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I want to eventually relocate to NYC. Right now I am looking at a grad program that will put me about 100k in debt for student loans, though with a starting salary in NYC of 120k.
Admittedly I don't know too much about student loans so I'm not sure what my repayment plan would look like -- I wouldn't be surprised if it were 1k + a month.
My question: Roughly what standard of living (types of apartments, especially) can I expect to have if I live in Brooklyn with this salary and debt? I don't spend money on too many frivolous things, mainly books and clothes. Though I do moderately-priced take-out often, nothing expensive in terms of restaurants. Also, I am single.
I want to eventually relocate to NYC. Right now I am looking at a grad program that will put me about 100k in debt for student loans, though with a starting salary in NYC of 120k.
Admittedly I don't know too much about student loans so I'm not sure what my repayment plan would look like -- I wouldn't be surprised if it were 1k + a month.
My question: Roughly what standard of living (types of apartments, especially) can I expect to have if I live in Brooklyn with this salary and debt? I don't spend money on too many frivolous things, mainly books and clothes. Though I do moderately-priced take-out often, nothing expensive in terms of restaurants. Also, I am single.
Thank you for any insights
John
Well, John, if I were you, given the economic downturn, my major concern, especially, before taking on such a huge debt load, would making a cold hard determination as to whether that job and, most specifically, that salary is going to be realistic and available in a couple of years. Times they are a changing....
For example, this may not be your profession, but it highlights the prospects:
I didn't think there was such a thing. My sister is a hairdresser and even they have felt it.
That's somewhat illogical. IN a downturn, the first thing people give up are luxuries like expensive haircuts and haircoloring etc. You can get your haircut at Supercuts when you are unemployed or try a new longer style and color at home.
THere are industries that are somewhat recession proof. I'm in insurance. I called someone about a job on July 28 and started work on August 3. One call. Got the job 2 days later.
That's somewhat illogical. IN a downturn, the first thing people give up are luxuries like expensive haircuts and haircoloring etc. You can get your haircut at Supercuts when you are unemployed or try a new longer style and color at home.
Shes still a student. its $10 to get a hair cut there. Did you see anywhere in my post that she worked at an expensive salon? Older women with perms will NEVER give up getting their hair done.
Realisticaly nothing is recession proof. Its worse for new hires too. Last hired first fired, right?
Shes still a student. its $10 to get a hair cut there. Did you see anywhere in my post that she worked at an expensive salon? Older women with perms will NEVER give up getting their hair done.
Agree. In a recession, run-of-the-mill personal services don't suffer as much as other areas do.
People will cut back on super-posh services and on major eating out, vacations, or shopping -- but unless they're totally cash-strapped, they'll still get haircuts and manicures/pedicures, and will buy smaller things for themselves or as gifts: cosmetics, accessories, little gadgets, minor household-decor stuff, a pint of special ice cream, whatever.
Their reasoning is: "Since I cut back on big things, I can still afford little morale-boosters."
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