You misunderstand me, I’m German myself. That’s nowhere near C-level, at least not in the bigger corporations. 8k a month is not even 100k a year. Engineers can earn that.
Yes I do, but my office is pretty much exactly 40 miles from where I live, so I could technically commute if I had to. Takes me about 45 min to get there on a good day, with traffic can be 1:15h.
In France the law does not allow rent (or mortgage) payments higher than 1/3 of net monthly income.
It is pretty effective at keeping the housing market vaguely in check.
Fell apart after COVID when a bunch of Parisians sold their little apartments and arrived in the provinces with a million in their pocket. The law has kept it level after that big jump though I think.
30% is a good target for keeping things balanced because theoretically youd spend 30% on housing, 30% on food and necessities and 15% for savings and 15% for fun stuff. But reality is for most people the required costs are much higher so you end up with most income going to housing and transportation
Damn, $200 sounds low, on the other hand 30% is a crazy share. I’m targeting 10-15% at most.
German here, 30% of income after taxes was the rule since a few decades, but in reality many people are closer to 50% now. How do you manage 15%?
EDIT: Oh, right, just saw the 8k income. That’s C-Level money here.
I am C-level and also German.
It’s a lot but certainly nowhere near C-level.
High risk, high reward I guess. Less social security, more immediate gain.
You misunderstand me, I’m German myself. That’s nowhere near C-level, at least not in the bigger corporations. 8k a month is not even 100k a year. Engineers can earn that.
8k after taxes? That’s like 16k before.
I was thinking before actually. There’s our misunderstanding. Never mind.
Wait what? Your rent is 10-15% of your income? What’s that like in absolute numbers?
Closer to 9% right now, 700 USD vs. 8k income after tax. But I generally don’t spend more than 1k regardless, it’s a hard limit for me.
The thought of 700USD for housing just gave me a boner
Do you work remotely? I’m finding it hard to imagine a high salary in a very low rent area.
Where I live, 8000 net would be 150k a year. That’s a high salary around here and rent is not less than 2k a month for a basic apartment for one.
Yes I do, but my office is pretty much exactly 40 miles from where I live, so I could technically commute if I had to. Takes me about 45 min to get there on a good day, with traffic can be 1:15h.
You have a pretty good deal! Do you live in a swamp or something? 😂
Nope, capital city of my State, in a recently built gated community (2018). Corner lot with nice garden and 2400ft², 4BR. 😎
Amazing. Nice one on finding the dream!
That would get you a student studio at best where I live.
In France the law does not allow rent (or mortgage) payments higher than 1/3 of net monthly income.
It is pretty effective at keeping the housing market vaguely in check.
Fell apart after COVID when a bunch of Parisians sold their little apartments and arrived in the provinces with a million in their pocket. The law has kept it level after that big jump though I think.
30% is a good target for keeping things balanced because theoretically youd spend 30% on housing, 30% on food and necessities and 15% for savings and 15% for fun stuff. But reality is for most people the required costs are much higher so you end up with most income going to housing and transportation
In fairness seems to also include all utilities (wonder if internet counts as a utility?)