How much of your income is going toward your rent or mortgage?

Are you spending too much of your income on your home? Many Haitian-Americans are and it's a silent trap. When was the last time you sat down and calculated how much of your monthly income goes toward your rent or mortgage?

Take a moment and think about it.

I ask because I recently came across a financial recommendation that says no more than 30 to 40 percent of your income should go toward housing. But I know many Haitian-American families in the U.S. who are spending 70 to 80 percent of what they earn--just to keep a roof over their heads.

Not to own the house. Not to build wealth. Just to pay rent or a mortgage, month after month.

And I get it. We come from nothing, and when we finally get a chance to live in a decent home, especially in a "nice area," we feel like we made it. That home becomes our trophy. We work hard. We want something to show for it. But at what cost?

Let's be honest: a lot of people in our community are not just broke--they're in debt. Not because they're lazy. Not because they're wasting money. But because the single biggest expense in their life is the house they live in. And many are quietly drowning under that weight.

The large majority of Haitians living in the United States live in some of the most expensive states: New York, New Jersey, Massachussets.

Florida homes used to be cheap but not anymore. The same house that I purchased for $169,000 in Miramrar, FL, is now over $450,000. Real Estate Taxes have gone way up, Homeowners insurance is no joke.

A friend of mine who purchased a condo in a 55 plus community in the Palm Beach area of Florida told me when he is done paying for the condo he's going to need between $1,200 and $1,700 just to live in it. His homeowners association fees about to sky rocket.

It's time we have that uncomfortable conversation: Is your home costing you your financial freedom?

My fellow Haitian-Americans, what I'm about to tell there's no joke:

We need to fix our country because the time will come when you need to retire, if you're not already retired, and you will not be able to afford to live in this country you love so much unless you decide to push shopping carts at Walmart until you die.

The old lady you see the cash register when you go buy your groceries, believe me, she's not there because she's bored at home.

Nope!

She is trying to add a few dollars and cents to her social security check.

If 70 percent of your paycheck is going to rent or a mortgage, what happens when the car breaks down? What if you lose your job? What if someone gets sick back home in Haiti and needs help?

We already carry extra weight--sending money back to Haiti, helping family, juggling two households. So we can't afford to get this wrong.

Your home should be a blessing, not a burden. You shouldn't be house-poor.

So here's the challenge: Run the numbers. Look at your monthly take-home pay, and calculate what percentage is going to your home. If it's more than 40%, it's time to rethink your setup.

Let's break this cycle. Let's stop working just to pay bills and start building something real.

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