09-27-2022, 05:37 AM
I'm having trouble figuring out exactly how much I should be spending on new furniture as I start a new job in a new city and move into a new apartment. I've come up with a checklist of a few dozen furniture and utensil items to purchase eventually (ranging in priority from "I need this" to "this may come in handy some day"). How do I figure out how much to spend on furnishing? Should it be based on some percentage of my savings rate? (Over what period?) Is there some hard amount that is a good rule of thumb?
Let's say I make a little over $100k (living in the bay area though), no debts and more than enough liquid to pay over 1 year's rent. Assume I have no prior furniture.
I've filled out some budgeting worksheets and excluding furniture expenses, I should be able to save $1k-$2k per month, though most likely more once I'm able to rent out the other bedroom in my apartment. One goal I had was to save up enough to put a down payment on a house after 1-2 years. However, after seeing the housing situation in the bay area, I'm starting to question whether I want to own a home so soon. Either way, I am more inclined towards saving money.
Also, a few more pointed questions: what is a good price to pay for a queen mattress? (I found one I liked for $550, is that too much?) How about for a sofa? I'm not sure how much location matters but if anyone has recently furnished their home/apartment in the bay area, i'm curious to know how much you spent.
Let's say I make a little over $100k (living in the bay area though), no debts and more than enough liquid to pay over 1 year's rent. Assume I have no prior furniture.
I've filled out some budgeting worksheets and excluding furniture expenses, I should be able to save $1k-$2k per month, though most likely more once I'm able to rent out the other bedroom in my apartment. One goal I had was to save up enough to put a down payment on a house after 1-2 years. However, after seeing the housing situation in the bay area, I'm starting to question whether I want to own a home so soon. Either way, I am more inclined towards saving money.
Also, a few more pointed questions: what is a good price to pay for a queen mattress? (I found one I liked for $550, is that too much?) How about for a sofa? I'm not sure how much location matters but if anyone has recently furnished their home/apartment in the bay area, i'm curious to know how much you spent.