How Much To Spend on RENT With $50,000 Salary

How much should I be budgeting for rent |
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👁 About this video : HOW TO BUDGET FOR RENT BASED ON YOUR SALARY
In this video Tomy talks about how much you should be budgeting on rent based on your current income. He’ll discuss some personal finance principles that will help you be more strategic when it comes to your monthly expenses and planning for the future
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👋 About this channel : Hey there! My name’s Tomy and the past few years I’ve been working to help people improve their personal finances. I believe that everyone can achieve financial freedom and reach retirement. It just takes planning and a little motivation. On this channel I teach you how credit is the first step to improving your finances, & with good credit you can take control of your finances to reach your goals. Feel free to reach out anytime! I’d love to help you reach your goals
#PersonalFinance #Budgeting #EverydayFinance
The information contained on this TH-cam Channel and the resources available for download/viewing through this TH-cam Channel are for educational and informational purposes only.​
From Tomy: Hey there! Thanks for taking the time to watch this video. I always want to be 100% transparent in my videos so I want to disclose that occasionally I may shoot videos where I am paid by, or an affiliate, for a specific brand or company. In complete honesty I am running this youtube channel as a for profit business BUT I do have strict criteria for businesses/brands I mention and work with. I always have my audience in mind first and foremost. If it’s something I wouldn’t use myself I won’t recommend it.

[@tomy]

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[@mrhrcollins]

Great video. Just found your page and subscribed . People always live above their means and most are struggling with that 50% part. If you want to better your situation change your situation. I like in Los Angeles and there’s no way you can survive with 50k a year if you’re living alone and in a at least decent area. Great way to break it down. Most people need to just eliminate the want % cause they need it for their need category 😅 Saving is critical for your future!

[@tomy]

100% agrée! And yes LA is getting outrageous 🤦🏽‍♂️ thanks for the sub

[@DaLucster]

Nice vid 👍

[@tomy]

Thanks for watching 🙏

[@originalsal2141]

I just had my lease renewed for $720 a month and got a new job offering 55k per year plus a 10% annual bonus. Wanted a better place but I’ll struggle this out a little bit and see how much I can save.

[@BullMarketBandit]

Thank you

[@Erin____]

$3200 take-home pay and $1150 rent before utilities. I’m one of the lucky few in California who has a below-market apartment. Similar places going for $1800 or more, and it’s all thanks to a reasonable landlord who hasn’t raised the rent. Even though it’s a tiny place, moldy and deteriorating. This is the perfect opportunity to stack some savings.

[@tomy]

Sounds like you’re really thinking it through! 👌 it’ll all be worth it in the long run

[@andrewminjiras5745]

Excellent analysis…I pay 38% for rent. Too much on retirement income! Guess I have to move.

[@andrewminjiras5745]

I live in Bay Area so will consider another state. 38% is too much for rent.

[@davidmckesey7119]

so my rent needs to be around 1100? in orlando florida?

[@tomy]

It's just a benchmark. May not always be achievable. In that case you'll want to look for ways to increase your income to get you back under the original percentage

[@DefenseIsLacking]

Is it 30% before or after taxes?

[@tomy]

Focus on take home pay