I'm trying to increase my budget to improve my quality of life but I have a block, especially for renting.
I'm making ~200k base salary (+200k in paper stock).
After taxes, hsa and 401k I have roughly 9k a month and right now I'm spending (rent + living + fun and trips) around 4k/mo in hcol, 2300 of rent.
I decided that I could budget 7k a month, since ipo is pretty sure and even if not who cares. I can go back to big tech and get easily 450k (cash + public stock) if needed.
I don't mind spending money in experiences and quality clothes, but I have a block regarding rent. I think I could afford 5k in rent but every time I try to look at places I have a psychological block. If I was giving money for something worth it I would be glad to spend them, but I can't avoid thinking that renting in a hcol is a damned scam, landlord earning crazy amount of money adding no value and just draining wealth generated by others thanks to a market/urban plan inefficiency.
I can't push myself to "donate" those amount of money to already rich people that don't provide anything valuable to society other than lobbying and limiting housing availability.
Considering i want to live in a hcol city (sf/NYC)
1. Is my 5k rent budget realistic or I'm feeling this block just because I can't actually afford it?
2. If the block is just psychological, how can or should I try to overcome it? Again, it's not about money, I'll gladly pay more to someone of something I'd consider useful (rent from a family who actually needs the money or a company that does good with profits). I just can't push myself to give free money to rich arrogant morons
3. Anyone having similar issues in ethical spending?
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comments
On the other hand, if you're serious about a $5k/mo budget, you may as well try to buy a spot after IPO. The massive down payment means you can get a lot of place at $5k/mo.
I get the current market is crazy still, but what goes up much come down right? So why not stick it out at the cheaper apt, save $$ & then when market crashes swoop in and get a nice place (assuming you plan on staying in SF/NYC area long enough to make it the worthwhile)