Another guideline stipulates that you can use up to 50 percent of your take-home pay for housing, utilities, groceries, transportation and other expenses that typically cost the same every month. If you make $3,000 per month before taxes, your rent should be no higher than $900. Apartment budgetĪ general rule of thumb is that you should spend no more than 30 percent of your total gross income on rent. Think about trimming the list of “wants,” at least until you have settled into your new apartment. utility bills, car insurance, medicines) is a need, while other purchases that may be skipped (e.g. This is also a good time to review what expenses fall under “needs,” and which ones can be termed as “wants.” Any payment or purchase that absolutely must be made (e.g. The important thing here is to keep track of all spending, so you have a true idea of actual monthly expenses – cash, check or credit. If you use cash to make payments, be sure to log every penny you spend in a notebook or on your phone. They do all of the hard work for you and it’s completely free. Make sure every expense is categorized clearly. credit card, phone, groceries, car insurance. A monthly bank statement or your online bank account will give you a clear idea of all your spending.Ĭreate categories for the expenses, e.g. Next, take a look at your monthly expenses. In other words, what is your take-home pay every month? Do you have alternate sources of income? Be sure to include bonuses, dividends, interest and any other income you have. Setting an apartment budget is not a difficult task as long as you are able to clearly account for your monthly income and expenditure. location, amenities, commute options, monthly rent, etc.īefore signing an apartment lease, it is wise to establish a budget, so you aren’t caught by surprise when moving day approaches. When you’re looking for a new apartment, there are many things to consider, e.g.
0 kommentar(er)
