I’m 30 yrs old. I have a full time job paying at least $30,000 a year. With the student consolidated debt of $60,000. my private loan is $20,000 with 9.25% rate. My federal loan is $36,000 with a 3% rate. My credit card payments is currently $1800. I’m sending extra payments.
I’m able to pay on my loans and credit card debt ($700 a month), but I don’t have enough to live off of. Outside of the loans and expenses (living with parents) I can bring in max $700. But here in DC, $700 for an apartment puts me in sub standard neighborhood. I’m trying to think of a method or plan to start so I can be on my own. Apartments here have risen. I’m thinking about moving out the area once I can get a car. I’m getting discouraged and depressed, because I look at my peers and they have families and homes.
I’m trying to come up with a method so I can be financially stable and move. Am I doing the right thing by staying at home with my folks, (it’s shunned my community)?
Just because your peers have families and homes does not mean they are not without complications and debt. If you didn’t have all your student loan debt you’d probably have more material stuff as well. But was the investment in your education a debt worth having?
The answer to moving out seems simple, get a room in a group house. You can find local ads on craigslist. I took a quick look at there are offerings in your price range. It’s not a perfect solution but it gets you out of the house and fits in your budget.
Big hug, (if not shunned in your community.)
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.