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Old 07-18-2013, 09:05 AM
 
59 posts, read 90,906 times
Reputation: 86

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Don't spend 30% of $68K gross on housing, regardless of what the Internet says (yup I realize the irony of this post). I make a lot less than $68K and spend 20-some% of gross on housing. Pretty much broke.
Also, don't take financial advice from broke people.
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Old 07-18-2013, 09:33 AM
 
9,879 posts, read 14,128,518 times
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Quote:
Originally Posted by bugleb View Post
Sorry, but that number is extremely low. There's no reason why somebody making $68k has to cap their "living expenses" at barely over $1k. Where are you getting this "rule of thumb" from? Nearly every source I've read online uses 30% of your GROSS income as a good benchmark, especially in high COL areas like DC.
Life Lessons: Smart Tips for Determining the Rent You Can Really Afford Renters Solutions | Apartment Therapy
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Old 07-18-2013, 10:16 AM
 
320 posts, read 480,710 times
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Have you considered Herndon, Sterling, or Reston? These areas offer housing in your budget and are better situated for an okay commute to Tyson's Corner.
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Old 07-18-2013, 03:54 PM
 
19 posts, read 50,764 times
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I've started looking into Reston. I need to look more into Herndon and Sterling. I was hoping there was a town that would be "going against" traffic toward Tyson's Corner. But it's sounding like everyone is going everywhere during rush hour.
With my first job in Fort Worth, I was actually spending 40% of my take home salary on rent and still managing to save some money. Though it would be tight if there was a car repair, vet bills, etc. and I basically had no life. With my new job in Fort Worth, I'm only spend 25% of my take home pay for the same apartment. Life is so much easier with a higher salary. lol.
So with that said, maybe spending 30% on rent won't be so bad and I would still have some money left over for savings.
Can anyone give an idea of what car insurance costs are? I have a clean driving record and pay about $350 for 6 months. Trying to get an idea of how everything compares and see if everything will be increasing significantly.
What is a ball park figure for a gallon of milk, carton of eggs, chicken breasts?
Thanks!
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Old 07-18-2013, 04:07 PM
 
19 posts, read 50,764 times
Reputation: 11
specgr- Thank you for the article.
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