Is it okay to spend 20k on rent
Im 25 single and my salary us 1.4L after taxes. Is spending 20k on rent wise? What should be the ideal rent i should pay from my salary
Unless you're looking at just two flats very close to each other varying mostly in their appearance (and rent), it's ok given your compensation and city. When I started earning in 2017, I was netting 93k take-home post taxes and paying 24k for a 2 BHK in Gurgaon (was staying with mom)
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I've always held that emotional upliftment, improved productivity etc should always take precedence over saving few thousands because few years down the line that saved amount would likely mean nothing to you but the opportunity cost (for eg higher stress, poor health due to longer travel times etc) may hold you back for several years to come
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Read my comment here https://share.gvine.app/JdXba3cCbUigAzrY8
My whole home at my native runs with 20k per month. It feels so bad that I should pay that much just for rent
Yeah it takes some getting used to. But overtime you'll realise that hefty paychecks (at least in initial few years of career) are simply decent pays scaled in accordance with cost of living in those cities, and therefore you must not keep calculating everything penny spent with your hometown as it'll make you depressed.
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I recall during my early days at previous place (a food tech major startup) there were two fellow developers from NIT Bhopal who were quite cautious with their spends. They relocated to a low cost place (standalone building having 8-10 flats) near office (that area was cheap) and soon found themselves amongst orthodox families with bad tempered uncles and aunties who would purposefully create troubles for them in order to force out bachelors from their building.
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Similarly initially out of their habit from hostel life of college they were doing most of the chores (cleaning, dishes, laundry etc) by themselves. Overtime when heavy office workload became impossible to manage they outsourced these to household helps / got washing machine etc. and learnt the hard way why it's unreasonable to expect earning like corporate riches while continuing to live like college rag tags.
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Moreover on a psychological level living well could have an overall positive impact on your growth. Consider the kind of people (flatmates, their friends) you'll meet in a 10k/month room vs a 25k/month room. I don't intend to insult anyone but you can guess in which place there's higher likelihood to find high achievers, people with growth oriented mindset. (and then you would must've already heard: you're the average of 5 people you spend most time with) Similarly your surroundings also have a strong influence on how big you dreams would be.
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Again not stereotyping and it may not always hold true (you might as well find some spendthrift idiots at luxurious accommodations), but I hope you get my point.
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It's ok bruhh.
15% of net earnings at home rent is fine. ( I keep it at 10%)
But if u really laid off then not :D
My whole family at native place runs with 20k per month. It feels bad that I have to spend that much for rent here.
If it is affecting your savings then try to share the apartment with someone so that your rent outflow is reduced. Otherwise this is a very subjective question
MuchosGracias
Stealth
7 months ago
Dude. Love your life. You get to be single and live large once
Splurge on a nice house. Call friends and family over. Don’t live in a shittier place to save some 4-5k. You’re earning enough where it won’t pinch as hard
I am spending 30k on rent and my salary is same as yours after taxes
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I would suggest buy a flat and pay up as soon as possible. Thank me later.
Maybe you can cut costs. But the question is do you need to cut costs. If you’re doing proper investment planning and already setting aside money for fun activities then you need to take the call whether your rent is high or you can do something with rent saved
PersonalFinanceAbhi
Stealth
7 months ago
Absolutely fine! Once you plan to get married then you both decide on which city to settle then you can discuss going for home loan for permanent solutions.
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