Whether your employer is footing the bill for your corporate housing San Diego apartment, or you’re paying for it out of pocket, you might want to consider a living budget. Part of a living budget is knowing when you are paying too much. If you do this and your employer, new or otherwise, is paying they will most likely see your cognizant of the dollar value, and you’ll make a good impression.
The first step you need to do is make a realistic budget, and you don’t need a computer program to do something like this. A budget helps you make the most of your money while allowing you to get a handle on your flow of money. Keeping track of your daily expenses with a pen and some paper, seems low-tech, but can be done easily.
Factoring how much you should pay for your rent directly reflects how much you can pay for other expenses. So, if your rent comes with amenities like parking, cable, hot water, concierge service, and such then spending a bit more might be of interest to you, especially if you’re going to spend a good deal of time at your place. So, paying an extra $200 per month for a lot of amenities could be worth it to you. However, if your new digs are just a place to hang your hat and sleep, then you might want to save the extra rent and use the money to pay back loans or other bills.
Metropolitan Life Insurance Company suggests that your rent should be no more than 25% of your monthly gross income. For example, if you are paid $40,000/year, or $3,333/month your monthly rent should be in the vicinity of $834. You can add in utilities after.