Finding a budget that gives you cash for entertainment, food, gas, and a little more money for gas since we are expecting to pay more for gas, utilities and adequate funds for other costs of living. We think that 50% of your gross monthly income is a comfortable ratio. It leaves room for savings, and [provides a comfortable amount of money left over. Standards for many rental properties near 2/3 of your gross wages, but that seems a bit over zealous to us. If you think about a $1,200 gross monthly income, basically $10 per hour working 40 hrs per week, at 2/3 your rent would be $800 per month. After income taxes are paid and you cover utilities, your probably broke.
The 2/3 income figure stems from a 50% gross 2/3 NET ratio. Your NET pay is the actual amount of your check after taxes, your take home pay. For a single person without children even that is tight, taxes are higher, and splitting the cable bill is certainly out of the question. Roommate up! Single, college age, or even older, find a friend, co-worker and start hunting. Use our site and it's rating system to view properties, rate them you then your potential roommate, print the page out or email it to your self. Grab the copies and sit with your roomie after he/she was able to check out the rentals and rate them, find the unit that both you and your roomie rated the highest, and of you go. You may have given one 5 Stars and your roomie 4 Stars, but that's how the chips fall. It's a compromise. Tie breakers can go to a Coin Toss, Paper, Rock Scissors, Odd or Even, or any other ethical playground rules you can conjure up. Paper, Rock, Scissors, rules should however be defined in detail, excluding Knife, Gun, Chainsaw, and Waterfall (Beerfall), and Atomic Snack Food. No one enjoys a soda or piece of pizza smacked on their hand claimed to be a secret weapon. Thumb War should be excluded as it is typically genetically advantageous, and no one knows what you just scratched, and secret weapons are massively plentiful. In summary rent what you can afford, and if available roommate up!