Overheard a guy say his rent is 30% of income and it hit me hard

Was at a coffee shop yesterday and this guy bragged his rent was only $900 on a $3k paycheck. 30% right on the nose. But then he mentioned no savings, no emergency fund. That number means nothing without the full picture. My rent is $1250 on $4k take-home but I bank 15% every month. Anyone else think the 30% rule gets used wrong?

2 comments

2 Comments

norag6624d ago

Ngl that 'no savings' part is crazy.

david_rivera424d ago

Man I just started putting twenty bucks aside each week even when it hurt and it added up way faster than I thought.