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I'm sure you see a lot of these posts on this forum, so I apologize if there is a thread dedicated to these types of questions already.
I'm a 22 year old recent grad who moved home after college in May. I got a full time job in July and while it has nothing to do with what I want to do as my career, it is helping me save up for graduate school so I can eventually do what I really want. I make $11.75 an hour 45 hours a week, save at least 20% of each paycheck, and have about $3000 in a savings account right now.
My home life is fine and I don't desperately need to leave, but I do want to be independent. My parents are getting a divorce so one lives in the family home while the other lives in a shared apartment for a week and then they switch. This allows me and my 16 year old sister to live stable lives in our childhood home. They plan to sell the house in the spring but both offered me a place to stay in their new homes. I don't really want to do that because they have both started dating other people and I want to move forward in my life. My plan was that I would live at home for a year, so if I moved out when they sold the house I'd be right on track. If I move now, I'm 6 months early but I'm ready to live on my own.
I found a large 5 bedroom/2.5 bath townhome in a nice neighborhood in Baltimore (Charles Village, if you're familiar) for $425 a month plus utilities. It's a monthly lease, so I don't have to worry about being stuck there if I need to move for grad school. The other people living in the house all seem like good, responsible people, but if they end up being awful I could find somewhere else because of the easy lease arrangement or survive because I've lived with people I dislike before. Moving would put my work commute at about 30 minutes (a 20 minute increase). If I moved in, the bedroom would be the biggest I've lived in since my sister took over my childhood bedroom and the biggest closet I've had since...ever. My friends in the city are a short drive, bus or bike ride away. I don't like to rely on anyone, especially my parents, who have already done so much for me. They paid for my entire college education so I graduated with no student loan debt.
Should I take this great opportunity or save money by continuing to live at my parents house?
Your problem isn't living at Mom's (which yes, you need to keep doing).
The problem is you should be earning so much more.
Fix that.
Forget grad school until you do.
Ha! I'd love to fix that, but I have a bachelor's degree in psychology, little experience, and in this economy I'm lucky to have the entry-level, soul sucking office job that I've acquired. My friends without engineering degrees are teachers, waiters, or work in retail. I'd feel lucky if I got a raise to $12/hr. If I get another job it will be something related to psych so I can get experience before grad school and I can't imagine that that would pay more than I make now. I've accepted the fact that I will be going into debt to attend grad school. There is absolutely no way around that, even with scholarships, grants, and working as a teaching assistant.
Those last four years and who knows how much money you just spent? It's all gone.
You're starting over.
Starting over? I'm not sure I follow. I'm moving up using what I have.
Regardless, I thought a bit about being able to save the money I'd spend on rent between now and my original move out date and decided I should keep living at home ($2125 by March). I'm going to email the girl who gave me the tour and tell her to give my e-mail address to whoever moves in so they can let me know if they or another roommate moves out later though.
Stay home. Don't move until after grad school if parents don't mind. Being independent means stupid if your broke. Do you know how much utilities are in that kind/size house?
Do you have a local VA hospital? If so apply there. As for moving out I say build up your bank account as much as you can. Try to have 3 to 6 months of funds. Nothing like having your own.
I would say stick it out until March for sure. Bank as much as you can. Can you get a seasonal part-time job to add to your savings.
I know everyone here says stay with your parents, but you are already 22. There is nothing like being on your own in my opinion. I think you have to live on your own for a bit before you get into any kind of relationship and consider living together. You have a job and I'm sure you will get a better one. Your parents aren't kicking you out, so worst case, if you had to, you could come back to live with them. That was my worst case. I'm 32 now and it hasn't happened yet.
Listen to CaltoVegas above about VA employment. Actually, you should apply for all VA jobs and even move to a different location if you get a job in your career/education area. That should be your goal..apply like crazy for all VA locations.
I would stay at my parents for 6 months and save every penny I could save. You really need more savings for when you move out. If you are applying for VA jobs, your out-of-area move could come at any time. So it would be easier to stay at your parents' for the next 6 months or so. When they sell their home, then you move on. (or if you get a VA job the requires moving soon, you do that). And you will have more money saved between now and then.
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