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Fatumas Voice Latest Questions

  • 2
Don 'Caleb' Nyagudi
Nyati

What percentage of your gross monthly income do you spend on your house costs (Rent)?

Don’t spend more than 1/3 of your gross monthly income on house costs( Rent). For instance, if you earn a gross of KES 30,000 in a month, spend KES 10,000 or less on your rent. The rest should be directed to consumption spending and saving.

The 30% rule was first established by the USA government in the 1960s as part of public housing regulations.

Though flawed ( doesn’t account for inflation and rising rent prices) experts upto today think that it’s a reasonable benchmark and advise people to follow it.

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Best Answer

  1. I spend about 26% the rest cater for other expenses and savings.

    I spend about 26% the rest cater for other expenses and savings.

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3 Her Answers

  1. I spend about 26% the rest cater for other expenses and savings.

    I spend about 26% the rest cater for other expenses and savings.

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  2. With a gross salary of Ksh28,000 , I spend Ksh. 6000 on rent . The remaining amount cater for consumption, fare and savings. Basically, it's about 21.4%.

    With a gross salary of Ksh28,000 , I spend Ksh. 6000 on rent . The remaining amount cater for consumption, fare and savings. Basically, it’s about 21.4%.

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  3. I spent less than 5k on my rent. I promised myself not to live in luxury in a house that's not mine. I'd rather save up and build my own home someday

    I spent less than 5k on my rent. I promised myself not to live in luxury in a house that’s not mine. I’d rather save up and build my own home someday

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1 Him Answer

  1. I use 25 % of my gross income to pay for my house reny. The remainder is for food, travel and savings. This is save because i am still below the 30 % rule.

    I use 25 % of my gross income to pay for my house reny. The remainder is for food, travel and savings. This is save because i am still below the 30 % rule.

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1 Answer

  1. It depends on a number of factors. There is a limit on the lower side to what someone can pay as rent especially in a city like Nairobi

    It depends on a number of factors. There is a limit on the lower side to what someone can pay as rent especially in a city like Nairobi

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