Hello r/personalfinance
Longtime lurker here, and finally decided to /really/ get my stuff together and start buckling down.
More about me: 22/f, fresh out of college, making $15/hr at a tech company with great benefits, stock options, etc.
I’m currently engaged to 24/m making the same amount in the construction sales industry.
Although we are technically making a living wage, we’re getting exhausted paying for rent. We live in Miami, Florida and pay about $1100 a month (including utilities) for a 1 bedroom in a really sketchy neighborhood.
We’re just tired. After contributing to joint and individual savings, we don’t have much wiggle room.
We contribute around $200 a month to a joint savings account (ally bank), around $200 a month each to our individual savings accounts, and I’ve just started using Qapital. Additionally, I contribute 5% of each paycheck to ESPP.
Not having a substantial savings/emergency fund/home buying fund scares me.
Quite frankly, it’s intimidating. We don’t come from rich families, and living in Miami is really difficult. Arguably, Miami is the most difficult city to afford to live in the US.
We’ve made the decision to move back to my parents house, since they have a few spare bedrooms. They’re happy to have us, and really proud we’re being fiscally responsible. And it really brought it home when I calculated home much we’ve spent in rent over the years (could’ve had a down payment for a house). Also, we’ve set a solid date to move back out, so we’re not just moving back in without a game plan.
But, a part of me is disappointed in myself for having to move back in.
Do you have any tips for us moving forward? Hopefully, any validation for moving back in with my parents? Any advice helps!
Submitted July 02, 2018 at 10:04PM by aurology https://ift.tt/2lPfxUz
