Submitted by irishgirl249 t3_zzlx2v in personalfinance
wsaaasnmj t1_j2cfd12 wrote
Reply to comment by PurpleVermont in Can I afford $2800 rent based on my financial situation by irishgirl249
Ah yes I see, I would still say that this is still pushing it for a 2800 rent, and I personally wouldn't do it.
PurpleVermont t1_j2cfxu5 wrote
The 30% rule doesn't make sense in all situations. Without any car payment, they can afford to go even a little over the 30% if desired, assuming they either don't need a car at all, or have a reliable one and aren't going to need soon.
When my husband and I were grad students, we spent well over 50% of our income (stipends) on rent, but had basically no other expenses other than groceries and textbooks (tuition was paid by fellowships/assistantships) and it was fine. No cars, no other expenses.
A rule of thumb assumes certain typical expenses, several of which OP does not have.
wsaaasnmj t1_j2cg7rb wrote
I agree, this is really where it come down to OP's financial practices and what they value.
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