39K in hand after taxes and a few mandatory expenses.. what's the most I should pay for rent? (income, savings)

[greatfire]

I'm just wondering what you think?

58.5K gross. 39K when the dust settles. With this amount there is only rent, utilities, transportation, etc that I'll have to pay.

What do you think?

I'll be in the San Jose area.

[GreenMachine]

Try and pay the least, so that you can put money into a Roth IRA and whatever other savings plan you have. Very important to start saving while you are young, so that you can take advantage of compound interest.

Greenie

[8 SNAKE]

Ideally, you'll want to keep your housing costs at less than 30% of your income.

[GreenMachine]

greatfire,

I'd recommend putting together a budget. Decide what your goals are for savings and future purchases, like a car or house, and see what you want to pay for rent. Ideally 30% of after tax income should go to "must-haves" like rent, and 20% should go toward savings or paying off bills. If you want a copy of my daily expense tracker, PM me your email address and I'll send it to you.

Greenie