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Nairaland Forum / Nairaland / General / Properties / How Much Of Your Salary Should Be Used To Pay Your Rent? (28137 Views)
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Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Jidefido(m): 12:56pm On Jan 28, 2022 |
I completely agree with you on this. Anything above 3 months is disaster KillIgbohoN0W: |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Newboss(m): 12:57pm On Jan 28, 2022 |
htdot: Have you considered how much the person earns? What about the person's expenses? What about the cost of renting in the state/country? These are variables that could allow one to spend over 70% on rent and not feel shît. And no, they won't be living above their means. When it comes to means, context is everything. Percentage is not an exact figure. Percentage depends on context 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by damosky12(m): 12:59pm On Jan 28, 2022 |
obamartins: Less than 20 percent. Inside the bush. Boss. This is low-key ijebu sturves. 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Paramount01(m): 1:00pm On Jan 28, 2022 |
PHIPEX: Did u have other side hustle or you just depend only on salary |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by siyeke2023(m): 1:00pm On Jan 28, 2022 |
My net monthly take home is about 265k, my rent is 350k. How am i doing? 6 Likes 2 Shares |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by obamartins(m): 1:02pm On Jan 28, 2022 |
damosky12: Oga leave me make i stay my bush in peace o. 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Richie77: 1:06pm On Jan 28, 2022 |
It is well with Nigeria... |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by authority2006(m): 1:06pm On Jan 28, 2022 |
jojofola: Enlightenment is very necessary, you don't know who's going to learn from this and make adjustment 2 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Pinkyposh(f): 1:09pm On Jan 28, 2022 |
Michelle70:How explain better |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by htdot: 1:09pm On Jan 28, 2022 |
Newboss:if you are earning 480k a year you shouldnt spend more than 120k for rent.. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by whodeyhere: 1:10pm On Jan 28, 2022 |
hofeshhomes: God bless this OP alot, I needed this the most at this time 1 Like 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by TUTU147: 1:10pm On Jan 28, 2022 |
OgunkeelAllMod:I wish I can have such a link, good pay gives you Joy. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by dre11(m): 1:11pm On Jan 28, 2022 |
It all depends on where you stay.... If you live in lag, abuja i would advise you to budget not more than 30% of your salary But if you stay where rent is not expensive, you can budget 15% of your salary for rent |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by 123papas(m): 1:12pm On Jan 28, 2022 |
less than one month salary |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Chatflick(m): 1:21pm On Jan 28, 2022 |
Wahala for salary earners o. It is well. I can't tell because I can get my house rent in one day . God bless the internet and technology 4 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by phorget(m): 1:24pm On Jan 28, 2022 |
My annual salary is for my rent, I live on other stream of incomes. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Omini247: 1:31pm On Jan 28, 2022 |
Michelle70:explain |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Wealthoptulent(m): 1:40pm On Jan 28, 2022 |
hofeshhomes: 3 months.. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by BuyAndSellStuff: 1:41pm On Jan 28, 2022 |
obembet: Hmmm Do you know that quality of life can affect income too? Sometimes, its better to just pay slightly more for a place that's close to your workplace or where there's steady electricity because you will still spend it and even more when you add tfare and fuel expenses. You didn't add those while typing this o 4 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Jaysleeves(m): 1:44pm On Jan 28, 2022 |
There are so many factors to consider in this ... 1. Proximity to place of work i.e I earn 100k and I decide to rent a cheap apartment let's say ikorodu, epe or other suburbs for 60-100k rent meanwhile I work on the island.. do you know how much I will spend on transport daily? 2. Health and comfort : most people in Lagos can't boast of 4 hours sleep due to the usual waking up early and getting home late .. I have a friend who earns 150k and decide to rent a house of about 900k, on the island which is just Max 15 mins from his work place with Max transport of 400 naira daily .... My guy is very much comfortable with this cause he gat time to rest and take care of other businesses. Note : consider amount be paid for transport together with rent in your percentage too... 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by iamdapsyj(m): 1:48pm On Jan 28, 2022 |
CodedWealth: The UN specification is actually 25% of your monthly salary........30% is even too high in my opinion. 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by rita25(f): 2:06pm On Jan 28, 2022 |
oga buy house do mortgage and get your own place and if u want to relocate you sell and have money stop enriching landlord..ask me if interested Itsrm: |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by mattmogan88: 2:11pm On Jan 28, 2022 |
Abeg how can one manage 30k salary,? the thing still Dy confuse me 2 Likes |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by whirlwind7(m): 2:24pm On Jan 28, 2022 |
Mynd44: The recommended MAX amount is 25% of your income. Anything more than this is pushing it. I have practiced this all my life since I rented my first apartment eons ago. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by NamelessOGBENI(m): 2:25pm On Jan 28, 2022 |
Mynd44: |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Charly500(m): 2:40pm On Jan 28, 2022 |
AgentGoat: No now, how will you feed for those months, u have to just save up before the due date. I earn 100,000 per month and my rent is 170,000. i just have to save up by being prudent with my spending to ensure its ready before the due date. it should not be more than two months at least, as things are really expensive these days in nigeria, especially when you are a family man with children. 1 Like |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by louqas: 2:42pm On Jan 28, 2022 |
hofeshhomes: Your annual rent shouldnt be more than your one month salary... |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Deicide: 2:53pm On Jan 28, 2022 |
If you day earn 50k. 150k go get you self contain for some area. The remaining 450k see how you go take manage am. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Anonymoususher: 3:01pm On Jan 28, 2022 |
When I was a salary earner taking 60k a month, I rented a face me I face you apartment that was 4k monthly here in Lagos and transport to work was trekkable. It was horrible but I was saving and planning my escape from the company, one of my colleague was living in a 250k a year apartment and was always complaining of money. By the time I saved enough, I resigned my job and went into business with the money saved and now I live in a 2bedroom paying 650k per annum. I have a plan with Piggyvest that enables them to deduct 2k everyday from my account Bottom like is never use beyond max 2months salary for rent else u will put yourself in mortgage stress. 2 Likes 1 Share |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by Rubbiish(m): 3:02pm On Jan 28, 2022 |
OgunkeelAllMod:I agree with u I just had to say majority as I no understand the guy post. Thinking everyone na big man. |
Re: How Much Of Your Salary Should Be Used To Pay Your Rent? by nelszx: 3:02pm On Jan 28, 2022 |
Michelle70:Please can you kindly explain? 1 Like |
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