Can i move out? vol. tired of living at home

joeblow

joeblow

43
23
Joined
Nov 19, 2012
Alright guys so I graduated May 2013 about a year ago. Been living at home, working and saving up money. I have a decent paying job 60k/yr. Bring home almost exactly 3400 a month. This doesnt sound too bad but I have a rack of student debt to pay. 1200 a month strictly on student loans. Plus I have cell phone, car payments, and car insurance bills. Im looking to move into the DC area and looking at the budget I made, I'll probably have around 400 to myself for going out and all the other unnessasary things if Im living as frugal as possible.

My question is do you need to save money? There are pros to living at home but being on your own is 100% better to me. Im single and dont have to spend any money on a girl but even so id be on a very tight budget. These student loans killin me man they aren't a joke. Looking for people with insight on similar experiences.

Im looking at 1200 a month total on rent and this would include utilities and all that jazz
 
Not even reading the op. you over 18? Then yea. It's hard, but men make it work.
 
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I make a little less paying $900/month in NJ. But it's doable.

Is $1,200 the lowest you have to pay for the loans?
 
1200 was what the default amount they told me to pay 6 months after graduation. Maybe i can get these monthly rates down. Not a bad idea considering ill be paying this for more than 30 years probably.. whats another 10
 
joeblow said:
1200 was what the default amount they told me to pay 6 months after graduation. Maybe i can get these monthly rates down. Not a bad idea considering ill be paying this for more than 30 years probably.. whats another 10
Click to expand...
You can definitely work with your bank/federal loan issuer to lower your payments. Just tell them you simply cannot afford the current monthly rate they have you paying. The less you pay now though, the more you will pay in interest down the road.
 
Bruh.
You're living the same life as me (as far as student loans go)

Just make it work, pa
-cut your expenses
-buy groceries 2x a month
-STOP EATING OUT

As far as student loans go...you gonna be paying them. Ain't no point in breaking the bank RIGHT NOW to try and speed up the term. Just pay the minimum of what you have to pay. Might want to change your repayment plan to "graduated" so it starts low and ends high. Helps you out at this moment

Are all of your loans federal? Or private? Sallie Mae got me by the balls, B
 
What are your plans in the next few years? If you can stand living at home, I would say just stick around for a few years, until you need to. Obviously, you don't want to be home forever, but if you're planning on just 3-4 years tops, I'd recommend it. Your wallet will thank you for it.

Personally, I'm in a different situation but I've stayed at home after graduating from college, and have been working. I'm glad I did it because I'm now planning on going to grad school, and I need all the extra money I have. Now, I feel I'm ready to move out, go to grad school, and move out for good after that. If you're in no rush then it'd be alright to stay put.
 
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Do a budget right now on NT and we'll help you out...

Every month you take home 3400 right?

Subtract 1200 for loans..that leaves you with 2200

What do you spend on your car and stuff?

Try and make your goal to save 4months rent (4,800) and an extra 2000 by the time you ready to move out

How much cash you got saved right now fam?
 
You could def do it but damn that $1200 towards loans is gonna hurt you though. You're gonna have to stick to your budget but like dude said save up some more so you can have a cushion. Just don't move way out and spend a lot of money/time commuting enjoy the city get a roommate.
 
How does 60K a year end up being $3400 a month?

That's 5 G's a month before taxes, they're taking out $1600 in taxes a month?

Maybe I didn't read correctly

Not too familiar with state income taxes, etc..no state income tax in TX.
 
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Depends on his deductions, if he has healthcare, retirement, 401k, Social Security, but yea that $3400 doesn't sound accurate. Seems like it should be a little over $3k
 
Aight here are the numbers im looking at: i have about 9k saved up. Been recently buying a lot of cloths and flyknits but i need to cut that out.

Income: Im taking home 3400$ a month.

Ill be paying 1200/month on student loans(wells fargo, sallie mae, nelnet) paying 255 on car payments, 140 on car insurance, 90 on gasvand 50 on cell phone bills. that totals 1645$ a month. These are the only bills i have right now.that leaves me with 1665$. Ill probably be spending 1200 total on rent which leaves 465$ for food, a gym membership, alchohol, women and fun for an entire month. I think i can make it work... I got to make it work
 
You're good bruh. You can go ahead and take the plunge. Just don't try to do it alone if you don't have to.
 
krazyblunts said:
6 rings MJ said:
Move out.. You're making 60k a year..
Click to expand...

not really 60k cause of his student loans. common misconception in salaries in todays youth

"i make 50k i can move out"
Click to expand...


joeblow said:
Aight here are the numbers im looking at: i have about 9k saved up. Been recently buying a lot of cloths and flyknits but i need to cut that out.

Income: Im taking home 3400$ a month.

Ill be paying 1200/month on student loans(wells fargo, sallie mae, nelnet) paying 255 on car payments, 140 on car insurance, 90 on gasvand 50 on cell phone bills. that totals 1645$ a month. These are the only bills i have right now.that leaves me with 1665$. Ill probably be spending 1200 total on rent which leaves 465$ for food, a gym membership, alchohol, women and fun for an entire month. I think i can make it work... I got to make it work
Click to expand...

Well there you go..
 
Is food the only bill you're going to be paying when you move out? Are you getting an apartment or condo or what?

That student loan payment is killer. How long til the loan is paid off?
 
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I work in md. And yes they are taking that much out of my taxes. I dont have a 401k setup and im still under my parents health care. Gonna look for my pay stub.. they do take out a lot on taxes but i think the percentage is lretty standard
 
OP $1200 a month isn't gonna get you much in DC. I have folks out there paying $1700 for rent monthly. Not including utilities like cable

Change your Nelnet payments to Graduated instead of standard. That may cut off 100 -150 of your payments right now
 
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I moved down to VA after graduating last year. I lived in DC for an internship and after 3 months I was fine not living in the city, but being 20 minutes out. There's way less hassle and tourists, plus the metro ride isn't horrible from NoVA. Grab you a roommate and you'll be fine. Paying $1700 down here for rent in a one bedroom is not the move you want to make at 23.
 
Damn op 1200 a month in student loans is crazy.. Makes me glad I went to the military.. Free college and they pay my rent I'm i. The norther VA area and it's not cheap living out here but I'm also working full time pulling the 60s a year also
 
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