Saturday School: Here Is How Much Rent You Can Afford

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Couple moving
Yuriy Maksymiv /

Many of us fall in love with an apartment or the neighborhood surrounding it. When this happens, we might be tempted to rent at just about any price. But love is blind, and jumping into an apartment lease with your eyes closed can have major financial consequences.

So, before you begin shopping for a rental, do some very basic math. Watch this video from Bank of America to learn a simple calculation that can clarify how much rent you can afford.

Do you have other advice for readers searching for a rental? Share it in comments below or on our Facebook page.

Get smarter with your money!

Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.