I just finally moved out of my house at 25 in hopes that I can finally be independent and grow up and I love it. I love having freedom to do my own thing and I love the ability to have company over :).
In any case, I moved in with a long time friend of mine in July and I have been miserable every since. He's incredibly hard to live with and I'm not saying I'm perfect but he complains and micro manages everything. Its like I'm living at home, but worse. Financially, the rent is pretty average and I pay under $600 a month to live in a decent and upcoming area. The apartment is also nice. Rent is about 22% of my monthly income but I still find myself struggling to buy groceries sometimes after all my student loans and savings are accounted. I have found myself having to use my credit card to buy groceries sometimes. Nonetheless, I manage to get by and I have managed to get a nice little nest egg in my company’s 401K and my own IRA. I am paying my debt off slowly here.
So here is my dilemma: I have $3K in CC debt and $70K+ in Student Loan debt. The credit debt has been weighing on me for a long and it’s affecting my personally. For as good debt it and for as much as it’s needed today, I hate it. I hate knowing that I have this “loan” ON TOP on my unbearable student loan debt. I have been in credit card debt for 3+ years and I just want it to be over.
I can either:
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Stay at the apartment I don’t like and slowly pay off my debt while enjoying my freedom but deal with a bad roommate and sometimes struggle to buy groceries.
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Move into a new really nice apartment (referred by my friend) for $1000 a month (35% of my monthly income) and have complete freedom and really enjoy living by myself. I can have company over and parties, etc. It’s a really nice place and I would love to live there but I would be sacrificing a lot and my debt payoff would significantly slow down.I would have a hard time saving for retirement and buying groceries.
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Move home and save all my money. Debt reduction would be pretty exponential but I would lose the freedom of living on my own. Don’t get me wrong, I love living at home and begin around my family, but at 25, I need to start being more independent.
Help?
Submitted September 26, 2017 at 11:38PM by Jimmy-Neutrino http://ift.tt/2xKkXrp
