Finding a residence to live in comes with a slew of issues. A few factors to consider when deciding where you want to live include the location, size, facilities, landlord, and so on. But first and foremost, whether or not you’ll be able to pay the monthly rent should be taken into account. When it comes to determining what rent you can afford, things may get a little confusing—especially if it’s your first time renting a home, your financial condition has recently altered, or you’re just easily overwhelmed by money decisions in general.
Creating the right personal rental budget requires considering a number of factors, including your financial resources and personal preferences. We spoke with behavioral finance professionals and house experts about the most effective methods to develop a customized rent budget in order to break down all these issues.
50/30/20 rule over the 30% rule.
Although not everyone follows the same budgeting rule, many people believe that the 50/30/20 approach is superior to the 30% rule when it comes to popular rent-related budgets. The 50/30/20 rule is a budgeting guideline that advises dividing your money three ways: 50 percent to necessities (such as rent, food, utilities, medical bills), 30 percent to desires (such as “just because” shopping or dining out) and 20% to savings and debt payments. The 30 percent rule, on the other hand, is based on the theory that you should spend no more than 30% of your income on rent—but it excludes a lot of individuals and concerns.
To begin, the 30 percent rule is inspired by a middle-class view and “not everyone can spend less than 30 percent of their income on rent if they have a low income,” according to its creators. In certain areas with a significantly higher cost of living, spending less than 30% on rent might be tough. In comparison, the 50/30/20 rule allows a little more wiggle room and expands the available budget choices. “When you think about the 50 percent bucket, it just gives you a little bit more flexibility to pay 35% or 40% of your income for rent if that’s what it takes,”
Adjust the budget to your particular circumstances and requirements.
Budgets, like the 50/30/20 budget, shouldn’t be treated as hard and fast rules, but rather as a flexible scale. some like to advise their customers to create a budget that reflects both their financial capabilities and their values. So, if a customer is passionate about living in an atmosphere that is comfy or luxurious but finds a dream rental that will push them over the 50 percent threshold (with utilities, debt payments, and other necessities included) with them, some suggests they consider scaling down. Instead, we might suggest that they scale back their expectations (the 30 percent rate). Adjusting your spending to maintain a certain lifestyle is pretty common. For example, Someone who is very passionate about traveling and spends money on experiences may have to choose between a low-cost rental and maintaining the balance.
The most crucial aspect, though, is to adjust your budget to account for your costs—not just pay outside your means and hope for the best.
Consider all of the hidden charges.
Whether you budget or not, it’s crucial to keep in mind that rent isn’t a fixed expenditure. The expenses of housing, food, and transportation may all be affected by utilities such as electricity, gas, water, and internet. When looking for a rental, be sure to inquire about any utilities included in the rent and the expected monthly costs of those that aren’t.
There are also hidden expenses to keep in mind, such as the security deposit and the cost of moving. In some states, landlords can charge three months’ rent or more as a one-month’s-rent deposit. Apart from the deposit and first month’s rent, you’ll also need to consider how much it will cost you to move. For example, do you need to pay for movers, hire a moving van, or purchase a variety of goods for your new apartment? These are not recurring monthly expenditures, but they should be included in your overall rent budget since they might deplete your personal funds.
Consider the long-term effects.
Landlords and management firms offer a variety of incentives to entice people to live in their properties, but they seldom reflect future costs. Some individuals get thrilled when they receive two months’ rent free for signing a lease to a new house, but then the year ends and their rent rises by another hundred or $200. If you obtain a rent reduction, make sure you can afford the full amount in the future. It can be very costly to keep moving year after year, so keep the future in mind.
It’s also critical to pay attention to the fine print when signing a lease and look into the opt-out clause. If you’re not sure how long you’ll be able to stay in a location, inquire about any penalties for early departure and attempt to negotiate a provision that will prevent you from having to pay excessive fees.
Another aspect of planning for the future is to consider what you’ll save in the long run. It might make you happy now, but it may not set you up for a more comfortable existence later on if you spend your savings on a goal apartment.
Don’t compare yourself
Your friend’s rent budget may be considerably different from yours, and that’s OK. It’s a mistake to compare your rent budget to that of a friend since, first and foremost, everyone has unique financial situations, but also because not everyone will be completely open about how they pay their rent. Many individuals receive financial assistance from their parents, particularly youngsters. So, if you’re like me and had to finance your own way, you may be wondering what your friends are doing right and what you’re doing wrong, and you might not be doing anything at all wrong. They may simply be receiving a small amount of money each month to help pay their rent and provide them with some more financial breathing room. There’s nothing wrong with either of these scenarios, but it emphasizes the necessity of devising a rent budget that is suited to your own circumstances rather than someone else’s.
The Real Deal on a Four-Day Workweek
For many people, it’s difficult to imagine a work week that doesn’t begin on Monday and end on Friday. For decades, millions of people across the world have built their week around Monday through Friday. However, as the pandemic continues to change Americans’ attitudes toward work, many are reconsidering how they may balance work and life.
After all of this research, I discovered that the concept of a five-day workweek was first proposed as early as the 1860s by many labor organizations in the United States seeking to pass legislation for an eight-hour working day. The Fair Labor Standards Act was amended in 1938 to limit the workweek to 40 hours per week, which resulted in the Monday through Friday, five-day work week that is well known today, according to Business Insider.
Despite the passage of this law, many individuals are still compelled to work more than 40 hours per week. According to a Gallup poll conducted in 2014, the typical salaried employee put in around 49 hours each week. Furthermore, according to Vox, workers are still clocking more than 40 hours per week even during the COVID-19 epidemic. Many people feel that achieving a work-life balance is difficult because they are either working from home or doing a hybrid arrangement that includes both in-office and at-home work.
A four-hour workweek might be in your future
In the previous decade, businesses and nations all over the world have started to reconsider the five-day workweek. More than 2,500 Icelandic employees were involved in a research in 2015 and 2019 that introduced them to a four-day workweek rather than the usual five-day week. The study’s findings suggested that those who took part in it reported feeling less stress and a better work-life balance, while their employers claimed that their productivity remained the same or improved. Many other countries around the world, such as New Zealand, Singapore, and Spain, subsequently looked into mandating a four-day workweek as a result of these studies. According to The Guardian, several American businesses, including Bolt Electric and Panasonic Electronics, are already adopting the four-day workweek. Microsoft, which offers a four-day workweek for its workers in Japan, states that the four-day workweek has boosted output by 40%.
Although many individuals tout the advantages of switching to a four-day week in place of a five-day one, the United States government has yet to push through any legislation establishing such a schedule in the country.But this may soon change, as more effort is put into protecting employee rights. The Great Resignation, which has seen millions of Americans leave their jobs in the past year, and the current movement for worker rights that has necessitated wage increases in many states have the potential to push forward further workplace reform in the near future, according to Vox.
The Best Valentine’s Day Gifts for Every Stage of Your Relationship, According to a Matchmaker
Rori Sassoon, a celebrity matchmaker and relationship expert, reveals the ideal Valentine’s Day presents for every stage of your love affair.
Valentine’s Day might be a significant event, especially if you’re new to each other. If you’re stumped as to what to get your lover this year, we’ve got you covered. Rori Sassoon, a celebrity matchmaker, offered us her top V-Day present ideas and you’ll want to check them out.
“When shopping for a Valentine’s Day gift, keep in mind that the gift is as big of a deal as your partner places on gift giving,” Rori shared. “Maybe they’re a fan of quality time over a luxury gift. Take that gesture of love and perhaps put it toward a shared experience. Most importantly, while you might strive to be the ultimate gift giver, stay within your means. If you have anxiety about being able to afford something over budget, rethink how you can find a similar item at a price point you’re comfortable with.”
Choosing the ideal present for your spouse on Valentine’s Day may be a difficult task, depending on where you are in your relationship. After all, if you’re just getting acquainted with someone, the presents you give won’t be at the same level as they’d be after a year.
Rori offered some advice on the finest types of presents to get your partner for each stage of your relationship, and we compiled a list of pointers to assist you get started.
It is good to note to learn your partners love language to help know what is the best gift to give to your partner.
Just Started Dating
When you’re starting to date someone around Valentine’s Day, you want to make a point of demonstrating that you care without being too cheesy (if that’s the case). Give them a card and a trifle. You’re indicating that you’d like to continue seeing them without unintentionally making them feel overwhelmed. Have a wonderful Valentine’s Day. However, keep in mind that there’s no need to be excessive—you’re just getting to know this individual.
We’re Not Really Strangers Card Game – 100% Realism Expansion Pack
This 50-card expansion pack for the wildly popular We’re Not Really Strangers Card Game was created for first dates to the “What are we?” phase of the relationship. It comes with all kinds of questions you’ve been dying to ask like “When’s the last time you ghosted someone and why?” and “What was the first thing you you noticed about me when we met in person?” It’s a great way to get to know your new love interest.
You Be My Valentine Pop-Up Card from YouBeBeloved is a lovely expression of love.
Lovepop has a variety of fun pop-up Valentine’s Day cards that are perfect for newly dating couples like this “Whale you be my Valentine?” card. All the options are really fun and colorful. You’ll definitely put a smile on their face.
We’ll See Where This Goes – Casually Dating
If you’re in a relationship or anything more casual, avoid wrapping gifts. Instead, create the ambiance for a raunchy night — lingerie, candles, romantic music, and maybe a sex toy or two. On this lovey-dovey day, capitalize on your physical attraction to each other. There’s no need to spend a lot of money on someone you don’t know if there’s going to be a long-term connection with. Have fun!
Tease Or Tumble Tower Game
The Tease Or Tumble Tower Game, which is simply a more grown-up version of the same thing, may be played by adults. Each brick has a hot question or activity such as “Remove an article of clothing” or “Massage your spouse for one minute.”
Box Of Dares
This box of challenges was created for couples at all stages and is especially enjoyable for individuals in a “where do we go from here” scenario. It includes 100 cards with dares that range from flirty to erotic, along with a box of 100 stickers.
Dating for at Least Six Months
When you’ve been dating someone for six months, it’s rather obvious that you care about each other. You want to give a gift that demonstrates the kind of giver you are. Gift-giving is one of love languages, and you should attempt to combine equal measures of sexy, fun, and thoughtful into your present. Regardless of the item, keep quality first! Consider a private spa trip or a concert at six months. Shared events will just bring you closer together.
Amorous Arcana: Valentine’s Tarot Lesson & Reading
What’s in store for your relationship in the future? Let the cards be your guide. This Valentine’s Day tarot lesson and reading will stay with you and your spouse forever. You’ll have the opportunity to do a tarot reading while Holly, the instructor and reader, assists you in interpreting the cards. If you already have a tarot deck, the procedure alone costs $25. If you don’t have one, a package including a deck and guidebook can be purchased for $50.
Tickets to a Concert or Event
If you want to give them something they’ll like, get them a ticket to a game, concert, or other event. It will be a shared experience that both of you can enjoy.
Committed for at Least One Year
If you’ve been with someone for a year, there’s always that lovely bright ring to it. You’re likely in love, and you see a hopeful future together. Purchase an outfit together for Valentine’s Day on a shopping trip. If you have a partner who is clueless about fashion, assist them in finding some trendy shoes or a designer belt.
Custom Couple’s Sweatshirts with Embroidered Roman Numeral Date and Initials
If you’re looking for a fun Valentine’s Day present for your significant other, consider getting them a pair of matching sweatshirts from Etsy. You may personalize it to include your initials, a date, and a heart. The New Bedtime Storybook by Leachco has a selection of colors ranging from black to white, light pink, navy, and gold. It’s a must-have for couples that have been together for at least one year.
Vertical and Horizontal Spotify Code Couples Necklace
What’s the song that holds a special meaning for you and your significant other? This personalized Spotify code necklace will always keep it close to your heart. The two necklaces are made of copper, and they’re ideal for keeping your favorite song on repeat. They’ll contain the Spotify code to your song so you can quickly scan and play whenever you want. You have the option of receiving them in rose, gold, or silver.
When you’re in a long-term relationship, you’ve celebrated many Valentine’s Day occasions. You know what your partner wants at this point. If your partner likes jewelry, add something to their collection. If your partner can’t say no to a watch, give it to them. Regardless of the price tag on the present, make sure to include a thoughtful note. Words of encouragement might be the most appealing turn-on. Your fire never has to go out!
Personalized Dinner Spinner Date Night Idea Board
Have you ever found yourself in a situation where it takes hours to figure out what to eat because one spouse is unable to make up his or her mind while the other is great with “whatever”? The Etsy-made personalized dinner spinner board can assist you with this. It’s completely alterable, and you can pick your own names and favorite restaurants. You’ll be wondering why you didn’t get it sooner once you have this!
Personalized Ticket To Love Box
If you enjoy the concept of love coupons, this outstanding personalized ticket box takes it to a new level. You may pick from 40 ticket themes ranging from “Free Back Rub” to “clothing-optional adventures,” and the box can be personalized with your partner’s name. It’s both amusing and distinctive.
The ideas are endless, but really the key is the more thoughtful the gift the better. As well as a gift that makes your partner feel like you really know them. Getting them a gift that is simple that you know is something related to what they like can be the meaningful.
Solana Slides 17% to Leading Losses as the Crypto Market Plunges
The cryptocurrency market fell on Monday, following a decline in the stock indices in the United States.
On Monday, the crypto market dropped significantly as U.S. stock index futures plunged by nearly 17%, according to CoinMarketCap. Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to about $33,700 at the time of publication after rising more than $4,000 in Asian morning sessions.
The price of Solana’s SOL asset was down 17%, trading at $84.17, according to data from analytics platform CoinGecko. SOL was one of the year’s top performers, increasing from $3 in January to over $259 in November. The price of Bitcoin has dropped by more than 66% from its all-time high and almost 42% from last Monday’s.
Ethereum and the Cardano, Polkadot, and Binance Coin tokens all suffered losses of nearly 10% in the last 24 hours. DOGE, the currency of Dogecoin, fell 7% in the same period among the top ten cryptocurrencies by market capitalization.
Over $240 million in liquidations occurred since Asian morning hours, according to data from analytics tool Coinglass. Liquidations occur when exchanges are unable to meet margin demands because of a margin shortage. Following a few swings in the green, we witnessed several false breakouts and retests.
Bitcoin futures markets have liquidated over $63 million in assets since their inception, according to figures published by Cboe. Ether futures surpassed this, with more than $64 million in liquidation losses. BTC futures experienced significantly fewer losses, with SOL and XRP futures both losing around $5 million in liquidations.
The ratio of bitcoin traders who were long or betting on higher prices reached nearly 81 percent, according to several technical indicators, as bitcoin was seen as being oversold and a price rise was anticipated.
Meanwhile, others predicted that the market may fall further.
“Alarmingly, the sharp reversal on Friday was not followed by any meaningful bounce,” said Alex Kuptsikevich, senior financial analyst at FxPro, in an email to CoinDesk. “Some observers point out that this is a worrying signal, suggesting further market declines, as we have not seen a final capitulation. Without capitulation, the markets will remain with an overhang of sellers.”
“Events are developing in a bearish scenario, so far broadly repeating what we saw in 2018 in terms of overall sentiment,” Kuptsikevich said.