2007-08-31 14:11:26 · 6 answers · asked by Mary R 1 in Business & Finance ➔ Renting & Real Estate
When you have finally gotten on your feet and you no longer require your parent's money (Or their money isnt needed often) 33% of your paycheck should go towards rent, mortgage payments, and utilities each month. Many people make the mistake dedicating 70-80% of their paychecks to their rent, or mortgage just to live comfortably and disregard other important bills like cell phone, or credit card bills.
2007-08-31 14:20:04 · answer #1 · answered by tou 1 · 0⤊ 0⤋
If you were apply for a loan to buy a home, lenders typically want the percentage to be less than 40%, however there are many lenders who will go to 45%, 50% or even 55%.
2007-09-03 20:21:53 · answer #2 · answered by Genki 3 · 0⤊ 0⤋
That depends on the other aspects of your financial picture. I would not feel comfortabel not having at least 30 % left after ALL bills were paid each month.
2007-08-31 14:19:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
save 15%, spend the rest on bills and having fun. once you have saved enough, say 1000, then buy a CD or something and start on your next CD. do not go into adulthood broke.
2007-08-31 14:16:47 · answer #4 · answered by 27ysq 4 · 0⤊ 0⤋
Generally, housing debt to gross monthly income should not exceed 29%. But that is just housing.
2007-08-31 14:19:46 · answer #5 · answered by Etta P 4 · 0⤊ 0⤋
If you mean do you need a budget the only correct answer is YES
2007-08-31 14:19:35 · answer #6 · answered by Jan Luv 7 · 0⤊ 0⤋