ok, first off, i really need to move out within the next few months, im 26 and still living home with my parents. I would have moved out a long time ago, but i live on long island, rents here are ridiculous, the only person who im willing to move in with is my bf, who wont be able to move out of his parents house for another year or so (he just finished school and wants to save more)
Ok, here are my expenses, Rent=800, food=150, cell=45, car insurance=165, car payment=250, student loan=122, maybe 80 to 100 for fun stuff....plus gas is at least 120 a month.
Well i only make about 500 a week. so about 2000 a month. the thing is, i do have $20k in my savings. How much more should i save before moving out ? I really need to get out, my parents are up my *** and treat me like a kid despite the fact that i am a responsible young woman. Any opinions?
2007-09-25 14:03:43 · 4 answers · asked by hersheybar99 1 in Business & Finance ➔ Personal Finance
im a social worker keep in mind. It sucks that social worker salaries suck. I am hoping on a getting a raise in the next few months though as upon hire, i was told it would be negotiable
2007-09-25 14:20:18 · update #1
Have you considered moving to a less expensive region of the country? 20k is an excellent start, that is wonderful that you have saved that much, especially with a social worker's salary. You could always pay off the car loan and some of the student loans with the 20k, and that would free up at least 250/month. Even with all those expenses, it seems like you have enough.
2007-09-25 14:29:37 · answer #1 · answered by love 6 · 0⤊ 0⤋
At 26 , you should be making more than $2K a month but it is enough to cover your expenses .
You need to apply for better jobs and get a 2nd job to start saving more for a house down payment some day .
26 is toooo old to be in the parents house unless you were crippled in a car accident or something .
26 & able bodied IS a KID if you are still at mommys house .
I left at 18 and cannot fathom how people stay longer .
I am surprised they let you stay that long ,
You are paying something for living costs and not totally milking the parents , aren't you ?
Totally milking them would be so rude . . .
>
2007-09-25 21:11:39 · answer #2 · answered by kate 7 · 1⤊ 0⤋
Have enough in your savings to live off of if for some reason you cannot work for 8 months or so and put it in a CD account or something short term that gives you a higher interest but doesn't lock your money in for like 10 years....like a safety net. Then, once you have that saved...move out...live...and if you have extra after all your expenses, start investing your money...don't leave 20k doing absolutely nothing in a savings...make your money work for you!
2007-09-25 21:08:56 · answer #3 · answered by dianah 4 · 1⤊ 0⤋
You've chosen a field that is high in psychic gratification and not so great in pay, but you'll make it work, if you want to. Generally, someone in your field doesn't have to worry much about being laid off, so $20,000 in reserve should be fine. Your income is, after taxes, almost enough to pay for your expenses. See where you can skimp a little, earn a little more, and go for it. You deserve it and good luck.
2007-09-25 21:35:22 · answer #4 · answered by HH@20 2 · 0⤊ 0⤋