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What percentage should your rent be to total income?
Rank: Member Joined: 5/8/2013 Posts: 386 Location: Nyali mombasa
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Ngogoyo wrote:Kihara joni wrote:I am at exactly at 19.5% including water, elect. & garbage collection,I am happy with that. This is great @Kihara ...are we talking of Net income after tax or before tax? For the later, I am @14.5% but the former @19.93%  I am striving @15% of income after tax by end of the year ...by increasing my income  This after taxes and any other deductions (in my case deductions include 10k mandatory which I put in stocks every month)
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Rank: Member Joined: 3/26/2012 Posts: 830
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Swenani wrote:S.Mutaga III wrote:Friends and enemies call me stingy. I just discovered that my rent is just 5% of my monthly income and I usually have no debts. Am I too mean to myself or is that too much? What is the reasonable proportion of ones income that should go to the landlord? is this 5% of gross income or net if its net let us be conservative and assume you pay rent of 20K(one bedroom in doni or two bedrooms in kinoo) Does it mean your net income is 400K per month? If thats the case, am going to deactivemy wazua account, stopeating fish and start mugging people Relax...a one bedroom does it for me as a bachelor and it is nowhere near the city center so the rent is very low. In fact, it is not even half of 20k...hizi sides za Thika Rd A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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Your salary, divide it by 5. (This applies to salary only) 1st fifth ..... Rent 2nd fifth ... Saving, Investment and maendeleo 3rd fifth .... Family expenses (food, clothing, etc) 4th fifth .... More family expenses and emergencies 5th fifth .... Luxury, harambees, parties, holidays, goat eating etc etc In other words; Maximum 20% on rent, At least 20% on development, Around 40% on family related expenses and emergencies, and maximum 20% for fun and socialization needs. Man is no island. Utamu wa kazi, ni pesa. Na utamu wa pesa, ni kuzitumia. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 11/26/2008 Posts: 2,097
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S.Mutaga III wrote:Swenani wrote:S.Mutaga III wrote:Friends and enemies call me stingy. I just discovered that my rent is just 5% of my monthly income and I usually have no debts. Am I too mean to myself or is that too much? What is the reasonable proportion of ones income that should go to the landlord? is this 5% of gross income or net if its net let us be conservative and assume you pay rent of 20K(one bedroom in doni or two bedrooms in kinoo) Does it mean your net income is 400K per month? If thats the case, am going to deactivemy wazua account, stopeating fish and start mugging people Relax...a one bedroom does it for me as a bachelor and it is nowhere near the city center so the rent is very low. In fact, it is not even half of 20k...hizi sides za Thika Rd S.Mutaga III wrote:I am a wazuan(probably the youngest) and would like some insight from my fellow wazuans. I am in campus(second year) and I have managed to save 50k over the long holz by rearing chicken back in shagz. However,since I school in Nairobi, and I do not plan to leave after graduation, which is the best biz I can start today so that 2 years down the line I wont be tarmacking broke but will have a ka-biz to atleast pay my bills before my parents kick me out. Dont tell me to invest in stocks because I have already invested in them. Kindly share how you survived after graduation because many have told me that was the hardest part of their life. They finally kicked you out??? "Never regret, if its good, its wonderful. If its bad, its experience."
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Rank: Elder Joined: 3/2/2007 Posts: 8,776 Location: Cameroon
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If you are working in some of these rural towns like Kapsabet, Muranga, Molo, Kitui, Embu, Mumias etc, it is very possible to find a nice 2br house at 5k! Believe it or not. Now if you go further and work in rural-market-centres (not the larger rural towns), 2-3k you are home and dry. That is why you find those teachers back in the villages with so much to show for their little salo while all your huge pay disappears with the Nairobi landlord and traffic jam. TULIA.........UFUNZWE!
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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simonkabz wrote:If you are working in some of these rural towns like Kapsabet, Muranga, Molo, Kitui, Embu, Mumias etc, it is very possible to find a nice 2br house at 5k! Believe it or not. Now if you go further and work in rural-market-centres (not the larger rural towns), 2-3k you are home and dry. That is why you find those teachers back in the villages with so much to show for their little salo while all your huge pay disappears with the Nairobi landlord and traffic jam. Umeongea kabisa!I always get amazed at how some teachers in shagz are doing well compared to some "managers" here in Nairobi. Nairobi pesa inaisha kwa landlord,traffic jam & phobe! Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 5/8/2013 Posts: 386 Location: Nyali mombasa
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simonkabz wrote:If you are working in some of these rural towns like Kapsabet, Muranga, Molo, Kitui, Embu, Mumias etc, it is very possible to find a nice 2br house at 5k! Believe it or not. Now if you go further and work in rural-market-centres (not the larger rural towns), 2-3k you are home and dry. That is why you find those teachers back in the villages with so much to show for their little salo while all your huge pay disappears with the Nairobi landlord and traffic jam. Very true I visited a friend who works for the government, and lives in Maralal town ouskirts, he earns just 70k but he is like aking there, lives in a homestead at 1,200/- pm,his premio jus consumes like 1000k per week, the guy uses only 10k of the salary, alisema atarudi Nairobi in 5 years time loade like hell
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Rank: Member Joined: 3/26/2012 Posts: 830
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Tebes wrote:S.Mutaga III wrote:Swenani wrote:S.Mutaga III wrote:Friends and enemies call me stingy. I just discovered that my rent is just 5% of my monthly income and I usually have no debts. Am I too mean to myself or is that too much? What is the reasonable proportion of ones income that should go to the landlord? is this 5% of gross income or net if its net let us be conservative and assume you pay rent of 20K(one bedroom in doni or two bedrooms in kinoo) Does it mean your net income is 400K per month? If thats the case, am going to deactivemy wazua account, stopeating fish and start mugging people Relax...a one bedroom does it for me as a bachelor and it is nowhere near the city center so the rent is very low. In fact, it is not even half of 20k...hizi sides za Thika Rd S.Mutaga III wrote:I am a wazuan(probably the youngest) and would like some insight from my fellow wazuans. I am in campus(second year) and I have managed to save 50k over the long holz by rearing chicken back in shagz. However,since I school in Nairobi, and I do not plan to leave after graduation, which is the best biz I can start today so that 2 years down the line I wont be tarmacking broke but will have a ka-biz to atleast pay my bills before my parents kick me out. Dont tell me to invest in stocks because I have already invested in them. Kindly share how you survived after graduation because many have told me that was the hardest part of their life. They finally kicked you out??? I kicked myself out after learning how to hustle. Sometimes a man has to do what he has to do A successful man is not he who gets the best, it is he who makes the best from what he gets.
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Rank: New-farer Joined: 7/18/2012 Posts: 76
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I pay 5% of my net salary and 2% of my total income. I live in what people call rural town. The town is not clustered. All income groups stay in same type of houses.
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Rank: Member Joined: 5/14/2014 Posts: 289 Location: nairobi
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24.63% shame on me! I find satisfaction in owning great business,not trading them
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What percentage should your rent be to total income?
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