Posts tagged rent

I was talking with my dad on the phone tonight and we had a discussion about the cost of hotels, apartments and houses. One interesting finding for me was that I’ve always tried to do the “cost of housing” calculation by year - never looking at it from a monthly or daily perspective. This may make more sense for travelers, especially those working and traveling like me.

The rule generally goes “rent should be less than 1/3 of your gross (pre-tax) income”. This means if you make $30,000 per year, your rent should add up to no more than $10,000 per year = $834 per month = $28 per day.

Therefore, the cost of your hotel, motel or hostel should be that “per day” number - in this case, $28.