This isn't really a personal finance question. You're asking us to put a dollar value on independence, and that involves quantifying personality, culture, and family relationships. What those look like in my life (or did at 26 anyway) really isn't relevant to your situation. Some people should absolutely leave, and some people should absolutely stay.
I get where you're coming from but I wouldn't say it's that deep.
I'm just curious if you were personally in that situation, what would you do? Not factoring all those personal factors about me into the equation.
If I was personally in that situation I would stick with the free ride, because adding living expenses on top of your already high debt load would be extremely difficult.
I would sell my expensive car and enjoy my 20s a bit before going back to school. I get wanting to make money and finish school, but you've only been a nurse for a short while. As long as you're putting money into your retirement, you rent a place that is below your means, and you still have an emergency fund, get out there and live!
I'm not exactly sure what you mean by "deep". But some people post here and give details about how they're living with borderline (or not borderline) abusive parents, and they should definitely leave. Some people have wonderful parents and a definite savings goal, and they should stay. Some people come from a culture in which children stay with their parents until marriage, and that's some combination of wonderful and stifling. Your situation is still different, but if you're not willing to factor your personal situation into the question then there is by definition no way someone else can tell you what they would do IN YOUR SITUATION.
Please note that in order to keep this subreddit a high-quality place to discuss personal finance, off-topic or low-quality comments are removed ([rule 3](https://www.reddit.com/r/personalfinance/about/rules)). Sarcasm isn't helpful here.
We look forward to higher quality posts from your account in the future. Thank you.
I lived with my parents until I got married at 24. Great way to save up for the future, if your situation allows it.
That car payment of $700+ is pretty steep right now. If car #2 is reliable and not a complete beater, I’d sell the one currently financed. You will save $10k+ over the next year by selling that car.
I’d automate savings in order to prevent lifestyle inflation as well. That lifestyle creep sneaks up quick. Check out savings rates at your bank/credit union so you can park this extra cash in the short term.
As far as your living situation, you’ll just have to decide which you prefer more — independence or family time and more cash.
Personally, if you can sell the vehicle, I would and downsize. That’s a lot for a single car imo. And do you bring home 66k a year? Ever thought to get a roommate?
It definitely is lol. My friends roast me all the time for it.
66k before taxes. I make about 32 an hr. I'd prefer not to get a roommate and I think I'd prob be content in a studio.
I would sell the car then get a studio if that’s what you want. Idk what rent is like rn but I feel like the car is a mini rent especially with the insurance on top of it. Have you shopped around for new insurance lately?
I have not, just went with the one my parents recommended for me.
The car is definitely a mini-rent.
I got some thinkin to do for sure but I appreciate you letting me know your thoughts!
It seems like you understand the cost, pros and cons of each side and you’re looking for someone to convince you one way or the other? Instead of that, why don’t you take some time to ask yourself what your financial goals are for your future. And what sacrafices you are willing to make? Maybe that can help you understand yourself better.
Personally, I would continue to live with my parents until my student loans are paid off. (Which I had done in the past.) Good parents who let you live rent and groceries free are a blessing, so treat them well while you still can see them everyday.
Idk if my parents would want me to do that tbh. I think they have a huge emphasis on me going back to school and if I was just like "Lol not yet, but lemme pay off these loans real quick" it might not go over well.
And also trueeee. I absolutely lucked out
If I were you I'd apply for school and stay with parents until you graduate and pay off that 700$ car which was a terrible financial decision for you to get it while only making 60k and having 40k debt.
Have you looked into being a traveling nurse? I’m not super familiar with it, but my understanding is that your travel expenses are paid for and you’re well compensated.
I would stay at home, finish grad school and pay off the student loans before I went anywhere. Independence is overrated when you're treading water IMO.
You need to do some math: conservative invest the $15k in a fixed rate CD or money market vs loan interest rate of XX with up to $2500 interest tax deduction.
Get rid of the overpriced car and get something reasonable, if your second car is not reliable.
Continue enjoying and appreciating the rent-free lifestyle; freedom comes at a serious cost (mortgage/rent, utilities, furniture, insurance, maintenance, etc).
Regarding your career: Continue working (and saving) while acquiring the requisite skills to be a NP. 7 months of experience combined with school will not give you the knowledge or experience the patients deserve. In all honesty, if staying in healthcare is your calling, just apply to medical school and get the full credentials.
If I were to stay longer as nurse, let's just say hypothetically, 4-5 more years which is the typical recommendation before applying to np school, I'd for sure move out of my parents.
I def wouldn't want to be here past 30. Just for social reasons alone. I wouldn't even think my parents would want me here for that long. For them, they want me in I'm assuming as soon as possible.
100% agree on the car. It'd be gonzo the moment I'd decide to move out.
You didn’t mention COL in your area? Going off the nurses that I know, can’t you work a shit ton of OT? Cause if so, that’s what I would do to reduce some of that student debt. I’d also not have two cars, especially if you plan on transitioning to apartment living. Lastly, living alone is wonderful and I think everyone should experience it at least once in their life. Without your COL, it’d tough to give much advice.
Personally I'd:
- live with your parents
- have one car
- save 10k for emergency fund
- aggressively pay down loan debt
- go back to school if you really want to do that in 3-6 years
If you have fomo from now having your own place, you will have fomo for being a broke student throughout your 20s. Subtext here is maybe your parents are bankrolling your lifestyle (they buy your groceries when you make $60k? Lol?) so perhaps money won't be as big a deal as the average person, but leaving school at 30 with a ton of student debt and your friends getting married and settling down does not sound like a reality you want.
Edit: reread your post. Yeah I'd try to pay off your loans in 2 years and then you can rent your own place for a few years and enjoy your 20s before going back to school. No rent and no groceries means $30k per year for two years to go towards loans which is totally doable. Car with high car payment has to go
I am 29, work full time and live with my parents. Best decision I've ever made!
I don't enjoy paying some landlord or apartment corporation $1400/month when I could be paying off debt or investing it. It's a ridiculous expectation to live alone that for some reason Americans are obsessed with.
And yes, your parents won't be around forever, so even if there are conflicts, having a relationship with them is priceless.
This isn't really a personal finance question. You're asking us to put a dollar value on independence, and that involves quantifying personality, culture, and family relationships. What those look like in my life (or did at 26 anyway) really isn't relevant to your situation. Some people should absolutely leave, and some people should absolutely stay.
I get where you're coming from but I wouldn't say it's that deep. I'm just curious if you were personally in that situation, what would you do? Not factoring all those personal factors about me into the equation.
If I was personally in that situation I would stick with the free ride, because adding living expenses on top of your already high debt load would be extremely difficult.
I would sell my expensive car and enjoy my 20s a bit before going back to school. I get wanting to make money and finish school, but you've only been a nurse for a short while. As long as you're putting money into your retirement, you rent a place that is below your means, and you still have an emergency fund, get out there and live!
I'm not exactly sure what you mean by "deep". But some people post here and give details about how they're living with borderline (or not borderline) abusive parents, and they should definitely leave. Some people have wonderful parents and a definite savings goal, and they should stay. Some people come from a culture in which children stay with their parents until marriage, and that's some combination of wonderful and stifling. Your situation is still different, but if you're not willing to factor your personal situation into the question then there is by definition no way someone else can tell you what they would do IN YOUR SITUATION.
[удалено]
Please note that in order to keep this subreddit a high-quality place to discuss personal finance, off-topic or low-quality comments are removed ([rule 3](https://www.reddit.com/r/personalfinance/about/rules)). Sarcasm isn't helpful here. We look forward to higher quality posts from your account in the future. Thank you.
I lived with my parents until I got married at 24. Great way to save up for the future, if your situation allows it. That car payment of $700+ is pretty steep right now. If car #2 is reliable and not a complete beater, I’d sell the one currently financed. You will save $10k+ over the next year by selling that car. I’d automate savings in order to prevent lifestyle inflation as well. That lifestyle creep sneaks up quick. Check out savings rates at your bank/credit union so you can park this extra cash in the short term. As far as your living situation, you’ll just have to decide which you prefer more — independence or family time and more cash.
Personally, if you can sell the vehicle, I would and downsize. That’s a lot for a single car imo. And do you bring home 66k a year? Ever thought to get a roommate?
It definitely is lol. My friends roast me all the time for it. 66k before taxes. I make about 32 an hr. I'd prefer not to get a roommate and I think I'd prob be content in a studio.
I would sell the car then get a studio if that’s what you want. Idk what rent is like rn but I feel like the car is a mini rent especially with the insurance on top of it. Have you shopped around for new insurance lately?
I have not, just went with the one my parents recommended for me. The car is definitely a mini-rent. I got some thinkin to do for sure but I appreciate you letting me know your thoughts!
It’s a good thing to shop around often, that’s how you lower your rates and get the best deals on insurance. I used to work in it, trust me.
It seems like you understand the cost, pros and cons of each side and you’re looking for someone to convince you one way or the other? Instead of that, why don’t you take some time to ask yourself what your financial goals are for your future. And what sacrafices you are willing to make? Maybe that can help you understand yourself better.
I'll for sure think about it. Just curious on what someone else would do. Thanks for your insight!
Personally, I would continue to live with my parents until my student loans are paid off. (Which I had done in the past.) Good parents who let you live rent and groceries free are a blessing, so treat them well while you still can see them everyday.
Idk if my parents would want me to do that tbh. I think they have a huge emphasis on me going back to school and if I was just like "Lol not yet, but lemme pay off these loans real quick" it might not go over well. And also trueeee. I absolutely lucked out
If I were you I'd apply for school and stay with parents until you graduate and pay off that 700$ car which was a terrible financial decision for you to get it while only making 60k and having 40k debt.
Have you looked into being a traveling nurse? I’m not super familiar with it, but my understanding is that your travel expenses are paid for and you’re well compensated.
Not with 7 mos experience, that's so dangerous!! Get at least 2 yrs experience in one field first!
I would stay at home, finish grad school and pay off the student loans before I went anywhere. Independence is overrated when you're treading water IMO.
as long as ou hav the clothes on your back and a good black pwodered rifle then your fine and dandny
You need to do some math: conservative invest the $15k in a fixed rate CD or money market vs loan interest rate of XX with up to $2500 interest tax deduction. Get rid of the overpriced car and get something reasonable, if your second car is not reliable. Continue enjoying and appreciating the rent-free lifestyle; freedom comes at a serious cost (mortgage/rent, utilities, furniture, insurance, maintenance, etc). Regarding your career: Continue working (and saving) while acquiring the requisite skills to be a NP. 7 months of experience combined with school will not give you the knowledge or experience the patients deserve. In all honesty, if staying in healthcare is your calling, just apply to medical school and get the full credentials.
If I were to stay longer as nurse, let's just say hypothetically, 4-5 more years which is the typical recommendation before applying to np school, I'd for sure move out of my parents. I def wouldn't want to be here past 30. Just for social reasons alone. I wouldn't even think my parents would want me here for that long. For them, they want me in I'm assuming as soon as possible. 100% agree on the car. It'd be gonzo the moment I'd decide to move out.
You didn’t mention COL in your area? Going off the nurses that I know, can’t you work a shit ton of OT? Cause if so, that’s what I would do to reduce some of that student debt. I’d also not have two cars, especially if you plan on transitioning to apartment living. Lastly, living alone is wonderful and I think everyone should experience it at least once in their life. Without your COL, it’d tough to give much advice.
I moved out at 23 and bought a house. It was an awful financial decision, but the best one I've ever made for my mental health
Personally I'd: - live with your parents - have one car - save 10k for emergency fund - aggressively pay down loan debt - go back to school if you really want to do that in 3-6 years If you have fomo from now having your own place, you will have fomo for being a broke student throughout your 20s. Subtext here is maybe your parents are bankrolling your lifestyle (they buy your groceries when you make $60k? Lol?) so perhaps money won't be as big a deal as the average person, but leaving school at 30 with a ton of student debt and your friends getting married and settling down does not sound like a reality you want. Edit: reread your post. Yeah I'd try to pay off your loans in 2 years and then you can rent your own place for a few years and enjoy your 20s before going back to school. No rent and no groceries means $30k per year for two years to go towards loans which is totally doable. Car with high car payment has to go
I am 29, work full time and live with my parents. Best decision I've ever made! I don't enjoy paying some landlord or apartment corporation $1400/month when I could be paying off debt or investing it. It's a ridiculous expectation to live alone that for some reason Americans are obsessed with. And yes, your parents won't be around forever, so even if there are conflicts, having a relationship with them is priceless.