BriarRose Posted May 22, 2010 Share Posted May 22, 2010 This is only for people with no other income source other than what they make at their jobs. I would like to know the percentage, not the amount, which will of course be relative (obviously, someone making $50K a year will have more to spend on rent or mortgage than someone making $20K a year). Seems a huge portion of my income is for rent, and I get discounted rent. If I move, it will probably double. Link to comment Share on other sites More sharing options...
teabee Posted May 22, 2010 Share Posted May 22, 2010 Maybe I shouldn't be answering because I don't yet live on my own, but I've been looking and planning for awhile so I can accurately estimate that approximately 25% of my monthly income would go towards rent. Link to comment Share on other sites More sharing options...
Etoile Posted May 22, 2010 Share Posted May 22, 2010 In my case just under 50% of my monthly pay goes towards my rent. But my rent includes all bills except food. Link to comment Share on other sites More sharing options...
BriarRose Posted May 22, 2010 Author Share Posted May 22, 2010 Maybe I shouldn't be answering because I don't yet live on my own, but I've been looking and planning for awhile so I can accurately estimate that approximately 25% of my monthly income would go towards rent. Mine is 29%, but that includes utilities (unless I move). Link to comment Share on other sites More sharing options...
Celestialagape54 Posted May 22, 2010 Share Posted May 22, 2010 30%.................... Link to comment Share on other sites More sharing options...
BriarRose Posted May 22, 2010 Author Share Posted May 22, 2010 Okay, say I guess I'm in the ball park. It just seemed so high.... Link to comment Share on other sites More sharing options...
Atticus90 Posted May 22, 2010 Share Posted May 22, 2010 about 65 - 70 %. thats comin from a 40k a year rents expensive Link to comment Share on other sites More sharing options...
theproman23 Posted May 22, 2010 Share Posted May 22, 2010 Seeing that I live in Buffalo, NY, have a room mate and make a decent buck. Roughly about an 1/8 so about 12.5% of my pay goes to rent. Can I ask why you posted this question? Link to comment Share on other sites More sharing options...
stormie Posted May 22, 2010 Share Posted May 22, 2010 for me it's up to about 49%. but then again, I live alone in Manhattan Link to comment Share on other sites More sharing options...
dragon lady Posted May 22, 2010 Share Posted May 22, 2010 About 30% and that includes all utilities except water. My boyfriend pays for water though. Link to comment Share on other sites More sharing options...
Lovelace Posted May 22, 2010 Share Posted May 22, 2010 33% of my monthly income. And I live in Section somethingwhatever housing. Link to comment Share on other sites More sharing options...
Hurting85 Posted May 22, 2010 Share Posted May 22, 2010 23% and none of the utilities are covered. Link to comment Share on other sites More sharing options...
FathomFear Posted May 22, 2010 Share Posted May 22, 2010 Rent is approximately ~15% of my net income at the moment. However, in tougher times it was upwards of 50%. But I make much more money than I did then. Link to comment Share on other sites More sharing options...
_Asti_ Posted May 22, 2010 Share Posted May 22, 2010 When I created a budget for moving out, I followed Gail Vaz-Oxlade [host of the show Til Debt Do Us Part...] She has a great website that creates budgets and all that based on certain percentages...she calculates that no more than 35% of your net goes towards rent. About 30% of my net goes towards rent. But thats about all my expenses, as my fiance covers the remaining of the rent and all remaining bills [which works out pretty equal in what we both end up paying]. Link to comment Share on other sites More sharing options...
Brittney2008 Posted May 23, 2010 Share Posted May 23, 2010 30percent. Link to comment Share on other sites More sharing options...
Alezia Posted May 23, 2010 Share Posted May 23, 2010 Ideally no more than 33%. Of course, if your other expenses are less, then it's fine to go a bit over. Link to comment Share on other sites More sharing options...
BriarRose Posted May 23, 2010 Author Share Posted May 23, 2010 I'll never be able to move. I am only being charged about 1/2 of what I would be paying if I wasn't getting a "deal" on rent. And even that is 29% of my net pay. I'm getting kind of depressed. Link to comment Share on other sites More sharing options...
sophie274 Posted May 23, 2010 Share Posted May 23, 2010 I'll never be able to move. I am only being charged about 1/2 of what I would be paying if I wasn't getting a "deal" on rent. And even that is 29% of my net pay. I'm getting kind of depressed. Is there any way for you to boost your earnings? It might be a bit late in life to go to college, but there are also short courses you can take to earn extra qualifications and boost your earning potential. I don't know what kind of field you are in, but it would probably be worth it for you to do some research to see if you can work your way towards a promotion or more skilled work. You might also see about getting a second job to save money for a down payment on a house, if that's what your goal is. It probably wouldn't be fun, but if you could earn an extra $200 dollars a week and save them, that would be 10,000 dollars in a year's time. Link to comment Share on other sites More sharing options...
BriarRose Posted May 23, 2010 Author Share Posted May 23, 2010 Is there any way for you to boost your earnings? It might be a bit late in life to go to college, but there are also short courses you can take to earn extra qualifications and boost your earning potential. I don't know what kind of field you are in, but it would probably be worth it for you to do some research to see if you can work your way towards a promotion or more skilled work. You might also see about getting a second job to save money for a down payment on a house, if that's what your goal is. It probably wouldn't be fun, but if you could earn an extra $200 dollars a week and save them, that would be 10,000 dollars in a year's time. No, my goal isn't a house - I will never afford that (I make around 24K and am single), but I thought of taking classes of some sort, but only if it would mean more money than the job I have now, and I am not sure of what short-term evening program could do that (I am a bookkeeper right now). Link to comment Share on other sites More sharing options...
Honey Pumpkin Posted May 23, 2010 Share Posted May 23, 2010 About 28% which includes all utilites and council tax. Link to comment Share on other sites More sharing options...
lavenderdove Posted May 23, 2010 Share Posted May 23, 2010 MissKitty, why not get into a 100% online program? You can get fully accredited degrees now totally online, where you do the work in your spare time and don't have to attend any classroom training. If you got an accounting degree, you could make a lot more money over being a bookkeeper. For example, this school is 100% online and offers an Associates in Accounting, or a B.A. if you want to go further: link removed Plenty of people change careers (or go back to school) in mid-life these days, so no reason not to look into it. Link to comment Share on other sites More sharing options...
teabee Posted May 23, 2010 Share Posted May 23, 2010 There are high paying jobs out there for which you need very little qualifications. I could work at the mental hospital with just a high school diploma and make about $20 an hour. There are several night jobs I can think of that pay upwards of $17 an hour. Jobs with inconvenient hours pay very well. You could even go to Korea for a year or so and teach kids english. Several people I know have really built up their savings accounts that way. Link to comment Share on other sites More sharing options...
BriarRose Posted May 23, 2010 Author Share Posted May 23, 2010 MissKitty, why not get into a 100% online program? You can get fully accredited degrees now totally online, where you do the work in your spare time and don't have to attend any classroom training. If you got an accounting degree, you could make a lot more money over being a bookkeeper. For example, this school is 100% online and offers an Associates in Accounting, or a B.A. if you want to go further: link removed Plenty of people change careers (or go back to school) in mid-life these days, so no reason not to look into it. I thought of on-line classes, just wasn't sure if employers took them seriously, but it must be better than no degree... Link to comment Share on other sites More sharing options...
BriarRose Posted May 23, 2010 Author Share Posted May 23, 2010 There are high paying jobs out there for which you need very little qualifications. I could work at the mental hospital with just a high school diploma and make about $20 an hour. There are several night jobs I can think of that pay upwards of $17 an hour. Jobs with inconvenient hours pay very well. You could even go to Korea for a year or so and teach kids english. Several people I know have really built up their savings accounts that way. What are these "night jobs" that pay $17.00 an hour (with "little qualification")? Hours are not an issue for me - I'm single and have no kids, I could work any hours. Link to comment Share on other sites More sharing options...
teabee Posted May 23, 2010 Share Posted May 23, 2010 I sent you a pm. Oh and I titled it "night jobs" but most of them weren't night jobs, come to think of it. Link to comment Share on other sites More sharing options...
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