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Nairaland Forum / Nairaland / General / Career / What Percentage Of Your Salary Should Be Allotted To Accommodation? (34477 Views)
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What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 2:04pm On Mar 04, 2016 |
I am working seriously on increasing my savings "I don too blow money" pls nairalander, what percentage of salary is advisable to allot to accommodation? Thank you! 2 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by chivic(m): 2:17pm On Mar 04, 2016 |
It should never exceed 35% 4 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 2:20pm On Mar 04, 2016 |
chivic:Thanx chivic. I jst think there is a benchmark. A certain percentage one shouldn't exceed no matter what. 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 8:23pm On Mar 04, 2016 |
Tosyne2much, ngeneukwu what do u think? |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by tosyne2much(m): 10:20pm On Mar 04, 2016 |
Mbkite:Tell us your salary first ![]() 12 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 10:45pm On Mar 04, 2016 |
tosyne2much:Lol, we are talking abt percentage here. 4 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 10:48pm On Mar 04, 2016 |
chivic:ok, thanx. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by nabiz(m): 7:54pm On Mar 05, 2016 |
My houses rent is less than my average monthly income. I think your house rent should not be more than ur one month salary or income 60 Likes 5 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by nabiz(m): 7:58pm On Mar 05, 2016 |
chivic:I think 35% is too much 30 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 8:52pm On Mar 05, 2016 |
nabiz:Nabiz, can u quote d maximum percent of ur income that u can allot to housing. Pls in percentage. 2 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by nabiz(m): 11:44am On Mar 06, 2016 |
Mbkite:do u want to know how much I earn? It personal my brother. I am economical and will not allow my house rent to be more than my average monthly income because I have to save money for other things. I earn like a contractor but live like a primary school teacher. My friends even my wife calls me a stingy man and I don't care lol. For now I live in an average man room and parlor but well furnished 29 Likes 4 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 2:28pm On Mar 06, 2016 |
nabiz:LOL. I'm not asking for hw much u earn, of course I knw it's personal. What I am asking here is d percentage of ur monthly salary/income you allot to housing. say, 10%, 20%, 30% etc. 3 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by omoalapata: 4:58pm On Mar 10, 2016 |
I believe 10 - 15% of your annual income should do the trick 7 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 10:17pm On Mar 11, 2016 |
omoalapata:I just feel d 10% is small, especially if u're staying in Lag, Abj or PH. 11 Likes 3 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by blackfm: 4:11pm On Mar 13, 2016 |
This issue is relative with a lot of variables such as status, geography and income so u cant just put a % to it. A single guy can make do wit a self contain or miniflat which is valued at about 300k in lag whereas same will cost 150k in ibadan. A married man with kids has a diferent space need and so on. My formula is this, ur expenses for the monthly( after breaing the ones paid one off like rent into months) should not exceed 1/3 of ur income. 1/3 of it should go to savings while the other 1/3 should service your debts and go into short term investments. 9 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Mbkite(m): 2:47pm On Mar 14, 2016 |
blackfm:Nice 1 3 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by frankwells(f): 6:30pm On Mar 15, 2016 |
THEY CALL ME JAGABAN, I WILL BE CONTESTING FOR THE REPUBLIC PRESIDENT COME 2031 |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by TopsyKrete: 6:31pm On Mar 15, 2016 |
Why you dey ask ![]() |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by joygrace647: 6:31pm On Mar 15, 2016 |
Mbkite: |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by pendusky(m): 6:31pm On Mar 15, 2016 |
5% should be okay... But 60% If you are saving to build your own house. 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by ladyF(f): 6:31pm On Mar 15, 2016 |
1 month salary or at most 10% of your annual income. You can't earn 100k a month and be paying rent of 250-300k, you have effectively worked one-quarter of the year for your landlord. ![]() It's [size=15pt]LadyF[/size] again ![]() ![]() ![]() 72 Likes 2 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by obajoey(m): 6:31pm On Mar 15, 2016 |
All.. |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by ngmgeek(m): 6:32pm On Mar 15, 2016 |
Are you planning to rob me ![]() |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by talk2riel: 6:33pm On Mar 15, 2016 |
chivic:25% should be the worst case scenerio if you allow them 35% a banana island them go look for house |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by SIRKOL(m): 6:34pm On Mar 15, 2016 |
This is what u should do n I am sure it will help u. Pay TITHES to urself from any money that enters ur hand, I mean any amount. 1 Like |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by abumeinben(m): 6:36pm On Mar 15, 2016 |
For me, at most ur 2 months salary.. 11 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by thecardinal(m): 6:36pm On Mar 15, 2016 |
Mbkite:Max 30% of income 3 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Nobody: 6:37pm On Mar 15, 2016 |
See all of una mouths...you de abuja where self contain sef na least 250k..one room flat 450k...you're a federal government worker with 50k salary...wetin u wan save?? Do d maths 37 Likes 1 Share |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Lexusgs430: 6:37pm On Mar 15, 2016 |
I still stay with my parents!!! 2 Likes |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Engrr(m): 6:37pm On Mar 15, 2016 |
nabiz:Your 1 month salary cannot give u a decent accomodation that befits your level in most parts of Nigeria, unless you are working in the village 28 Likes 2 Shares |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by TopsyKrete: 6:38pm On Mar 15, 2016 |
Is 30% too much? |
Re: What Percentage Of Your Salary Should Be Allotted To Accommodation? by Obeenah(m): 6:38pm On Mar 15, 2016 |
Mbkite: There is a benchmark which is 20% of your salary max. Anything above that means you are under what is termed "Housing Stress" in mortgage finance. You can go higher than the benchmark of up to 30% but never exceed that. So if you earn N100k for instance you should never rent a house above 240k to 300k per annum. Mind you this is assuming you dey rent house with facilities like running water and good power supply. 17 Likes 1 Share |
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