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Poll: What % of your freelance income goes to your rent or mortgage (home/office space)?
Thread poster: ProZ.com Staff
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Tom in London United Kingdom Local time: 06:47 Member (2008) Italian to English
Only an American would ask
Dec 15, 2020
Christopher Wallace wrote:
I moved to the UK a year ago and I was spending about 10% of my freelance income on rent. But I want to buy a house soon so I'm not sure yet how much it will be. I opened this old thread to find out more about other's experience
We don't talk about money in this country, dear boy. (Spoken in an Alec Guinness tone of voice).
Christopher Wallace
WS McCallum
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kecen guo Australia Local time: 16:17 English to Chinese + ...
35% of my income goes to rent
Jul 28, 2021
35% of my income goes to rent. and another 25-40% goes to my save for a downpayment.
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Nadine Michelle Ducca Spain Local time: 07:47 Member (2021) Spanish to English + ...
Nothing...
Jul 28, 2021
New freelancer here. Started on June 1, so it'll soon be two months.
I live with my husband in his apartment, which is mortgage-free. I also have my own apartment, but my mother lives there and insists on paying the mortgage (I've talked to her many times, but she's adamant). If I had to pay it... It would be about 10% of my income at this moment. Considering I don't have any other big expenses (car is paid off, etc.), I'm really lucky and can focus on building my business! Before f... See more
New freelancer here. Started on June 1, so it'll soon be two months.
I live with my husband in his apartment, which is mortgage-free. I also have my own apartment, but my mother lives there and insists on paying the mortgage (I've talked to her many times, but she's adamant). If I had to pay it... It would be about 10% of my income at this moment. Considering I don't have any other big expenses (car is paid off, etc.), I'm really lucky and can focus on building my business! Before freelancing, my mortgage represented around 25% of my salary. ▲ Collapse
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I think you could really pay off the mortgage, as 10% of your salary is a perfect result. And in the end, your children will get this apartment, so I suggest you consider it an investment for the future. By the way, if you're still not in the mood to pay off this mortgage now, suggest that your mom do it through a reverse mortgage. If she fits the ... See more
I think you could really pay off the mortgage, as 10% of your salary is a perfect result. And in the end, your children will get this apartment, so I suggest you consider it an investment for the future. By the way, if you're still not in the mood to pay off this mortgage now, suggest that your mom do it through a reverse mortgage. If she fits the reverse mortgage qualifications and requirements, that would be the solution. That's how my dad paid off part of our big house by including his old apartment in the reverse mortgage. ▲ Collapse
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