So I am a 22-year-old who will be graduating from college in May. I am from the Northeast, but I will be living in a city in a Southern state with no income tax. I will be making $60k a year in base salary with a bonus of up to $10k. I have very little overhead as I will be on my parent's health insurance until I am 26 and they will be paying for all my car costs and phone plan (I am very grateful that they are doing this for me, however, I want to help them out if I can).
In terms of my rent, I have read all up on the 50/20/30 rule and have done extensive research about how I should spend no more than 25-30% of my monthly gross income on rent. While spending 25-30% of my monthly gross income would afford me around $1250-$1500 per month, my friends and family keep insisting that I spend no more than $900 per month maximum on my rent. They said that it would be a dumb idea to spend more than $900 a month because I am just going to be starting off my career and I can get a decent, more modest place to live in the area for around $600-$800 per month. Additionally, they say that I should just save my money and get something nicer when I am older.
I think that their logic is sound, however, I personally want to live in a more upscale style apartment complex with amenities (pool, gym, lounge, etc.) that would cost me in the $1000-$1200 range. I do not think that paying more than $1250 would be worth it, as I can get all that I want for less. Most of these upscale apartments have social programs for residents and are in walking distance of downtown. While I will be working 40-50 hours a week, I believe that the utility I would gain from these "luxurious" aspects of an upscale apartment would be worth the additional cost per month. I truly value making friends and going out downtown, and I would enjoy being in a nice living environment after the workday.
I grew up in an average, middle-class family and my parents didn't go to college nor were they offered the same level of opportunity as I was. Because they have given and done so much for me, I would feel extremely guilty from going against their word. However, I worked my ass off to get into a prestigious college and to graduate with the career that I have always wanted. In my head, I feel that since I finally have the ability to reward myself, I should do so and get what I want.
I am asking for your opinion on this. Would it be better for me in the long-run to save money and just get an average place to live at this point in my life or go with what I truly want and spend more than I was recommended to do so? Thanks so much for your time and I apologize for dragging this question on, I just wanted to provide a good level of context.
Submitted April 25, 2019 at 05:39PM by andrew_g87 http://bit.ly/2UH8ht0
