I'm moving to NYC this July and I am about to sign a lease for a studio in West Village/Chelsea area for $2,150. This is my first job out of college and it feels super weird paying this month for rent. Came from a small Virginia college town paying $450/month so this is a huge shocker because paying 1k let alone 2k for a studio is absurd to me.
My Situation:
- $110,000 salary with a raise of $10,000 on January 2022
- Exempt from FICA Tax
- Take home is in between 5000-6000, I really don't know the exact number until I get more info of pre-tax deductions for insurance, 401k, etc.
- ~$10,000 in checking right now
- Non-existent credit score as I am an international student. Looking to build this ASAP.
- No Debt at All
- Can't invest as I will be working directly in a conflict of interest type of situation, a huge no-no. only trades that are approved by the firm, so most likely will be dumping everything into index funds when I start in August ($750-1000 a month...?).
- Plan to max out 401k and start a 'rainy day fund'.
Am I stupid to pay this high for rent? I want to enjoy my first year in NYC but don't want to go overboard and ruin my financial goals. Essentially would be down to move into a cheaper apartment with roommates if I want to save more down the road.
Very conservative on spending, spend most of the time in my room playing computer games and the occasional night out on a Fri/Sat night every other week + cook all my meals... well who am i kidding its nyc, might eat out once a week or something idk.
Submitted May 29, 2021 at 01:11AM by InstantNut https://ift.tt/3fu42P2
