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daisy | If I make $2200/month, how much should i be spending on rent and utilities? |
I was thinking around $700 for everything combined? Too much?
I have no debt, but a $200 car payment |
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Volks
 |
As a general rule, your rent/mortgage should cost no more than about 30% of your income.
So $700 for rent is fine, unless you have some other financial obligations you didn't mention (like child support payments, college loans, etc).
$700 is actually good if it includes everything like utilities and water. The 30% rule usually applies to the payment for the home itself.
If you are financially responsible, don't require a lot of "play money", and don't have any other major financial obligations, you should have no problem handling a $700 home payment. |
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moneycrisis
 |
Good rule is 30% for housing and 3% for utilities so total housing 735. |
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estielmo
|
maybe 800 |
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Ed Atun
|
In high-cost areas you would pay $1,100. Seems very high but you have little choice in L.A. or San Diego. You won't find much for $700 total. |
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BLAQUE
|
0-700 should be fine for rent and utilities well maybe like 800. 200 for the car and dont forget about insurance and groceries and other things |
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Christopher B
 |
Really, you should be at no more than $660. And your total living expenses (everything you need to survive, and make it to and from work) should be no more than $1430. (This comes from financial experts who recommend that our rent/mortgage be no more then 30% of our income, and our total living expenses be no more then 65% of our income).
Find a way to make it work - room mate, rent a room, carpool, public transportation, etc.
Make sure you are paying yourself FIRST. Put at least 15% in your savings account each month (for EMERGENCIES only). |
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Taliah E
 |
I make the same thing and my rent is 830.00 utilizes included. Try 750.00 NO More or you'll be in debt like me, and I have four children |
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Real Estate Guy
 |
If you are earning 2,200 gross income, I wouldn't be spending more then 25% (550) of this figure on rent and utilities MAX. If possible, I would keep it at the 20% mark (440).
The problem with lower income is that your fixed expenses are the same as if you earned more.
You should be saving at least 10% of your income each month. |
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Josh R
 |
Hey Daisy, all houses, aprts are different depends on the location, city that it is based up on |
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