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Imagine a person who makes around $93,000 a year. They have no children or elderly parents to take care of, no student loans or other major debt to pay off, and besides rent their only major expense is a $450 car payment. If this person told you they couldn't afford to pay $1400 a month in rent, would you believe them? Let's assume they're maxing out their 401k and making all the other pre-tax subtractions people generally make. Does it still seem plausible given these numbers that this person couldn't afford $1400 in rent?
I certainly wouldn't want a rent that high making in the 90s. My wife and I make more than double that and our mortgage piti was only 1700 before we refied
07-08-2014, 07:46 PM
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n/a posts
1400 on 93k is doable pretty easily.
Cheaper would be nicer sure, but it's not at all outrageous in many cities.
One thing that is often overlooked is that some people believe it the church tithe.. that's 10% or more right off the top, these dedicated feel strongly about it
Couldn't afford and don't want to pay 1400 could be the same thing to them
This is me. I often find myself saying that we cannot afford it or it doesn't fit in the budget on expenses (or wants) that I do not find have enough justification.
I don't see how anyone "really" knows the financial situation of an individual to really make a determination of its credible or not.... its really no one's business.
Imagine a person who makes around $93,000 a year. They have no children or elderly parents to take care of, no student loans or other major debt to pay off, and besides rent their only major expense is a $450 car payment. If this person told you they couldn't afford to pay $1400 a month in rent, would you believe them? Let's assume they're maxing out their 401k and making all the other pre-tax subtractions people generally make. Does it still seem plausible given these numbers that this person couldn't afford $1400 in rent?
Simple answer is "can't afford" can mean many things, but most often is "After assigning my funds to other items which I make a higher priority, I don't have enough money left for that"
For example, many people claim they "can't save" any money, because they go out to eat often/buy new cars every 3 years/travel often/purchase expensive clothes/whatever, while other people who earn the same amount may claim they can't do some or all of those things because they're maxing out their 401K and THAT takes priority. Or any combination of items.
There are people that own expensive homes and drive cheap cars. There are people who rent cheap apartments and lease expensive cars. There are people who travel a lot but take the bus to work. Or whatever.
So, without knowing a lot more about this person than they would want to share with the outside world, there's no way to really know what's going on, and unless they're trying to back out of paying rent that they owe you, it really doesn't matter to anyone.
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