Is there a general rule for how much I should be spending on rent? I am looking into moving and the additional rent (on top of what the government pays) is a substantial amount of my take home pay

Great question, Isaac! Here’s a simple way to think about how much you should spend on rent: • There is a common rule called the "28% rule." This means you should try not to spend more than 28% of your take-home pay (the money you get after taxes) on rent and housing costs. • If the government is helping pay part of your rent, you only need to look at the part you pay yourself. So, add up just your part of the rent and see if it is less than 28% of your take-home pay. • If your rent is much more than this, it can be hard to pay for other things you need, like food, clothes, and fun stuff. Action steps: 1. Figure out how much money you take home each month (after taxes). 2. Multiply that number by 0.28. That’s the most you should try to spend on rent. 3. If your part of the rent is more than that, see if you can find a less expensive place, or look for ways to get more help. Remember: It’s important to have money left over for other things you need and want. Try to keep your rent low enough so you don’t feel squeezed every month.

General rules are all bad. Needs to be based off your financial plan or else you have too many assumptions