Rent Affordability: What You Can and Can`t Afford
Using the materials provided, determine what you can afford to spend on rent each month.
1. Calculate your current net income (after taxes). You can find your net income on your LES
Total pay and allowances- taxes= net income ______________________________
2. Calculate 30% of your net income.
Net income x .30= _______________________________
3. Enter the current BAH rate for the base zip code you are assigned to: _________________________
4. Using PCSing.com, find a home that fits your families needs.
What is the monthly rental cost ______________________
Are your utilities included in this amount? _________________
Remember these guidelines:
Your total amount of rent and utilities should nto exceed 30% of your net income.
BAH is a good guide for totaly housing expenses, because anything over BAH comes out of pocket.
Make an honest assessment of your cash flow. There may be other things you would like to do rather than put most of your budget into payign rent.
Based on the guidelines and calcumations above, what can you afford to spend rent? ________________________