THE housing market can be an overwhelming topic of conversation right now and even those earning a salary are having trouble paying their bills.

A pharmacist, who lives in St Louis, feels the declining economy has made it impossible to start saving for a home – despite making $100,000 a year.

The 26-year-old revealed that he takes home around $5,600 a month and pays $850 a month in rent which he splits with his girlfriend, Marketwatch reported.

And, he has around $25,000 in his savings account that's reserved for emergencies.

The pharmacist was left with $148,000 worth of debt in student loans and has been paying monthly installments of $4,000.

But, he wants to be a home for himself and is considering dropping his student loan payment plan to $2,000 a month.

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The pharmacist asked: “Should I keep renting instead of worrying about savings for a home at this point and just keep putting $4,000 [a] month in loans until they’re gone?”

He said: “Most of my friends and family say ‘I’m rich’ because I make six figures, but I do not feel that way given all the debt and no money saved for a home.”

Joe Favorito, of Landmark Wealth Management, suggested he should “base his savings rate towards a home”.

He said: “While renting is something that might allow you to live with a positive cash flow, if your goal is to be married and raise a family, a home is a much more practical solution.”

And, Eric Figueroa, of Hesperian Wealth, said: “What’s more, with such a positive cash flow, it might be worth considering a refinance of your student loans.”

Meanwhile, more than 90 per cent of working Americans have a side hustle that they use to earn extra money, a study has revealed.

The survey, conducted by Insuranks, found that 50 per cent of those who reported having side hustles were women, and 49 per cent were men.

Over 1,000 part-time and full-time employees were asked a series of questions including types of side hustles, how many they have, and the reasons behind wanting extra cash.

Men were reported to bring in an extra $596 a month while women were said to make $378.

Of those surveyed, 38 per cent work one side job, while 20 per cent said they work three or more in a bid to make ends meet.

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