Is this too high of an expense?
I am moving to NYC for the first time. Due to prior bad experiences + personal reasons, I do not wish to have a roommate. I had a place accept my application downtown for 1900 for a studio with all utilities included. However, I am worried that this is a little high for rent as it is almost 40% of my post tax salary. Should I try to suck it up and find a roommate and get that rent down to 1300-1700 or is this fine as long as I do not start buying bottles on a weekly basis at clubs. I also come from a poor background so I purchased my parents a new (used) car which is an additional 350 a month coming from me upon graduation.
If you're making at least 40x monthly rent, you should be fine.
Pre or post-tax?
If $80K gross is the salary, $2K/mo is 40x.
If you're happy with the place and don't feel comfortable with a roommate (which is very understandable than most make it out to be), then $1900 all-in is perfectly fine assuming like 85k base. Good on you for helping your parents out also. Don't stress at all.
Thank you, they had the one beater camry from the early 2000s that was closing in on 200k so I figured the least I can accomodate is a reasonable used 2019 rav4 for them.
My main concern is that it does not leave me with much to pay the bills/wanting to invest as much as possible. Based off my math, post a 5% 401k (company does not match more), I have 4.7k in post tax salary. If 2300 is going towards apartment and the car, leaves with my 2.4k after of which food, etc.
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