The longer I stay at home the worse my mental health gets. My parents are toxic and controlling and negative all the time and it’s just all around a terrible environment to be in. I got a new job that pays decent, almost double what I was making at my previous job but im looking at apartments in my area and it would take way too much of my monthly income to afford the rent and I would end up moving back in eventually.
I’m thinking if I had 15k saved I’d have rent + utilities for maybe half a year, by which time I might be able to get an even better job but that’s a huge maybe since the field im in is pretty rough fir new grads. Maybe I could get a second job like bartending or serving to supplement my income? What would you guys says is the best way to escape?
financehardo420 Should i (x1) 6h ago
A general rule of thumb for a decent emergency savings pile is 6 months of living expeneed (rent/itilities/bills/sustenance). If you lose your job you’re not on your ass. That’s just something to work towards - as long as you have enough income you can rent whatever.
If your monthly income is like 4k I’d look for places that are ideally 2k or less/month. Getting your own place is a vibe bc nothing blocks your cock more than living w mommy and daddy in your 20s
mattyanon Admin 4d ago
Ok.
We can't answer this for you - we don't even know your currency. I assume it's USD but who knows.
You don't need savings.
You need to budget. Monthly income after tax, monthly outgoings. Add them up and go from there. Talk to people in your area to find out what utilities, food, etc comes to.
You don't have to be "in your area". You might have to commute to work to be able to afford a place. You might have to flatshare. Work out it in your area, talk to your friends and colleages, ask what they pay and where they are.
TLDR; Saving is an illusion, you need a BUDGET
pofkaf 1w ago
Coming out of college, I was in a similar situation. I wanted to get out ASAP.
I literally looked on Craogslist and found somebody looking to sublease the basement of a house for super cheap. I had never met the guy before. Didn't know anything about him. But I reached out, we met at the place, and I moved in.
We actually got along well enough. I was poor though. I was counting every penny, shopping at thrift stores, and generally living frugality. But I made it work. Eventually I increased my income and was able to move into a decent apartment by myself.
All of that is to say: you'll be alright. Even if you're poor, even if you don't know any roommates. You'll be alright.
joyboy 1w ago
Yeah it’s so much harder now though. Everything on Craigslist is still expensive (nothing less than 1k even in subpar areas) so idk
Kloi 6d ago
Depends where you are, thats a down payment on a house.
Got buddies in their early 20s with houses almost payed off because while they had the luxury of living at home for essentially free, they were working towards their goals instead of partying.
If you have something you want to chase, stomach it as long as possible and it doesn't interfere with what you want.
If you just want to live a little and get outside the nest, that's important too.
Depends what you want and where you're at in life. I moved out at 17 before I even graduated.
MentORPHEUS Senior Endorsed 6d ago
Guffaws in Californian
A slob who nonetheless stays current on rent and doesn't manifest mental illness behavior patterns sounds like a dream tenant, thinking back on some of the people I had as roommates as I built my career and income stream.
The day my last roommate ever moved out was the beginning of a new better era in my life.
Careful about getting tied to a second job unless the wage is killer. You'll end up hating your life as it slips by making money for others. I'd recommend cultivating a side hustle that is flexible on when and how much you put into it. Maybe gig work like Ubering if nothing else. But something where you can value-add to things to multiply profit is worth looking for; depends on your skills and talents. For example, you could buy and resell things, but for great profit margins, being able to buy, improve/repair, THEN resell is where it's at.
throwaway415 6d ago
With the kind of dough you have saved, assuming your income is at a decent level, you should be able to rent a place.
If you're up for it, some jobs that require travel pay for your hotels and rental cars, like mine does, and you can live basically for free while keeping most of your pay
If you can't afford rent in your city you can either hustle harder to make more money or look for a place somewhere more affordable
With the kind of money you have saved you won't be able to afford a home yet, but if you save for another few years, you can easily afford a fixer-upper property somewhere in a rural area
az01209 6d ago
The American life where you have roommates until you're 30+ is outrageous.
Lone_Ranger 2 6d ago
I feel your pain. Things are more difficult now for young people.
If I were you, I would be seriously considering a higher goal -that of buying your own place. I was 24 when I moved out of my parents house (quite old I know) and I moved into a share. I bought my first house at 26 (a small 4 bed). All my friends thought I was mad ...they said 'why do you need a 4 bed, why a house, why not a small aparment??
Turned out that small shitty first house was the start of my property buying. It forced me to live a more stable life, a more serious life. if you have a property that needs a new heating system, you make different choices in your life - suddenly, you are less interested in going out drinking and dropping £300 in one night on b/s.
Look long term - what is your goal? how could you get to the point where you can get yoru first property?
Vermillion-Rx Admin 1w ago
Generally when you're just starting out you split rent with housemates, not get your own house or apartment. That's a lot of money going down the drain when you can split rent.
joyboy 1w ago
I looked at the rent for 2BR and 3br and they’re about the same. That would effectively cut the rent in half which means I would need around 8k saved up.
The problem with that though is I don’t really know anyone else I could room with and that I know for sure would be clean and hygienic (heard tons of horror stories about people being complete slobs)
Vermillion-Rx Admin 1w ago
I've used roomie. It was okay. Just vet people. If they look the way you'd expect them to behave they do
joyboy 1w ago
Thanks will look into it
Vermillion-Rx Admin 1w ago
Yeah no problem look at my edit. Avoid people who don't really have professional jobs and people that play too many video games or smoke or whatever they don't clean shit
Of all the people I met who had legit 9-5s or jobs where they had to look professional they were
The three I had that were ass were all heavy smoker/drinkers (one I had no say over because she already lives there) and the other was sort of forced on me. The other was way too old to still be renting in his life. Like that was a red flag