I'm 22, graduated in December, and i'm starting my first job at a bank on Monday! I had trouble finding a job for so long because of my initial location...my mom lived in an area with no nearby public transportation. The only jobs closeby were just low level retail/food jobs. The uber cost to even just get work or grab a quick bite (homedepot) was $10.
Well i quit that job moved down south (Charlotte NC) with my grandparents, and they live in an area with a good system to get uptown as well as a good bus system.
On the 10 year plan my minimum payment is $400. Yes i know there are other plans for lower payments, but who wants to have 40k of debt hanging over their head for 20+ years?
For the past 4.5 years i've been in college, using public transportation to get around no problem, i'm used to it, and in a way its nice to know i can just walk out my door with a back pack on, and be on my way. My mom had her car repossessed one summer and nobody had a car. Still, because of the area we were in at the time, everything was good as far as moving around the area.
The hard part is going to be explaining to her that i'd rather just pay my loans down as quickly as possible than worry about paying for a car. The average monthly costs of a car are roughly $300-$400...this doesn't include any repairs, car notes, or tickets you might have to pay for.
I have a budget already made paying $400-$500 is manageable. I have roughly $320 left even after saving/investing and all other costs. It feels good knowing i can basically accelerate my payment by forgoing something to unnecessary (depending on your area).
The only thing i'm not looking forward to is explaining to my mom why i don't want a car. She's either gonna say taking out a loan isn't that bad, that my dad will pay for car insurance, and that i can pay at a lower rate.
In the meantime, since i'm living near the city, i think i'm gonna save up for a used tomos or honda ruckus moped and use that for my trips to anywhere close by.
I'm actually excited to see how the car-free life works in the real world. I just hope i don't forget how to drive by time i can actually afford a car lol.
Submitted June 09, 2018 at 10:11PM by Naima_ https://ift.tt/2sFTyU7
