How much money do people need leftover after paying rent?
- real estate guyLv 79 months ago
You are asking the wrong question. How much of my income should I spend on rent?
It depends on your income. However, I HIGHLY recommend never spending more then 25% MAX of your gross monthly income on rent. Gross income is BEFORE taxes or deductions.
Without knowing your actual income, the area where you live and your monthly debt, it's hard to answer.
You should also be saving at LEAST 10% of your gross income each month.
- SlabberdaskenLv 79 months ago
2/3rds of your take home pay.
- Anonymous9 months ago
If you live in Canada, in a city, you're going to be looking at at least $1200 (not including utilities) for a regular basic apartment. If you want a dishwasher or washer & dryer, expect to pay $1500+ (also not including utilities). I don't know what dream planet the people who say that rent should cost 1/3 of your income are living on. The reality is you're going to have to spend closer to 80% of your income on housing.Source(s): Life.
- SlumlordLv 79 months ago
Rule of thumb is to try to limit rent to 1/3rd of the gross, not net, pay (ie the total pay before taxes and other stuff is taken out). Going thru that formula backwards, you should have about 50-55% of your net pay (or 66.6% of your gross pay) left over after you pay your net.
- How do you think about the answers? You can sign in to vote the answer.
- StephenWeinsteinLv 79 months ago
Enough to pay for food, health insurance, etc.
- SimplytheFACTSLv 79 months ago
depends on individual expenses...as little as 500, as much as much as a million.
food/necessities like toilet paper if you are frugal 300
gas/electric if you conserve 50
cheap phone 50
walking everywhere 10/month toward shoes.
laundry/thrift store clothing allowance
- Wayne ZLv 79 months ago
The general rule is that housing should be, at the maximum, 1/3rd of your gross monthly income.
So, if your rent is $1000 per month, you should make, at least, $3000 per month before taxes.
- Jake No ChatLv 79 months ago
enough for food, utilities, taxes, recurring bills, insurance, vehicle gas/maintenance/payments, insurance, and savings. each of those are important.
- NeverLv 79 months ago
Rent? Have not had that in 15+ years. No car payment either.
Paying cash has its advantages.
Your question is rather mindless.
- 9 months ago
Enough to cover their other bills