LOCATION Depending on your current situation, location may matter more or less to you. For instance, the increase in remote working is allowing us to rent in areas that are less expensive simply because they’re further from the downtown area.
SIZE A larger apartment doesn’t necessarily equate to a better one. However, renting with roommates can also be beneficial for more space. And, at the end of the month, the shared bill should be about the same price.
LIVING IN THE APARTMENT After you’ve moved in, hopefully your housing expenses (rent plus utilities) won’t exceed the 50% threshold. Then, you would be left with 30% of your income to spend on your wants, such as subscriptions, entertainment and shopping.
Although these costs may seem insignificant — especially if it’s “just” a small pastry or daily coffee —they can accumulate over time and take a big bite out of your monthly budget. Gradually reducing the amount of money you spend should not result in uncontrollable shopping sprees.