@Empress1966 Graham Stephan. He has youtube channels discussing finances, investing, and he also reacts to money videos dealing with millennials. You should check him out.

[@soundsspace3739]

Omg I was just thinking about it

[@namastemcl]

Way to large of a car loan especially working from home.

[@nicelookash]

Im sure she had it before she started working from home

[@amigam3280]

@@nicelookash It's an insane car even while not working from home. She should really sell that car as prices for used cars have been going up due to supply shortages from the pandemic. Sell it and get something for $10k or less

[@colorblindkid720]

@@nicelookash I’m sure she did. I’m positive it was still a horrible decision then.

[@simplylicia]

Curious as to what she was doing with the 95K while staying with her family? Still, happy for her accomplishment!

[@DewTime]

Clearly not saving for a sizeable downpayment. She was flexing

[@StilettoShay]

...spending half of it on that $47,500 MDX *shoulder shrug*

[@DewTime]

@@StilettoShay good catch I was wondering what kind of car she had

[@simplylicia]

@@StilettoShay can't be, sounds like she's just starting to pay for it. That doesn't explain the lack of savings, cc debt etc. For a single woman with no kids and that salary

[@taggedgalaxy]

She has a healthy income, but clearly has been mismanaging her finances, she didn't save enough for a down payment, completely drained her savings buying the home, has $78,000 in debt not including the mortgage but does include and $47,000 car. Wishing her the best though and hope she manages her finances better in the future

[@dek1518]

“Owning” a home doesn’t mean you should put yourself so deep debt. This is the problem with America. Trying too hard to keep up with appearances and live that American dream. There’s no rush. Lower the debt first.

[@xtrey19x]

You’re acting as if house debt is the same as car debt or cc debt. Assuming the house/land doesn’t lose value then all she’s doing is parking her cash in the house/land she owns. You rather she pays a similar amount in rent and pay off someone else’s mortgage?

[@xtrey19x]

@MrHoppers002 Some people also rent because they are afraid of debt. Recently rules like the 10% rule is being applied to things like house buying, which I find to be illogical. I think the original commenter is one of these people whom are afraid of debt.

[@breezluize3282]

I appreciate how pleasant a person she appears to be.

[@CODtpk]

GRAHAM!!!!!!!!!! i think this is every thursday now lol

[@hearthealthyhustlebyjonath7414]

haha

[@md.manzeralam6508]

I can see Graham screaming YOU BOUGHT A HOME WHILE HAVING CREDIT CARD DEBT!!

[@nickdi1952]

It will be a brutal Graham review!

[@shaereub4450]

I think he'll flip out more on the car loan being WAy more than the student loans

[@rzya.11]

I like her home. It’s nice size, good price, and nicely decorated! She has good taste. 😄

[@tb11212]

Wow, her house is beautiful! And she’s right. That home in the DC, MD, VA area would easily be $600k

[@andredavis2928]

In Baltimore/Washington in Anne Arrundel it'd cost like 400-450k :(

[@letskeepit1003]

In the city of Atlanta it’d cost 450... 800 in Buckhead. Lawrenceville is a suburb of Atlanta. That’s why it’s so affordable. But that’s rapidly changing.

[@ahastar1141]

@Jimmy Batson at 95K a year it is

[@IAmYokoHaze]

This is inspiring and she is a young successful black woman blessings to her

[@lizard1001]

1.8% down payment?? That's so low! 😱

[@Essays4College]

If I made 95k I would save as much as possible and try to GTFO of the corporate world as quickly as possible!

[@F22donny]

Yup

[@supremeetnel7707]

why? educate me

[@GeorgiaGirl__]

Go girl!!! I plan on purchasing my home in 2023. I only make 48k but I know I can do it!! Georgia has amazing homes and I can’t wait to buy my first one for me and my daughter

[@onose9977]

The car and credit card debt is definitely a big problem.

[@ToddBaldwin]

Congrats on your new home! It is beautiful!!

[@allthehui]

I used to live in the metro-ATL area and it's a great place to live!! Congrats, Krystal!

[@whatcanisayireallylikecurr9697]

I also work in a big 4 accounting firm (not as a recruiter) and honestly, seeing that she moved out of her parents home in her 30’s, I’m shook how much debt she has. She may not be living paycheck to paycheck but she’s one month of unemployment away from falling delinquent on all her payments.

[@youtubebystander9294]

300k in total debt? It could only be me, but i think shes really broke.

[@DewTime]

She is definitely broke

[@kieraholmes3828]

@@DewTime and you're definitely a hater; but hey it is what it is

[@MrPrettyBoyChina]

@@kieraholmes3828 he is right she is broke. Car loan and credit card 💳 payments are the major problems. Make no sense for a person making 95k a year with no kids to have 5k in credit card debt.

[@cholm8395]

House poor. Consumer debt. Why is this celebrated?

[@xtrey19x]

Better to be “house poor” than to have rent expense. If you do the math and assume she’s paying federal, state, local taxes at a total of 30% then she should have under $30k in cash left over for the year after paying $1k/mo for the car and $500/mo student loan. Hopefully that credit card balance is interest free for a certain time period. Yes she bought more car than she needs, but she can afford it in the long run. I don’t have a problem with her betting in herself by taking student loans. People should be celebrated when they bet on themselves and are succeeding, because too many people make too many excuses for why they for example don’t have the skills needed in the 21st century or won’t move to where the jobs are.

[@smkace5558]

@@xtrey19x There is no reason why she should be driving a 47k car when she makes 95k per year, has 31k in other debt and works from home.

[@leathelandlady]

Because people can't do basic math.

[@cholm8395]

@@xtrey19x not taking about student loans. Her income should cover that. She is paying ~$350k for her 'asset' and doesnt realize it

[@kesydjomotchouamou3603]

That’s what I want to know

[@businesswithmariah]

The one thing I wish I wouldn't have did 2 years ago was purchase my newer car. My old car was only $290 a month and of coarse I got a better job and made more so I wanted to upgrade my car, the place I purchased it from said I had to get a car worth more than 20k or they wouldn't give me a new loan. I should've looked somewhere else because it didn't make sense to me. So now my car payments are 445 a month which sucks and I purchase my house about 9 months ago and its only 629 a month im like dang my car note is almost as high as my house note and thats way to high for a car im thinking. So now I'm working on paying my car principal down to atleast even out the cost. I definitely feel ripped off now, I love my car but ik I could've saved more if I would've waited.

[@Debbie-sz8nk]

$629 😳 Where do you live?

[@Kuwkay]

629 for a mortgage? Where

[@taylormoak2002]

Its ironic when people justify a big purchase as a "long term investment" yet they have bad debt and are spending way to much of their income...

[@bhitz]

not very smart to carry 47k on a depreciating liability and wasting 171 every month on PMI. best of luck.

[@carmellabrown3335]

Are you familiar with how a PMI works?

[@naya4607]

“This year, I plan to host thanksgiving” *checks date* oh no ma’am!

[@chownful]

Still having it.

[@Bradley_T]

@@chownful hopefully not

[@danreyess]

why do i feel like i saw this already..

[@BM-zm1jl]

Because you did. It’s a reupload

[@Zen-cx5tc]

Me too

[@beachrockmoxam2729]

Me too, last week 😃

[@siphokazileratomalinga2969]

They interviewed her for a segment that spoke about home ownership Vs renting for millenials. Something about whether buying or renting brings one more happiness.

[@afr0flava]

Saaaaame

[@jordant6722]

So inspiring! Krystal, thank you for sharing your journey with us!

[@nightingaleofficial3604]

From the opening statement I could tell she’s a child of immigrants...Caribbean or Africa🤣🤣🤣 and I was right by that last name. Ok back to watching!!!

[@nightingaleofficial3604]

Lovely_Day point is I could tell within the few opening comments that I already knew her background and how her story would unfold.

[@GreedomWorldwide]

That wig

[@nightingaleofficial3604]

Lovely_Day these states are becoming too expensive. Immigrants and/or their kids who are upwardly mobile want to move to low cost states so they can buy houses, preferably mini mansions (status symbol) they wouldn’t have been able to afford on their nurse income in say New York without killing themselves. Also the south allows them to in a way gentrify depressed areas...they get to build businesses, etc.

[@itsk3v]

​@Lovely_Day this is not true at all. have you ever been to texas? florida? ohio? michigan? minnesota? theres literally hundreds of thousands of black immigrants in each of those states. texas might even be in the millions at this point

[@itsk3v]

@Lovely_Day I was responding to your comment about black immigrants being mostly congregated in NY/NJ/CT and California. It's just not true. Was simply shedding light that there's plenty in other states. Not sure how you can consider over 100 thousand people in each of the states I mentioned a "small community"

[@liviaclaire]

Hey Krystal, it is great to see you are doing so well for yourself! At first I did not recognise you but the name and the fact that you also told me that you and your friend Kataisha were from Virginia, I remembered the photoshoot I did for both of you a couple of years ago in Milan. I wish you both the best!

[@gabriellejackson7409]

Congratulations! The home is BEAUTIFULLY decorated, love the interior design

[@JoshAQ]

She is brining home, after taxes and health insurance, approximately $5,000 per month. Great job on having such a high income! Your income is your most effective method of building long term wealth. But after servicing the mortgage and other debt she has $1,473 to live off of. That doesn't seem like a lot left over. Actually her debt payments are 70 % of her take home pay. That isn't healthy. After health insurance, food, entertainment, car insurance, and the like I don't think she has more than 500 left over at the end of the month. 500 left out of 5,000 is still a ten percent saving rate I guess. So she is slightly above average for the United States in terms of monthly savings of take home pay. Not the way I would live but then again I am 36 and retirement seems closer and I don't make 90k a year either. She could have a large 401k or Roth since she didn't put much of a down payment on the house and was living with her parents for at least 8 years while making money. It would be smarter to leave it in the 401k instead of withdrawing it for a down payment. Although she could have also been helping her folks out with the mortgage during that time too I suppose and that is why she doesn't have much. Her parents come from a different culture with different norms and it may be expected that the kids pull their weight in terms of utilities and mortgage if living from home. Either way good Luck Krystal, I hope life is fair and kind to you, and thank you for sharing a small part of your life with us!

[@nkp650]

You can always refinance. Interest rates are in the 2’s right now.

[@DewTime]

Yeah but there’s also 1% fee you have to pay to refinance. She can’t afford that. She can barely afford furniture. Plus she’s not getting an interest rate in the 2’s when her loan to value is more than 95%, plus student loan and 4 $47K car payment. Lenders look at the whole picture.

[@froyokid]

@@DewTime she can qualify for refinance. The furniture seems like a jab and you hating. She has furniture now. Problem solved. She has decent income. Is this personal? Cause you’re attacking her in every comment 🙄

[@DewTime]

@@froyokid did you not read my comment about the 1% fee required to refinance? That’s $2.5K she’d have to pay.

[@dennismensah6498]

She can get roommates too. Chill guys

[@SirD1]

She is a walking broke! She has no money to refinance

[@faithpixie]

Wow, never been so early! Nice house. Good for her. 👏👏

[@bonquiqui874]

Why in God’s name was her down payment only 1.8% if she makes a high salary and waited to buy a house???!??

[@DewTime]

Because she spent most of her savings on credit cards and new cars

[@maroontiger]

@@DewTime because she lives in atlanta.... and i’ve been here since 2001... people down here love to flex... McMansions, Hellcats, the home of the strip club... the home of alot of questionable financial decisions

[@adamcooper1544]

Congrats on the house. Lots of KZbin hate as usual. I’m sure she’s aware of her lavish expenses. That doesn’t matter to her. Her tone is telling us that she is very proud of all accomplishments and that’s what’s important to her. It’s not up to the comment section to decide how she should spend her money. Happy for you!

[@amigam3280]

Is going into massive amounts of debt an accomplishment to be proud of?

[@dominick6131]

Do you not know the difference between hate and constructive criticism?

[@DeidreGeorgia]

Criticism are coming from people who aren’t and will never be this close to accomplishing the goals she has achieved for herself and the icing on the cake…she’s a black woman. Sending good vibes her way and may the Lord continue to bless her! 😊

[@amigam3280]

@@DeidreGeorgia the race or gender of the person has nothing to do with the fact that having nearly your entire salary in consumer debt and then adding a mortgage you can't afford on top of it is a terrible terrible idea

[@dominick6131]

@@DeidreGeorgia ugh no.. I'm black, make twice as much as her, and would never dare spend 45k on a car. Her being black makes it even more important to save more and start building generational wealth. The money she is blowing on a car could be used to put her future children through school without students debt. She could be a millionaire before age 45 if she focused on "being a successful black woman" instead of "looking like a successful black woman"

[@carmellabrown3335]

Her home is beautiful! I love seeing young people going for there goals. Her interest rate is not that bad at all. My was 3.9, and I bought my first home five years ago.

[@kenyanbutterfly5482]

Proud of her for making the decision of buying a home on her own. I don't live in America so am not exactly sure how much debt she is in or not. I just wish her the best.

[@NHCS23]

Pmi vs down payment.....Pay extra 100 per month live in your home or wait an save up, take a few years, save some more then buy. All the while the person paying pmi has been building equity an home gaining in market value per year. While the other person saving paying a higher price than years ago when they could have bought.

[@chantelafua3383]

So proud and happy for you, Krystal!👏🏾💕

[@vernongomes]

I've been looking too! That looks hella good for $252k (brand new?). I'm from Gwinnett and never thought about checking out Lawrenceville.

[@Younginvestor99]

Dave Ramsey once said, “A house should be a blessing, not a curse.” She should have paid off her other debt first.

[@taylorwilson525]

Beautiful home! Am I the only one who was dying to see the infamous car?

[@jerrypark23]

This is hilarious for me because I bought an apartment in NJ across the bridge from NYC. The apartment was 274k and is only 772 sq ft. I pay 1.2k a month in just property taxes and HOA fees excluding my mortgage. Crazy, how much you can get outside of major cities. In NYC, my apartment would literally cost 2-3x with 2-3x in monthly payments for property taxes and HOA fees.

[@Kcelloo]

Congratulations on your new home, it looks lovely!

[@iamkerenlouise]

Graham Stephan & Dave Ramsey would be disappointed in all the debt (i.e., 47K loan for a car, $5700 credit card debt, etc.); wish she would have paid down the car and credit card debts first, then purchased when she was more financially secure. Wish her the best and congrats overall!

[@happysunshine5906]

True.

[@VerStarr]

nice!!! way to go, Krystal! Another Millennial Mortgage on the playlist :D

[@ibreatheglitterr]

Ok but can we talk about how drop dead GORGEOUS she is? 😍

[@paceline]

She's single and has a spare bedroom. Call her up!

[@blahb1103]

She is you’re not

[@ericabynum9970]

Rozalia West yes she's gorgeous. Everyone on this post just haters.

[@ThisIsRockyTV]

Here to read the comments from all the financial advisors

[@Boner_Champ69]

$252,000 is almost a down payment on a home in some other parts of the west coast.

[@monkaround7830]

When you see this before Graham The student has become the master

[@jayc7612]

Dang she’s broke. House poor, Car poor, and In debt...

[@infinitedreaming222]

But she looks good. That’s what matters.

[@meetkrissyj1327]

I wouldn’t say house poor. $250k for a house she’s probably only paying $1600/$1700 for mortgage including tax, ins, etc. with $95k in income that’s not bad. Now that car.... Even with a good rate that’s 700-800/month. She needs to get rid of the car and pay down that credit card & student loan debt.

[@jayc7612]

@@meetkrissyj1327 yeah but this is more of a show off show so she probably won’t do that :(

[@Dee-oq5ms]

@@meetkrissyj1327 I was wondering where everyone kept getting house poor from, she is def not. The car is stupid tho.

[@alonzoquinones8976]

@@meetkrissyj1327 no, she's paying over $2248 a month for the house and if I'm calculation it right around $1500 for student loan, car and credit card payments combined...😬

[@eileenreyes6868]

A 1.8% downpayment? I thought the minimum downpayment is 3%. Something doesn’t sound right...

[@DewTime]

That’s what I thought too. Didn’t know this was even possible. Sounds like a terrible idea

[@katrinaa980]

I was impressed... and then I saw the debt 👀

[@intrepidfox37]

I see a lot of comments criticizing her choice of car, home price, etc. A few people are very fanatical about stretching every dollar, despite being high earners, instead of using it to enjoy life. Balance is what we all need, financially. This young lady may appear to be keeping up with the Joneses, but don't sleep on the 1st Generation African Millennials. She most likely is college educated and her lifetime earning potential far greater than her current 95k. Yes, she is indebted to a vehicle and student loans but with a little diligence, those things can be paid off in a reasonable time frame if she chooses to do so. She's only 30 years old! She lives in a new home that she can enjoy mostly stress free, not running out to Home Depot every weekend fixing something. Not everyone that enjoys their salary is financially irresponsible or illiterate. Take a chill pill, y'all 😂. CNBC is just us showing how different millennials use their money and frankly, I like it whether or not I agree with the choices.

[@xtrey19x]

One of the few balance and objective perspectives in this comment section. I feel like she’s doing just fine because hopefully everything goes well and that $95k salary will pile up to $1 million in salary over the next decade. Most commenters seem to think if you’re not swimming in cash now or within a year then you’re failing. I just find that here and now thinking to be so short sighted.

[@dd6228]

Congratulations on the new home, you inspire me! 🙏🏾😍🎉🎊🎈🎁

[@SirD1]

Truth: She is one job loss in losing it all! $47K in car loan??? And it's an Acura! My goodness!

[@SirD1]

@MrHoppers002 she's one job loss from losing it all. She doesn't even have sufficient savings.

[@tylerjenkins7977]

Lots of good plans for first time home buyers. No need to throw away money at rent! Congrats!

[@Ed-xv4sy]

Yes if you're making 90k in georgia, why would you rent?

[@tylerjenkins7977]

@@Ed-xv4sy definitely a great salary for Georgia!

[@tkokflux6322]

@@tylerjenkins7977 yeah wish there were salaries like that in my country i am programmer and my salary is like 50k and thats in my country is considered to be extremely good although considering that i am 19 i am not really doing that bad

[@tylerjenkins7977]

@@tkokflux6322 a 50k salary at 19 is incredible! Begin investing now and you will be beyond wealthy by the time you are ready to retire. Congrats!

[@MrKijana23]

Girl kick that debt to the curb! You're doing so well!! Also love the subtle Christine Caine shout out!!

[@Getitgirlllll4717]

Yassss Get it girrrrrl! Im soooo proud of you!! Such an inspiration!!!

[@brittanyb5942]

Her home is nicely decorated 😍😍

[@MohanadKhuraishi]

I liked the video, and congratulations to her on whats she's doing after coming from Ghana! But i struggle to understand the feeling of accomplishment when you only just paid less than 2% of the house price... "after all the hard work" the hard work is yet to come over the next 30 years :O

[@DewTime]

Yeah lol. She basically only had to pay the closing costs, not even a real downpayment. If she needed to immediately sell the home she wouldn't be able to pay off the mortgage since realtor fees are 6% and her equity is only 1.8%

[@kaydozier566]

I am so happy for you!! You go girl!!

[@virginiawilliams648]

Im going to bypass the topics everyone else is commenting on such as her earnings, car note, furniture or the house down-payment. I'm going to talk about $250k for a townhouse!!!! If that's just your style then definitely go for it but for that amount of money, you can go just a tad bit further south, and still be considered within the "metro Atlanta area" and purchase an even larger single family home with some land!

[@sc5195]

“Good schools.” She does not have any kids and is not married, why does that matter?

[@auntiesister]

I’m sure she’s thinking of the future. Living in something you own, you tend to stay for years vs living in an apartment and moving often.

[@AM-oi5sw]

Resale value

[@sc5195]

@@AM-oi5sw thank you! I didn’t even think of that.

[@Hustle601]

Her debt will be paid off in no time living in Georgia on $95,000 a year...she will be just fine.

[@vizx8574]

11 years aint no time

[@exposingracism2216]

youre assuming she never losses her job, gets hurt or gets sick. Life happens. I hope she's paying for generous insurance coverage.

[@Hustle601]

@@exposingracism2216 right because I speak and wish positivity over my sisters and brothers. Have a blessed day

[@vision1707]

@@exposingracism2216 i thought the same. i wish her the best but that was not a smart move.

[@solaninsal]

Watching this from a townhome in Georgia 😳

[@tamararene5913]

And me in Orlando FL

[@ajcab819]

I’m from Atlanta and I’m curious about what part of Lawrenceville she’s in because it definitely not 30 min from Atlanta on a regular work day. Maybe on a Sunday morning lol

[@xXTearsXHeartXx]

Same. I was like girl you lying. That's how I knew she wasn't originally from here and just moved.

[@ChristinaEdwardsWeather]

30 min as the crow flies... And not as we crawl through I-85 traffic 👀🤣

[@courtneys1543]

It is 30 minutes if you drive fast and leave early lol

[@blanket1309]

It tells you that these videos are semi fake and made up to drive eyeballs

[@antjohnson3724]

On the weekends its definitely 30 minutes. Lol. M-F is a parking lot no matter what side of town you stay on. Nobody's trying to get shot at the Malls in Atlanta anyway.

[@gavine97]

Graham and Dave are gonna have a field day with this one. The bank owns the house! She owns maybe 3% now

[@amigam3280]

The bank doesnt just own the house, they own HER. $77k in debt and $250k on a mortgage with 1.8% down. I'm betting that most of her monthly income goes straight to servicing her debts and mortgage

[@ace50105010]

Debt is Slavery of the Free

[@CarlosMercadoINIGTDY]

@@ace50105010 Yeap... she signed up for it freely...

[@SatvikReddy123]

Yikes that car loan is way too much. Can't wait for Graham to freak out over it😂

[@dh9431]

I love these stories. They are so inspirational ❤