TC = $156k
yoe = 2
Single, no kids
Whats the most I should spend on rent? Plz help me math geniuses of the world.
Looking for places in this insanely expensive city. NYC. 😭
TC = $156k
- Personally I wouldn't spend more than 25% after tax. Yes, it will feel like you're slumming it compared to friends but you'll also be able to save way more and retire way earlier
- 1500 lolzzzz maybe 20 years ago. I wanna save too. I’ll aim for no more than 2300 total
- If you're willing to hike from West to East to get to FB, living in NJ cuts your tax bill. You can use the extra 1k/month to get a nice luxury studio in NJ.
- Depends on how you want to live and your savings goals. Since you have no debt you're in a good position. Still, I'd say no more than 3500 but probably closer to 2.8-3k would be ideal
- New / Design IUvk25moreStandard financial guidelines have always said no more than 28-30% of your income on rent. Reality of what you can actually get these days in expensive cities is 40-50% - if you’re *really* lucky. Many are shelling out 80-90%.
- Instead of looking for guidelines, why don't you look at your options, think about the money delta, and imagine whether you'd rather have the housing upgrade or whatever else you could normally buy with the money?
I choose to cheap out on housing because it's easily more expensive than a number of stupid large ticket purchases I would never make.
FYI, 1700 in Hoboken, at my TC equivalent to about 900 in Manhattan after tax savings. Max I was willing to stretch was 2300, but the place I found had such a good location I decided i was okay with the s*** building.Sep 4 0