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Old 01-02-2019, 03:31 PM
 
Location: NYC
127 posts, read 53,160 times
Reputation: 66

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Well duh! If I stated that I need to work on my license then I've obviously never had one. I could honestly manage to juggle both but I may not have to for much longer since I'm hoping it'll take 2 months or so for the license. I have driven before though and it is pretty simple. But I can't be behind the wheel with Someone who freaks out easily.

I think going to Fargo is a little drastic. I've never even heard of that place. But I think a mid sized town is a way to start. Somewhere that isn't rural. But I guess somewhat walkable would be good.
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Old 01-02-2019, 04:38 PM
 
4,643 posts, read 11,717,344 times
Reputation: 3178
Quote:
Originally Posted by Montezia View Post
I'm entitled to live wherever I want thank you very much. I think picking a place with fewer income taxes and higher pay will be beneficial. It seems all the cheap places have a less than stellar job market and crap pay. Buying a house is out of the question for me. I have no idea where I want to settle and I certainly am never going back to my hometown that I hated.

I really think now is the time to pay off student loans as quickly as possible, especially as interest will continue to accrue. I'm not sure how long exactly I want to stay in nursing. I am definitely using it as a stepping stone for an art career. And so far my job is paying my bills and helping me with that. Plus I also have enough to save each month.

I think 401K are becoming a thing of the past. I haven't ever stayed at a job long enough for that to be a question. Right now I am working per diem and want to eventually transition into freelance. I don't exactly have a 9-5 5 days a week routine that's going to happen so I have no idea how to even approach a 401k.

I have no ties anywhere and I'm a single, 25 year old woman. I think getting rid of my debt quickly is going to be a good decision. I feel really bad about having the debt especially with a lot of credits and no degree (which I WANT to finish badly) I just don't want the interest to accrue or something happens to where I can't work as a nurse anymore and my loans aren't paid off. But I'm not certain at all it can happen when I have a huge chunk of my income taxes being taken out each month (for me that's around 1000/mo. So yea, low/no income taxes are a priority for me right now)

I really appreciate all of the responses. But it seems that the best places for me to move are where there's public transportation. Now I know that there isn't going to be no other place that comes close to nyc in terms of it. I've also checked the job listings in my field and i could possibly ditch the car for a few more years.

I am open to the idea of renting until I get most of my loans paid off, perhaps around 60% or so. But I definitely will want my own place eventually and I don't envision myself going into my 30s still renting with strangers, or, god forbid college age people.

Right now I pay $800 for a room and I've seen listings in Tacoma for apartments in that range on a few sites. I'm pretty certain I can manage. I just want to make more sound financial decisions. I can't deny that things may not get any better here in nyc, especially with them raising the minimum wage.
Are you saying your STATE income tax withholding is $1,000/mo.? I highly doubt it based on $25/hr. Do you get a STATE tax refund every year?
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Old 01-02-2019, 05:02 PM
 
Location: NYC
127 posts, read 53,160 times
Reputation: 66
It is. Every paycheck I am losing about 200 in taxes which is 800. But some weeks I work overtime and get paid more. I see it on every paystub. I wish it weren't the case but it is. I also have no dependants and aside from atudent loan payments I have no deductibles.

I can't say which tax it is. I don't look too closely. But I do see that I am losing a lot in taxes every paystub. My fellow nurse friend complains about losing around the same amount in taxes as well. This is my first year as an LPN so I haven't gotten any kind of tax return yet.
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Old 01-02-2019, 05:18 PM
 
2,962 posts, read 2,962,758 times
Reputation: 3574
Quote:
Originally Posted by Montezia View Post
It is. Every paycheck I am losing about 200 in taxes which is 800. But some weeks I work overtime and get paid more. I see it on every paystub. I wish it weren't the case but it is. I also have no dependants and aside from atudent loan payments I have no deductibles.

I can't say which tax it is. I don't look too closely. But I do see that I am losing a lot in taxes every paystub. My fellow nurse friend complains about losing around the same amount in taxes as well. This is my first year as an LPN so I haven't gotten any kind of tax return yet.

Your pay stub should break out your taxes each pay period. You probably have Federal, State, maybe City. There is also Social Security taken out. Are you adding all of them up when you say 'income taxes'?
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Old 01-02-2019, 05:40 PM
 
Location: NYC
127 posts, read 53,160 times
Reputation: 66
It's still money taken out of my paycheck regardless of what tax it is. It's still $200 less a week I have to myself. I do know I also get a city tax as well. I wanna say it's around $60 bucks? I do know that NY state's income tax is around 8% so that sounds about accurate.

I think the SSI and medicare taxes are small so I don't notice them. I don't nitpick for categories I just know I am losing a lot in taxes.
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Old 01-02-2019, 06:30 PM
 
348 posts, read 267,788 times
Reputation: 459
Quote:
Originally Posted by Montezia View Post
It's still money taken out of my paycheck regardless of what tax it is. It's still $200 less a week I have to myself. I do know I also get a city tax as well. I wanna say it's around $60 bucks? I do know that NY state's income tax is around 8% so that sounds about accurate.

I think the SSI and medicare taxes are small so I don't notice them. I don't nitpick for categories I just know I am losing a lot in taxes.

You should know this, otherwise, how will know how much you will save by moving to a state with no income tax? You might be jumping 'out of the frying pan into the fire', being that you don't have car expenses. A car note, insurance, and gas are likely to run you $600-700 an month easily not including maintenance. That's likely to eat up or cancel out any state/city income tax savings you would get from moving. You're rent cost are already reasonable so you won't save there.

At you pay rate, unless you're willing to work plenty of overtime, it will take you 3-4 years to pay of you're student loans under optimal conditions. You may be able to do it it 2 years if the stars align. If you move you'll likely set yourself back 6 months to a year before you can really get in the flow of things. That's just the reality of you're situation as of now.
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Old 01-02-2019, 06:38 PM
 
Location: NYC
127 posts, read 53,160 times
Reputation: 66
Well with car expenses I think it greatly depends on where it is. I've played out different scenarios and I think that it'll be easiest for me to spend straight cash on a used car. It won't be the best but I've seen plenty of people in my hometown and my uncle do this.

I think it's worth taking a risk on the move. As I've stated earlier the minimum wage did just raise and things are probably going to hyperinflate. The limited opportunities for LPNs also make this a pretty uncertain place for me to stay for too long. It's really a gamble to stay here in terms of certain employment. And going to college, which I want to do, is really out of the question unless I move. But mainly I really don't want to be around when the effects of wages going up take effect which will be really ugly. I can see a lot of working class people like myself will probably be leaving in droves and I'd want to beat the crowd.

I do understand that transport options aren't going to be the same, but if college aged students (I'm not talking about ones who get help from parents) can manage their rent and car expenses why shouldn't I as a professional? It's really hard to predict circumstances without trying yourself.

But I am done talking about taxes. I'll respond to future replies that have to do with the other aspects of moving which are EQUALLY important. Taxes really.
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Old 01-02-2019, 08:07 PM
 
348 posts, read 267,788 times
Reputation: 459
Quote:
Originally Posted by Montezia View Post
Well with car expenses I think it greatly depends on where it is. I've played out different scenarios and I think that it'll be easiest for me to spend straight cash on a used car. It won't be the best but I've seen plenty of people in my hometown and my uncle do this.
If you have $5k laying around then go used and that gets you a mediocre car. The days of a good used cars for $2k are over. Also be ready to shell out $$ for repairs when you have issues. If you can't work on cars yourself cheap cash cars are a gamble that either turn out great or cause misery. I used 2-3 year old car usually offers better cost and maintenance predictability. If you can get your uncle to find you a good cash car go for it.

Quote:
Originally Posted by Montezia View Post
I think it's worth taking a risk on the move. As I've stated earlier the minimum wage did just raise and things are probably going to hyperinflate. The limited opportunities for LPNs also make this a pretty uncertain place for me to stay for too long. It's really a gamble to stay here in terms of certain employment. And going to college, which I want to do, is really out of the question unless I move. But mainly I really don't want to be around when the effects of wages going up take effect which will be really ugly. I can see a lot of working class people like myself will probably be leaving in droves and I'd want to beat the crowd.
Nothing wrong with being proactive, that's a positive trait. You should realize that even though you are just starting out as a LPN, you are at the top of the pay scale for LPNs in lot of areas especially. Your wage is getting the NYC stimulus package as far as pay.

Quote:
Originally Posted by Montezia View Post
I do understand that transport options aren't going to be the same, but if college aged students (I'm not talking about ones who get help from parents) can manage their rent and car expenses why shouldn't I as a professional? It's really hard to predict circumstances without trying yourself.
They're likely using a mixture of loans and work. They're mostly in debt up to their eyeballs, they just don't have to pay yet. You're going the opposite direction of trying to fast track yourself out of debt, so you have to address the situation differently. Cars are necessary money pits and if you've never owned one you're gonna be in for plenty of surprises.
You are correct that it's hard to predict circumstances without trying yourself but you don't have to repeat other peoples mistakes either. Usually advice given to caution you is based on mistakes other people have already made.

Quote:
Originally Posted by Montezia View Post
But I am done talking about taxes. I'll respond to future replies that have to do with the other aspects of moving which are EQUALLY important. Taxes really.
The tax thing has already left the barn but you're right it's not necessarily the most important thing but you made that the main focal point as to hindering you from paying off your loans fast. Your lack of knowledge of details on how much it cost you makes it seem that you don't really have grasp on your finances or are serious about paying off your loan. I'm not saying it's true, since you're actively responding to the thread in a civil manner. It just comes off that way.

Texas would probably be a good bet. They seem to pay higher for the medical field than other southern states and you have no income tax. I'm referring to the major cities. Also you'll still have big city amenities. At your current rent rate, you're not going to save on rent unless you roommate anywhere with employment opportunities and reasonable pay. You may even pay more. You will likely get a better quality rental though.
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Old 01-02-2019, 10:36 PM
 
Location: Silicon Valley
17,486 posts, read 21,521,610 times
Reputation: 32952
Quote:
Originally Posted by Parnassia View Post
No DL ever? IMHO getting a license is a lot more critical than paying off a student loan!
This is not reasonable. When were you ever asked about having a driver's license when you applied for a job? Unless you are applying for a driver position, no employer cares whether or not you have a driver's license.

This is like saying someone should always pay their car payment over their rent or electric bill.

When you look at priorities, having a driver's license is really low on the list.

Last edited by NoMoreSnowForMe; 01-02-2019 at 10:45 PM..
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Old 01-02-2019, 11:22 PM
 
Location: NYC
127 posts, read 53,160 times
Reputation: 66
Yea. Student loans cannot be discharged unless you die or become totally disabled. In NYC they don't care. But a lot of places outside the city state they want you to have a car.

As for car. So I'm worried if I take out car loan (I would really prefer not to and just pay monthly but I've done some googling and I have yet to find anything about people paying for a car with cash) then it may hurt my chances of getting an apartment.

I may just end up going with Texas because while it is car dependent it has warm weather, is sunny most of the year, and the pay is similar to Washington and it also has low taxes. The major difference is that it seems more likely that I'll able to easily get a good priced apartment without spending 1k in rent alone.

I don't see why I couldn't manage to live a comfortable life on an LPN salary in Texas. I am grateful that I even have a job and degree where I can live comfortably and pay back my loans. I have friends with a bachelor's who are struggling more (and making less) than I am.

I definitely don't want to spend more than a few thousand on my first car. It doesn't seem to reasonable to have high car expenses right off the bat.
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