Spending 30% of my net take home pay on rent - excessive?

tonynz

How much % of your take home pay do you spend on rent?

mazy_m

No that's not excessive at all i'd say I know people who spend close to half!!
It does depend where abouts you live and what conditions you are living in. A room, a flat a house etc if you live alone or together etc.

GAH

Each person differs as to the lifestyle they lead. Most people will say to be comfortable no more than 25% of your salary should go towards rent or mortgage.

Mine is around 18%

hellokitty08

Mine is about 40% and im fine with that. I love my flat.

DannyboyMidlands

I personally think thats pushing it a bit. The old rule of thumb used to be something like a third of net salary on rent or mortgage, a third on bills/general spending and a third into savings.

But I like to spend no more than 1/4 on accomodation, 1/4 on bills and general spending, save 1/2.

Currently my rent is 15% of take home.

Lilibee

Just worked mine out at around 38%

However, we do live in a VERY expensive area of the country, and my OH is a full time student so I'm paying the whole lot at the moment.

mazy_m

DannyboyMidlands wrote: »

I personally think thats pushing it a bit. The old rule of thumb used to be something like a third of net salary on rent or mortgage, a third on bills/general spending and a third into savings.

But I like to spend no more than 1/4 on accomodation, 1/4 on bills and general spending, save 1/2.

Currently my rent is 15% of take home.

I'd love to live by this...unfortunately we're not all in the position to be able to do this. I moved into my current home a couple of years ago and we thought it was cheap enough was only £50 more deposit on top of what we had back from last place...most others were asking for £400 deposit!!! ekkk!! so we had to move in here really but it is a studio with only a shower but needs must!! however i've looked recently and for the same area we are in it's £200 more for a studio probably in a bit of a better condition but without a great garden also we are in a very quiet place for our area but I love it here! Not the house but like I said needs must... we just couldn't afford £200 more to be above a shop where most of those other studios are!! not to mention there's no parking there!! I am in London though so it's probably a law unto itself here!! ha ha!!

Mat_Lock

My rent is £400 inclusive all bills except broadband. which works out about 25% of my take home salary.

DannyboyMidlands

mazy_m wrote: »

I'd love to live by this...unfortunately we're not all in the position to be able to do this. I moved into my current home a couple of years ago and we thought it was cheap enough was only £50 more deposit on top of what we had back from last place...most others were asking for £400 deposit!!! ekkk!! so we had to move in here really but it is a studio with only a shower but needs must!! however i've looked recently and for the same area we are in it's £200 more for a studio probably in a bit of a better condition but without a great garden also we are in a very quiet place for our area but I love it here! Not the house but like I said needs must... we just couldn't afford £200 more to be above a shop where most of those other studios are!! not to mention there's no parking there!! I am in London though so it's probably a law unto itself here!! ha ha!!

Just worked out that when I was in London my percentage was the same - 15% - but I rented a room. Now out of London, earning slightly less but renting a 2 bed flat with balcony and sea view.

tommie1shunt

You don,t want to hear I suppose, but we spend nowt, nice feeling, be honest, it ain't up to much and could do with a few bob spending on it.

sonastin

It also depends what it is 30% of...

30% of minimum wage - can be quite tough to pay for everything else you need out of what is left.
30% of Wayne Rooney's net take home pay - well, I think I could live quite comfortably on what is left over. Wouldn't mind being the LL that could charge that amount either!!