What percentage of my monthly income should I be spending on my home rental?

What percentage of my monthly income should I be spending on my home rental?
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1 Answer

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The general rule is you should spend no more than half of your income on rent. The better you are doing financially, the smaller percentage of income goes towards your house/apartment.
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The average monthly expenditure of a family was Rs. 2200 during the first 3 months; Rs. 2250 during the next 4 months and Rs. 3120 during the last 5 months of a year. If the total savings during the year were Rs. 1260, then the average monthly income was: a) Rs. 2605 b) Rs. 2680 c) Rs. 2705 d) Rs. 2745 e) Rs. 2595

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