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is it bad that your apartment rent is higher than your biweekly paycheck ? or is it acceptional to combine and pay.?
14 Answers
- loanmasteroneLv 73 years ago
You should have a sufficient amount of funds on hand to pay all your debts especially your rent no matter the break down of your pay check and the time frame in which you are paid. This should be an ongoing.financial arrangement.
In your statement did you mean bi-weekly or bi-monthly? Most individuals are paid bi-monthly.
I don't know if you are paid bi-weekly or bi-monthly. If you are paid bi-monthly and your rent exceed this check, then you will
eventually have financial problems in paying your debts.
Whatever work for you in paying your debts is a decision you would have to make.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
- Beverly SLv 73 years ago
It's bad. Most landlords now require that you make at least 3 times the rent per month in income. So for $1000.00 rent you would be required to earn at least $3000.00 per month.
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- NWIPLv 73 years ago
Yes is it bad. They say your rent shouldn’t be more than 1/3-1/2 of your income but in many places today that isn’t possible for a single person, especially a parent. In some areas the rent has gone up $300-500 in the past year. Finding a cheaper place isn’t easy but you need to find more income or cut down on expenses, if necessary get rid of things so you have money. For some places it means you need to be making $20 an hour or more and there isn’t anything near that or you can’t get a second job
- babyboomer1001Lv 73 years ago
Yes, it is bad. It is extremely bad money management. You should not be spending anything near 50 percent of your monthly income on rent alone. Totally insane. I suggest you get out of there as soon as you can and find something affordable. You should have money left over every month, plenty of it - some set aside for traveling/vacation, some for investing, some for gifts....
Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience. - ?Lv 73 years ago
Its not great. Rent is supposed to be about 1/3rd of your weekly earnings. So, if your paycheck has significant taxes taken out then this could still be within that 3 to 1 ratio (or your gross pay), but it sounds kinda high. If you have other earnings or just dont spend much on other stuff then it could also be fine.
- Pearl LLv 73 years ago
i think it is, maybe you should move and rent a room from someone, thats always a lot cheaper
- daniel gLv 73 years ago
Well, it is not good, the balance act seems rents and utilities near 1/3 of your income. being frugal, may even let you have money at the end of the month for savings.