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Nairaland Forum / Nairaland / General / Properties / How Much Of Your Salary Should Be Used To Pay Your Rent? (28138 Views)
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Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by juniorstar(m): 11:43am On Jan 28, 2022 |
hofeshhomes:One month salary should house you for a year Highest 2 months.. 14 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by obembet(f): 11:43am On Jan 28, 2022 |
If your one month salary cannot pay your rent, then u need to change your house. 14 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by manny4u(m): 11:45am On Jan 28, 2022 |
20% of my yearly income-that is like my 2months salary, rent in Abuja is not easy especially if you want a decent home. Na to build your own house sure pass ooo. 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Michelle70(m): 11:45am On Jan 28, 2022 |
Mynd44:30% to me is too much. If u are paid 200k, a rent of 720k is too much abeg. What if u earn the minimum wage of 30k, should u pay rent of 108k? I'd advice 20% at most 12 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by perez100: 11:46am On Jan 28, 2022 |
This is a good thread where people can learn. You can get a good advise from people who are blessed with wisdom and financial experts. The information will help you plan yourself to avoid living above your incomes. If you can put pride behind - you will plan yourself to success. 7 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by skj1377(m): 11:46am On Jan 28, 2022 |
Your rent should be 2 months salary at most. That way you have 10 month profit left for other expenses. 8 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by FuckDModz: 11:47am On Jan 28, 2022 |
My annual rent is less than my monthly earning... There are better things to do with money. If you have to save to pay rent, you simply can't afford that house. Double your hustle! 16 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by habakukjss3: 11:48am On Jan 28, 2022 |
k2money: How could you advise people when u admitted you never rented house in your life. Keep to what you know better, don't advise on topic you know nothing about 12 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by IconsConnect: 11:49am On Jan 28, 2022 |
CodedWealth: True |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by FuckDModz: 11:49am On Jan 28, 2022 |
obembet: Nah, you need to increase your income. 3 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by SleekyP(m): 11:49am On Jan 28, 2022 |
Serviced Apartment please!! 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Nobody: 11:50am On Jan 28, 2022 |
1 month out of the 12 months 2 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by aikyg(m): 11:50am On Jan 28, 2022 |
Your salary for one month should be able to pay your rent for one year. If your salary cannot pay your rent for one year, then you need to either find a better paying Job, a side hustle or a cheaper apartment. 10 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by jericco1(m): 11:52am On Jan 28, 2022 |
I don't know though but as far as I am concerned, I start saving for my next rent the day I pay the current one. So I don't really know how it goes. But like you said if the salary is fixed the person shouldn't use more than two salaries to pay rent. It'll only lead to pressure on the person. 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by federal9: 11:53am On Jan 28, 2022 |
I earn 650,000 a month. My house rent is 700,000 a year. Almost one and a half months of my salary goes to rent. 7 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Skyfornia(m): 11:54am On Jan 28, 2022 |
AlphaStyles: So if someone has a business that generates income of 100k monthly and he needed an assistant to work with him...he should be paying the assistant more than he is paying himself? 4 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Rubbiish(m): 11:55am On Jan 28, 2022 |
manny4u:True @bold Rent dey chop person for abuja |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Image123(m): 11:55am On Jan 28, 2022 |
Zero na, squatting is allowed. Or leave in your oga's house as he is your mentor abi? |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Whobedatte(m): 11:55am On Jan 28, 2022 |
Some of you never house hunt lately ,perhaps na em make Una dey misyarn . House rent is on the high side now , agents are telling house owners to increase house rent that's why most houses are overpriced . With 400k , you can hardly get a decent 2bed now especially in centralised areas for easy access to work . People also want comfort for their family and not live in shanties called houses . My best advice is to increase your earning and double your hustle 17 Likes 2 Shares |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by KelvinCoaster(m): 11:55am On Jan 28, 2022 |
Calculate 33.33% of your monthly take home(net salary),multiply the figure by 12 months and that is what your house rent shouldn't exceed but if you are married,you need to do a summation of your spouse's annual take home(net salary) and calculate 33.33% of the figure,then add it to yours! That is what your house rent shouldn't exceed too! 5 Likes 2 Shares |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by k2money(m): 11:56am On Jan 28, 2022 |
habakukjss3:Thanks but I advise not putting it on anybody. If you keep 10% of your salary calculate that for 12 months isn't that enough to rent and have a peace of mind. 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by chukzyfcbb: 11:56am On Jan 28, 2022 |
Financial Experts always peg it at no more than 25-30%. if you earn 2million annually then you should ATMOST i.e the EXTREME not be in a house that cost 500-600k otherwise you are living above your means. The lesser you can bring this number down, the better for you. Lagos people can sure relate 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by captainprogress(m): 11:57am On Jan 28, 2022 |
Skyfornia:Why do u need an assistant when u are struggling, abeg no put people for suffer 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by iCauseTrouble: 11:58am On Jan 28, 2022 |
Not more than 3 months. That's like 25% of your annual salary |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Lovenorth: 11:58am On Jan 28, 2022 |
For those that didn't own a house, may God give them, I really sympathize with them 12 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by koolguy88(m): 11:59am On Jan 28, 2022 |
To justify your earnings and savings/investment, your annual rent should not exceed your one month salary. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by michoim(m): 12:00pm On Jan 28, 2022 |
Itsrm:Nice one 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by omenkaLives(m): 12:01pm On Jan 28, 2022 |
If your rent is anything more than your two months income, that house isnt meant for you. 2 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Rubbiish(m): 12:01pm On Jan 28, 2022 |
FuckDModz:The bold can only work if u have a good monthly pay 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Cognitivereason: 12:01pm On Jan 28, 2022 |
2 months of ur monthly pay... 3 month max 2 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by BlackyOne: 12:02pm On Jan 28, 2022 |
As of today I'm using 60-70% to pay rent in this Lagos. God!, I'm exhausted!!! 5 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Skyfornia(m): 12:03pm On Jan 28, 2022 |
captainprogress: Calm down and make your point...no be fight. Let's say I have a business and opened another business that requires a salesgirl, and the new business is generating less than 100k profit. How much am I supposed to pay the sales girl...or are you saying I shouldn't have opened the new business or hired a sales girl for the new business? 3 Likes |
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