So it's Friday afternoon and I'm sitting here counting down the hours and minutes until I can leave work and have the glorious weekend begin. My sister is out of town and she let me borrow her car, so now I have all this freedom at my fingertips!
First, let me start with some celebratory news - I got a raise at work! They love me so much over here! Hooray! It was effective Jan 1, so this paycheck included all my retro-active pay so my paycheck was extra happy this time!
Speaking of paychecks, I was thinking about how much money I pay in rent, and I calculated it out that I pay about 32% of my take-home pay to rent. Now, this number is skewed a lot because I am basing it off of my paycheck amount, which includes my deductions for things like flexible spending and my 401k - which I try to put a lot into, but more on that later.
Anyways, I got to thinking - what is a normal percentage of my take-home pay to spend on rent for a 20something? I think 50% is way too much, especially if you are one of those people who are never home. I also think it's always a good thing to live well below your means, but what is the norm?
Congrats on the raise!
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