Would you say my new apartment is lenient and money saving? PDF Print E-mail
ANSWERED QUESTIONS - ANSWERED QUESTIONS
Wednesday, 09 September 2009 21:14

Q. I will be paying $400 in rent, and I will only be paying the electric bill plus $15 of cable. Would you say my new apartment is lenient and money saving?

A. A lot depends on where you live, and how much you make. A $400 apartment in Manhattan would be a dream rather than a reality.

Generally, you can be spending up to 30% of your salary on housing, whether it is rent or mortgage. So if your paycheck is, let's say $3,000 /month, you could afford up to $1,000 /month apartment without hurting your finances. But given my overall experience, yes, your price must be a pretty good deal indeed.

 

If you are so much interested in finances, run yours through our FREE FINANCIAL ANALYZER.

It doesn't ask any personal ID information (no name, no social, no address or phone). You'll be amazed how much insight you get into your own finances.

Good luck!

Moni.



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