Can I rent a $3,000.00 a month Apartment on 100k Salary?

Question

I earn $100,000.00 per year Salary at my job and want to move into a better Apartment.
I found a great apartment online that I can rent for $3,000.00 per month.
Can I afford a $3,000.00 a month Apartment on 100k Salary?

Answer 1

You possibly could. After you pay your rent you should have around $5,000.00 per month leftover.
But just because you can afford it doesn't mean you should go for the $3,000.00 a month apartment.

You should look around for cheaper apartments if there are any available and save the rest in a savings account.

You should always try to live below your means if possible.

You should always have a good enough of a cash savings in the event you lose your job and income.