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If the apartments on your list are located in uber-expensive rental markets, getting a roommate might be something worth considering.
Even if you hate sharing, rooming with someone else could save you hundreds (or even thousands) of dollars.
While you’re figuring out how much money you can set aside for rent, it’s important to think about your current financial situation and how much you’re getting paid.
So if you’re hunting for a new apartment, it’s a good idea to take a look at your budget to see what you’re already spending on bills, food, entertainment, transportation and insurance.
It’s best to find a new spot that will allow you to live comfortably, pay off your debts and save a portion of what you’re bringing home.
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Where you want to live also plays a key role in determining how much rent you can afford.In fact, getting your own place might be completely out of the question.Landlords in places like New York City often want tenants whose annual salaries are at least 40 times the monthly rental rate.That means that in order to land an apartment with a monthly rent of ,500, you might have to make at least 0,000 before taxes, unless you can find a roommate to split the cost or a guarantor who can pay rent on your behalf if you’re running low on funds.If you’re planning to crunch some numbers before you begin viewing units, keep in mind that your budget for rent will need to be based on the amount of money you’re actually getting paid after taxes are withheld.However, I believe that giving a promotion frequently is a better way to keep employees motivated.For many people, money is not as important as other aspects such as holding a high position or being a key member in a company.Admittedly, money plays a crucial role in our modern life and most people work hard to earn a higher salary.For example, a lot of employees, who work at Google Inc answered in a recent survey that they were more likely to work more efficiently when the company gave higher prize such as money or commissions.For instance, despite the high salary that talented engineers could get from Tesla, they decided to quit their job and work for Apple Corporation where they could get promoted to senior level positions.So, a lot of large companies are now offering high position as an effective way to retain the motivational levels of their employees.