So I just graduated college in December it took me 5.5 years because I was a transfer student. I got a job and started mid February I gross 65k a year as an hourly employee getting paid bi weekly. My take home pay per pay period after taxes is $1821 so my total yearly net pay after taxes would be about 47,000 .
I have about 35,000 dollars in student loans divided into about 5 separate loans I think they all have about 4 to 5 percent interest rates and no other major debt (Thanks Mom and Dad).
I had to move to a new city as the job offer was located there and my monthly rent is $1250, I'm also spending about $40 dollars a month on internet. I don't know what the utilities will be yet because I haven't been here for a whole month. I still need to procure renters insurance per the lease agreement.
47,000 - 15,000 (rent) = 32,000 total yearly after rent.
I have about 1800 dollars in savings and my student loan is still in grace period. I have a car (econo box nothing fancy) that I am responsible for maintenance which I do myself and gas as I am still on my parents insurance company which I use as my daily driver and then I also have a beater car that I use to move stuff its a station wagon. (Also on my parents insurance).
My question here is how aggressive should I pay back my student loans? I do want to reward myself with a purchase of a motorcycle (budget < $1000). I could pay probably about 1300 dollars a month into the student loans and continue to live like a broke college student and pay off the entire loan in about 2.5 years. I also would like to not burden my parents on there insurance anymore but they haven't brought up the topic yet. I also should be getting a decent tax return this year ~$800 or so. And I also need to purchase some more dress clothes as I only have about 3ish dress appropriate clothes for work. This would only entail another pair of dress pants as we can wear jeans on Friday and a polo shirt which I think I can swing. I spent the first couple of pay checks that I had on past CC debt and the initial fees with acquiring the rental property. I still want to enjoy life but a solid year of living like a monk is also acceptable in my book.
Any help would be appreciated as I don't know what I am doing.
Submitted March 24, 2019 at 10:12PM by VisibleTank https://ift.tt/2TXXkHU
