I was looking at some estimates for housing costs that said that rent should be 25% of your spendable income and total housing cost about 33%. Mine are much higher at 32% and 40% respectively.
I was thinking this was too high but the same estimates had transportation at 8%. Thanks to where we live, our transportation cost is actually near zero, so maybe these two balance each other out.
Any thoughts on whether this is adequate or if it is too much to spend on housing? i am currently trying to figure out how to save money as it is getting tight and I'm trying to see if i am living beyond my means.