I’m a 22 year old male. I just graduated college in May and have been working a ~70K job that I started a little over two months ago. I currently live with my parents about an hour away from my job and take the bus to work everyday. I honestly don’t mind the bus ride all that much because I can just sit and browse reddit. I currently pay no rent living with my parents. If I were to move out and go completely independent, then I estimate my maximum monthly expenditures at around $2400 per month. Living with my parents, my total monthly expenditures is about $600-700 (food, clothes, fun). My after tax pay is about $4400 per month. Living with my parents allows me to save so much more and I am not completely miserable but a part of me really wants to go out and be dependent. I want to have girls over. I want my own apartment with my own furniture and my own belongings. I want to live downtown rather than in the boring old suburbs. Obviously, from a financial standpoint, living with my parents is the best option but when should I justify having “saved enough” to go out on my own? I’ve been telling myself that once I get 6 months of emergency fund ($14400), then I can move out. I’m currently at around $6000 (been going slow because paid off small credit card debt from spending during the summer before the job and I’m also currently maxing my 401k contributions). Also, a plus is that leases are cheapest in the December-January month which is about when I should be able to get to $14400. So I could move out in the next 2-3 months. Is this a solid plan or am I being too eager? It’s not that bad living with my parents but I’m sure there are some of you guys that can understand where I am coming from here. Should I move out once I’ve saved 6 months emergency or stake it out and focus on saving? I feel like this is such a crossroad in my life right now.
November 04, 2019 at 06:21PM
