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How Much Should I Spend On Rent? Reward $2
Created by sunrise, 573 days ago, 938 views
How Much of Your Income Should You Spend on Housing?
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1 Zuikoz573 days ago Rule of thumb: Spend a fixed percentage of your income on housing. The general recommendation is to spend about 30% of your gross monthly income (before taxes) on rent. Therefore, if you'll be making $4,000 per month, then your rent should be $4,000 x 0.3, or about $1,200.
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2 yogisugandi25573 days ago This calculator shows rentals that fit your budget. Savings, debt and other expenses could impact the amount you want to spend on rent each month. Input your net (after tax) income and the calculator will display rentals up to 40% of your estimated gross income. Property managers typically use gross income to qualify applicants, so the tool assumes your net income is taxed at 25%. Actual tax rates vary.
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3 Aravi573 days ago Hi @sunrise
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4 sanbooly573 days ago in a short word,
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5 Walphai573 days ago Try to get the cheapest house that is also as close to your workplace/school as possible. Avoid renting a place that is far from work because even if you have a car the time you spend on the commute everyday is wasted and makes you lose money in the long run.
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6 nuklin573 days ago There's no specific percentage for accommodation, in fact my accommodation is just 10% of my gross. The thing is: you need to find a way to maximize profit and savings as well. In doing this, you need to plan your accommodation along side other factors as utilities, transport, feeding, dependants, wardrop and miscellaneous. The key is to do a cost benefit analysis and the rules are:
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7 cindyp572 days ago You just need to add up your monthly bills, Doctor, Insurances, Etc. Then cost of your food, clothing, toiletries. Then you'll have your answer, what's left after subtracting all costs, there's your rent! Good luck unfortunately rental's have become costly, they need to lower the cost of rental's cause the average person can find it to costly.
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8 wim572 days ago Make sure that you are comfortable with your monthly rent payment. I suggests that you not spend more than a quarter of your monthly income on rent. For example, if you earn $4,000 a month, you should not spend more than $1,000 a month on your rent. When creating your budget don’t forget to add in utilities such as electric, water, television, and internet. You don’t want to suffer through the cold of winter or be bored with no TV or internet.
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9 maren569 days ago 30% of your income.
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10 Alirio569 days ago One-quarter of your income. you should have room for food, clothes, services (wifi, tv, electricity, water) transportation, vacations, savings. Do not overthink. Don't spend what you don't have.
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11 koroleva568 days ago I read on an article that in France it's about 1/3 of the income an shouldn't be more than that. It's seem fair enough but still, it depends on your income, your health and your family size. If you are living alone you don't need to spend much on rent.
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12 vickyph84566 days ago @sunrise
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13 aldem53563 days ago Не более 25% от годового дохода
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14 yemioke563 days ago it all depends on your income. your income will dictate the amount should spend on rent
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15 TonyW50555 days ago Here's what you do. Sit down and write out your monthly earnings after taxes. Then write down the bills you have already that are monthly. Figure out how much in groceries you need a month. Add the expenditures up and deduct from your earnings. That is your available income. Rule of thumb (I used to be a financial advisor) is to put away at least 10% into an emergency savings account. Deduct unnecessary expenditures from life, like Starbucks and things like that. When it's all said and done, what you have left is what you have for rent and utilities. Along the way, think of the future, and begin to invest in a Mutual Fund to save for your retirement. It's highly unlikely Social Security will be there in 10 years.
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