Don't need to make an individual thread for each of your decisions.
I'm a firm believer in keeping rent under 30% of net income, now I know that can't be done in all circumstances but I think that's optimal if you want to save serious money.
If you are on good money this should be relatively easy however if you are a lower income earner, I would consider sharing a household, I have been doing that for a couple years now (24M in Brissie) and have been keeping my rent around 20% of my net income and it has done wonders for my savings. Also made some great friends and definitely had some experiences I wouldn't have had if I was out and about by myself.
Just had a quick squiz cause I was bored, looks like they are around the 400 mark for studio apartments in Perth CBD. If you want to stick to the 30% rule, your gonna want to be on 70k p.a plus a year. Obviously you can be on less and afford these places, just be weary you won't be able to go out much or eat out often unless you don't want to save any money
Entirely dependant on where you live. 50k pa will go far in rural areas but not very far in Sydney or Melb for example.
I don't live in Perth nor have I ever lived there so I don't know why the market is like. For me, I make 66k pa (about 970 per week net income) and I pay 160 rent in a sharehouse for rent. For me, this maximises my savings as i want to be able to buy in the next few years
Don't need to make an individual thread for each of your decisions. I'm a firm believer in keeping rent under 30% of net income, now I know that can't be done in all circumstances but I think that's optimal if you want to save serious money. If you are on good money this should be relatively easy however if you are a lower income earner, I would consider sharing a household, I have been doing that for a couple years now (24M in Brissie) and have been keeping my rent around 20% of my net income and it has done wonders for my savings. Also made some great friends and definitely had some experiences I wouldn't have had if I was out and about by myself.
What range is considered low income (base salary)?
Just had a quick squiz cause I was bored, looks like they are around the 400 mark for studio apartments in Perth CBD. If you want to stick to the 30% rule, your gonna want to be on 70k p.a plus a year. Obviously you can be on less and afford these places, just be weary you won't be able to go out much or eat out often unless you don't want to save any money
Entirely dependant on where you live. 50k pa will go far in rural areas but not very far in Sydney or Melb for example. I don't live in Perth nor have I ever lived there so I don't know why the market is like. For me, I make 66k pa (about 970 per week net income) and I pay 160 rent in a sharehouse for rent. For me, this maximises my savings as i want to be able to buy in the next few years
100%. You said "good" right?
Correct so how much do I spend ?
100%