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Old 11-28-2007, 12:39 PM
 
70 posts, read 204,897 times
Reputation: 25
Default 39K in hand after taxes and a few mandatory expenses.. what's the most I should pay for rent?

I'm just wondering what you think?

58.5K gross. 39K when the dust settles. With this amount there is only rent, utilities, transportation, etc that I'll have to pay.

What do you think?

I'll be in the San Jose area.
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Old 11-28-2007, 01:43 PM
 
581 posts, read 997,378 times
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Very tough especially in the Bay area with that kind of salary. You should definitely look for a roommate/s. Get a room or something in a house and go from there.

Since rent will be the greatest expense, try to minimize the output there and see how it goes.

The advantage of sharing an apartment is that you can share the utilities, cable bills etc., food I am not sure since food and transportation are the next two high bleeding items.
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Old 11-28-2007, 01:50 PM
 
128 posts, read 527,960 times
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If you make that much after all expenses, then what you left is disposable income. That's more than enough. You can afford up to 2,000 dollars /mo. in rent. That will put you in nearly all of the Bay's best neighborhoods in a single br./studio.
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Old 11-28-2007, 02:43 PM
 
Location: San Francisco Bay Area
1,483 posts, read 3,410,733 times
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Your monthly income will be $3,250 before expenses. I wouldn't go higher than $1,600-1,700/mo.
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Old 11-28-2007, 06:31 PM
 
Location: Las Flores, Orange County, CA
26,362 posts, read 53,431,728 times
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Quote:
Originally Posted by greatfire View Post
58.5K gross. 39K when the dust settles. With this amount there is only rent, utilities, transportation, etc that I'll have to pay.
Does this (the etc) include retirement savings, health insurance, & auto insurance?
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Old 11-28-2007, 06:59 PM
 
Location: Zurich, Switzerland
24,837 posts, read 31,240,971 times
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Quote:
Originally Posted by ImRandy View Post
Your monthly income will be $3,250 before expenses. I wouldn't go higher than $1,600-1,700/mo.
That's still too high imHo. Maybe cause Id never spend that high a percentage of my income on housing, but if all I had was $3250 a month, Id look for an in-law unit or a back house type place and spend no more than $800-even if its in the ghetto.

Even then, I think Id get a part time job at Fed Ex or something to help me save up as much as possible...for a rainy day.
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Old 11-28-2007, 08:27 PM
 
Location: San Francisco Bay Area
1,483 posts, read 3,410,733 times
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It's a high percentage to be sure but personally, I value where I live pretty highly. I'd save a smaller amount to live in a better place. But if one could find an $800 place that was nice, that would be the way to go for sure.
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Old 11-28-2007, 09:13 PM
 
70 posts, read 204,897 times
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Quote:
Originally Posted by Charles View Post
Does this (the etc) include retirement savings, health insurance, & auto insurance?
The salary that I have will go towards everything except loans that I have to repay. So, everything a person would probably be responsible for.
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Old 11-28-2007, 09:34 PM
 
Location: San Francisco Bay Area
1,483 posts, read 3,410,733 times
Reputation: 734
Just read your student loan thread.... yeah, I'd look for even cheaper than I suggested so you can pay more and get a little ahead on the loan as a buffer. The last thing you want to get into is a situation where you default on a student loan.
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Old 11-29-2007, 08:26 AM
 
70 posts, read 204,897 times
Reputation: 25
Put it this way, should I spend 1425 - 1540 on rent? If no, then how much? 1275?
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