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Dear Wendy
Dear Wendy

I’m about to move out but my budget makes me scared. Can you help me?

Home Forums Advice & Chat I’m about to move out but my budget makes me scared. Can you help me?

Viewing 12 posts - 13 through 24 (of 133 total)
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  • #1112584 Reply
    Avatar photoLucidity
    Guest

    So I know you said for several reasons you can’t do a roommate situation, but… is there any way you can revisit those reasons? No need to get into them here, just something to think about on your own.

    $555 a month after expenses isn’t that ideal. What if you car needs major repairs, what if a friend asks you to be in her wedding party and you want to do it, what if you want to take a trip without dipping into your savings, what if you have an unexpected injury or health issue?

    1.5 million at age 65 sounds like a lot, but that amount won’t last you nearly as long in 40 years as would now. Kate is right, you need to put as much as you can into your savings and retirement fund now. Sacrifices now, like roommates, would be worth the payout later for most people. Maybe not for you, depending on your reasons, but really worth thinking about.

    #1112588 Reply
    Kate
    Keymaster

    Honestly you’re doing very well right now, with a job that has benefits, a car that’s paid off, and thousands of dollars in the bank. I think that renting an apartment on your own is going to take a toll and has the potential to set you back. I don’t see where else you could save money but on rent. And I hate to think of you not saving 5% to get that match for a total of 10%. I do think if you’re not able to save 10% of what you make then you’re overextended.

    #1112590 Reply
    Avatar photoCopa
    Participant

    Have you seen the cheaper apartment in person? A lot of people don’t like their management companies and will leave bad reviews on apartments that aren’t THAT bad. I lived alone starting at 27 and in hindsight wish I’d gone the roommate route, but I opted into no frills apartments. Like vintage walk-ups with no amenities that were still safe, well kept, etc. So I’d probably opt into the less expensive apartment if roommates are a no-go.

    I think you sound like you’re doing better than most 25 year olds though. You don’t mention any student loan debt and you already earn ~$70K (unless entry-ish level salaries really have changed that much in the last decade, this is good… this is more than my friend made working in finance for Microsoft back when we graduated). When I was your age I made like half that amount and was waist deep in debt. It was not a great time.

    #1112592 Reply
    TacoTuesday
    Guest

    I’ll take a look at my rent again.

    A move is non-negotiable, though. I’m sure you’re aware of the ongoing saga of my controlling parents I’ve written about under different names. (Remember the washcloths?) I’m just not willing to stall a move anymore. Though, now understanding the extent of my financial situation, you may now disagree.

    #1112593 Reply
    TacoTuesday
    Guest

    Thank God, though, no debt of any kind but my income is 41K.

    #1112594 Reply
    TacoTuesday
    Guest

    Ugh, I keep posting before I remember another thought. I visited the cheaper place. It looked okay. Model bedroom looked good. Though we all know it could be a different story compared to the actual unit I’d be moving into. It’s a game of musical chairs of trying to get a pre move-in inspection the week the tenant moves out and before I sign a lease *and* before it’s given to anyone else.

    I also regret giving my location in a previous post. If it’s within your power, Kate, could you remove that?

    #1112595 Reply
    Avatar photoCopa
    Participant

    My first “real” job paid me $35K and I had about $60K in debt. It was bad, so to me, your financial situation seems like a dream for a first job. I think I remember your previous posts, though not too well — basically that staying at home is not a great situation, right? I lived at home for a bit to pay down enough debt to make my life easier but moved out before it was ideal (from a financial perspective) because my parents had not yet divorced and it was really bad dynamics, so I get it. I thrifted, meal planned/prepped, picked the meh apartments, and looked for free or inexpensive entertainment and things turned out okay for me. I paid off my debt in six years. I job hopped a bit to get my pay up. So, I think you’re fine, but I am also a Great Recession grad and things were not great for a lot of us (I had it better than plenty of friends) so maybe my perspective is skewed.

    Going through a tank of gas/week seems like a lot for someone who works remote. Can you cut back there? I also thought $100/mo for toiletries sounded like a lot.

    #1112596 Reply
    ktfran
    Participant

    @copa picked up two expenses I also noticed. A tank of gas a week seems like a lot of gas for someone who works from home. $100/month is also a lot for toiletries. I don’t even think we spend that for two of us. Groceries are also seem a little high, unless that includes eating out. You could easily do around $50/week for groceries. Maybe some weeks a little more if you need to stock up on olive oil and other stuff like that.

    #1112597 Reply
    Anonymousse
    Guest

    That’s an insane amount to spend on gas if you are not commuting. I run two kids around, as well as their friends, do errands and drive two hours to the beach and back almost every week in a van and spend less in gas than you. Not to compare, but you with the sexually weird and controlling father who won’t let you do much are spending that much on gas for social events right now? You need to cut back on your social functions in that case right now, and move out of that sick house. That should be your focus, fuck your retirement, honestly. Fuck anything. Move out, why are roommates not okay? Could you explain? We are strangers and have no idea who you are, why can’t you move into a shared apartment with female roommates?

    And agree on toiletries, even food, really. Please, google tips for cutting costs and there are a zillion sites. I’m sure there are life hack sites dedicated to this, as well as pages on Reddit. You can make cheap easy to make food at home and save a ton of money that way.

    Therapy is what you need, after you GTFO.

    #1112598 Reply
    Anonymousse
    Guest

    I think you should contact the helpline or something. Like I can’t believe you just casually referenced the washcloths. Wow, yeah it immediately brought to mind exactly who you are, I will say that. That’s how memorable that is, and we see a lot of weird stuff.

    #1112602 Reply
    Kate
    Keymaster

    I filled my car up for $70 earlier this month and drove it 2 hours each way to cape cod and back, and drove it while down there, and it still has at least half a tank.

    Anyway. It’s hard to believe things you say on here after that post about having a boyfriend and having already moved out. I don’t get what your deal is. But my best recommendation is get a female roommate and spend some money on therapy copays. Why did you claim you can’t afford therapy? What a crock of shit.

    #1112604 Reply
    ron
    Guest

    I think you can make that budget work.

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