I make $65000/year and live in a university town. I am conflicted about renting a bedroom in a 4Bed-4bath Apartment at $950 vs renting a bedroom in a 4bed - 3 bath at $600/month (utilities inclusive for both). In terms of location, the expensive one is more convenient than the cheaper one. Its also a lot bigger. I toured the cheaper one and although newly modeled, the rooms are really small and so is the living space. I don't have any friends to share apartment with plus not many friends around the town. I currently pay $900 and am happy compared to the last place which was also cheap. I don't go on a lot of trips and do not spend more than $500-$550 on grocery+outings per month. I have pending student loans of about $40K. I was planning on repaying atleast $20K or more by end of this year but could pay more if I go for a cheaper one. I am wondering if at this stage I should be thinking of saving the $4K that I could by renting a cheaper one. What is your opinion on this?
Edit: A question I have also been battling with is: If I do increase my quality of life by choosing the expensive one, would I be aiming for growth in terms of money more, and subsequently try to better myself financially, would I become complacent with respect of financial and career growth if I live in a cheap apartment thinking I am saving enough by suffering a bit? What's your take on such considerations?
Submitted May 28, 2023 at 02:42AM by ungentlemanly56 https://ift.tt/LBoxCp6
