U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Personal Finance
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 01-03-2020, 05:49 PM
 
36 posts, read 9,529 times
Reputation: 38

Advertisements

Deciding on what decision to make. Whether I want to save lots of money and live with my parents, but lose out on freedom and independence. Or choose to be on my own do my own thing however not save as much money. I was thinking living in a studio and just have freedom to do whatever I want. I am 28 year old single male to put it in perspective.
Quick reply to this message

 
Old 01-03-2020, 06:08 PM
 
8,924 posts, read 5,775,017 times
Reputation: 10458
Do you have any debt?

What is your salary?

What city do you live in?

If you live with your parents are you contributing money, etc?

If you live with your parents, what are you trying to accomplish financially? How long will you do it for, etc?

Since you are a dude society will come down on you harder. Friends will make fun of you, ladies will make fun of you, etc.

IMO, if you are trying to pay off your student loan or saving 20% for a downpayment, etc then it makes sense to live with your parents for sometime. BUT you need to be aware of the stigma that will come with it and ignore it and just focus on completing your goal.
Quick reply to this message
 
Old 01-03-2020, 06:17 PM
 
Location: San Francisco Bay Area
13,707 posts, read 15,788,396 times
Reputation: 13267
Freedom and independence is the way to go. You live, learn, mature and grow that way. 28 is about the age when most have moved out of their parent’s homes.
Quick reply to this message
 
Old 01-03-2020, 06:37 PM
 
881 posts, read 400,801 times
Reputation: 1892
Nothing more attractive to a young lady than a 28 year old boy mooching off of his parents....
Quick reply to this message
 
Old 01-03-2020, 06:42 PM
 
36 posts, read 9,529 times
Reputation: 38
Quote:
Originally Posted by Mr. Ryu View Post
Do you have any debt?

What is your salary?

What city do you live in?

If you live with your parents are you contributing money, etc?

If you live with your parents, what are you trying to accomplish financially? How long will you do it for, etc?

Since you are a dude society will come down on you harder. Friends will make fun of you, ladies will make fun of you, etc.

IMO, if you are trying to pay off your student loan or saving 20% for a downpayment, etc then it makes sense to live with your parents for sometime. BUT you need to be aware of the stigma that will come with it and ignore it and just focus on completing your goal.
Do you have any debt? 27k

What is your salary? Oregon: I am expecting 70-75k gross. San Diego: 80k gross. I work in healthcare so work 3 days a week. I am debating on whether I want to get a second job part time or per diem work for extra cash. Depends on how confident I am at my job. I am a new grad if that matters.

What city do you live in? I live in San Diego and my parents are from here. So If I choose SD job I will live with my parents. If I go choose the Oregon job I will be on my own and independent.

If you live with your parents are you contributing money, etc? If I live with my parents I don't think I will be contributing any money. housing, food, rent my parents won't charge me. I am thinking of returning the favor by having all expense paid vacation for the family at the end of the year if I choose this route. I might do the same with the other route too. All depends on how much money I save.

If you live with your parents, what are you trying to accomplish financially? How long will you do it for, etc? Financially just want to pay off all my debt and have money saved up to invest in other stuff. I will probably do it for one year or two year max. I only have about 27k so I can pay it off pretty easily with either route. Both job offers I can pay off my debt, one would just be sooner, but I am expecting it to all be paid in less than a year. It basically boils down to lifestyle vs financial.

Last edited by FeistyCar7; 01-03-2020 at 06:51 PM..
Quick reply to this message
 
Old 01-03-2020, 07:13 PM
 
8,924 posts, read 5,775,017 times
Reputation: 10458
Quote:
Originally Posted by FeistyCar7 View Post
Do you have any debt? 27k

What is your salary? Oregon: I am expecting 70-75k gross. San Diego: 80k gross. I work in healthcare so work 3 days a week. I am debating on whether I want to get a second job part time or per diem work for extra cash. Depends on how confident I am at my job. I am a new grad if that matters.

What city do you live in? I live in San Diego and my parents are from here. So If I choose SD job I will live with my parents. If I go choose the Oregon job I will be on my own and independent.

If you live with your parents are you contributing money, etc? If I live with my parents I don't think I will be contributing any money. housing, food, rent my parents won't charge me. I am thinking of returning the favor by having all expense paid vacation for the family at the end of the year if I choose this route. I might do the same with the other route too. All depends on how much money I save.

If you live with your parents, what are you trying to accomplish financially? How long will you do it for, etc? Financially just want to pay off all my debt and have money saved up to invest in other stuff. I will probably do it for one year or two year max. I only have about 27k so I can pay it off pretty easily with either route. Both job offers I can pay off my debt, one would just be sooner, but I am expecting it to all be paid in less than a year. It basically boils down to lifestyle vs financial.
It terms of career options, which city is better? Oregon (what city in Oregon) or San Diego.

Also, have you compared the cost of living (COL) between the cities? (Not sure what city in Oregon you are looking at)

I guess the decision boils down to the city that you decide. 27K is not too high of a student loan debt amount. All you need to do is factor in the COL from the city that you decide on. You sholld also consider creating an emergency fund. $1K to start then 3 to 6 months of living expense once you decide on where to live, etc.

Have you created a budget?
Quick reply to this message
 
Old 01-03-2020, 07:29 PM
 
36 posts, read 9,529 times
Reputation: 38
Quote:
Originally Posted by Mr. Ryu View Post
It terms of career options, which city is better? Oregon (what city in Oregon) or San Diego.

Also, have you compared the cost of living (COL) between the cities? (Not sure what city in Oregon you are looking at)

I guess the decision boils down to the city that you decide. 27K is not too high of a student loan debt amount. All you need to do is factor in the COL from the city that you decide on. You sholld also consider creating an emergency fund. $1K to start then 3 to 6 months of living expense once you decide on where to live, etc.

Have you created a budget?
Career options: I would say oregon as it seems easier to get a job. SD requires experience.

COL: I was looking at housing and it looks to be around 800-1000 for a studio apartment depending on how fancy I want to live. I will be moving specifically to eugene/springfield. Budget: i have not thought about that yet, but I do already have money saved up from working before it is not much around 8k. At the moment I am leaning towards being on my own and living my life, but my practical side sees how much I can save living with my parents. My parents want me to stay and live with them. I am not an only child. My brother and sister has moved out which is why they probably want me to live with them.
Quick reply to this message
 
Old 01-03-2020, 07:49 PM
 
7,400 posts, read 4,075,868 times
Reputation: 19709
Move out on your own. At 28 if you don't do it now, you never will. There will always be reasons to stay that get hard to overcome the longer you way.
Quick reply to this message
 
Old 01-03-2020, 09:21 PM
 
27,291 posts, read 34,207,676 times
Reputation: 35062
Quote:
Originally Posted by FeistyCar7 View Post
[b] I only have about 27k so I can pay it off pretty easily with either route. Both job offers I can pay off my debt, one would just be sooner, but I am expecting it to all be paid in less than a year. It basically boils down to lifestyle vs financial.
Then that's a no-brainer. Move out on your own. You're 28!
Quick reply to this message
 
Old 01-03-2020, 11:15 PM
 
7,646 posts, read 4,242,205 times
Reputation: 16548
Quote:
Originally Posted by FeistyCar7 View Post
Do you have any debt? 27k

What is your salary? Oregon: I am expecting 70-75k gross. San Diego: 80k gross. I work in healthcare so work 3 days a week. I am debating on whether I want to get a second job part time or per diem work for extra cash. Depends on how confident I am at my job. I am a new grad if that matters.

What city do you live in? I live in San Diego and my parents are from here. So If I choose SD job I will live with my parents. If I go choose the Oregon job I will be on my own and independent.

If you live with your parents are you contributing money, etc? If I live with my parents I don't think I will be contributing any money. housing, food, rent my parents won't charge me. I am thinking of returning the favor by having all expense paid vacation for the family at the end of the year if I choose this route. I might do the same with the other route too. All depends on how much money I save.

If you live with your parents, what are you trying to accomplish financially? How long will you do it for, etc? Financially just want to pay off all my debt and have money saved up to invest in other stuff. I will probably do it for one year or two year max. I only have about 27k so I can pay it off pretty easily with either route. Both job offers I can pay off my debt, one would just be sooner, but I am expecting it to all be paid in less than a year. It basically boils down to lifestyle vs financial.
And above you have provided your own answer. Trading a bit of excess time on your hands for moving on as an adult should not require much inner debate.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Personal Finance
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top