Please I’m currently living in Abidjan paying rent of 25000cefa every month excluding t-fare to my place of work but I’m not happy living there due to some personal challenges, so I’m planning to get another apartment which can not be less than 35000cefa every including t-fare.I’m earning up to 180kcefa every month hope I’m not making a financial mistake?
Let's break down your situation, my dear reader. You are currently living in Abidjan and paying rent of 25,000 CFA every month, not including your transport fare to work. However, due to personal challenges, you are planning to move to a new apartment that will cost you at least 35,000 CFA per monthRead more
Let’s break down your situation, my dear reader. You are currently living in Abidjan and paying rent of 25,000 CFA every month, not including your transport fare to work. However, due to personal challenges, you are planning to move to a new apartment that will cost you at least 35,000 CFA per month, including transport fare. You earn up to 180,000 CFA monthly, and you are worried if this decision might be a financial mistake. Now, let’s dive into this like we’re sharing a plate of jollof rice.
Imagine you have a bowl of delicious Ofada rice, and you usually scoop a certain amount onto your plate every day. Now, one day, you feel like your plate needs a bit more rice to satisfy you fully, so you scoop a larger portion. But here’s the twist: what if the extra rice you’re adding starts to make you run out of Ofada rice too quickly before the end of the month? That’s a similar situation to what you’re considering with your rent increase.
Here’s the breakdown: When you move to the new apartment with higher rent, it’s like adding more rice to your plate. The increase in rent is similar to taking a bigger scoop of rice. However, your income remains the same, like the quantity of Ofada rice you have in your bowl. If the extra 10,000 CFA for rent, plus your transport fare, leaves you with less than you need for other expenses and savings at the end of the month, then it might not be the best financial move.
To make the right decision, you need to balance the amount you spend on rent with what you have left for other crucial things like food, transportation, savings, and unexpected expenses. It’s essential to ensure that your new rent amount doesn’t leave you short at the end of the month, just as you wouldn’t want to run out of Ofada rice before enjoying it fully.
So, my dear reader, before making the leap to the new apartment, take a good look at your monthly expenses, including the rent increase, transport fare, and other costs. Ensure that you still have enough to cover everything comfortably and leave room for savings. This way, you can enjoy your Ofada rice (income) without worrying about running out too soon.
Remember, your financial well-being is like a pot of delicious stew – it needs the right ingredients and balance to keep you satisfied. Take a moment to stir the pot and ensure everything is in place before you make that move to the new apartment. Stay mindful of your financial stew, and you’ll savor the taste of financial freedom and security.
See lessIt depends don't make the mistake of increasing your rent simply because you're unhappy with the current place. First ask yourself What exactly is causing the unhappiness, and will the new apartment actually solve it? If it will, and you can still save, invest, eat well, handle emergencies and meetRead more
It depends
don’t make the mistake of increasing your rent simply because you’re unhappy with the current place. First ask yourself
What exactly is causing the unhappiness, and will the new apartment actually solve it? If it will, and you can still save, invest, eat well, handle emergencies and meet your other obligations after paying for it, then move.
If the new apartment genuinely improves your quality of life and the 35,000 CFA covers your total housing/transport cost.
You’re earning 180,000 CFA monthly, so 35,000 CFA is about 19% of your income, which is within a reasonable range.Money is important, but you shouldn’t sacrifice your peace of mind just to save a few thousand CFA.
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