Fresh meat. From Los Angeles!
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|Sat, 01-09-2010 - 6:53pm|
Hey everyone, fresh meat here on iVillage, took some courage for me to write all of this down. I'm usually the type to figure things out on my own and not ask for help… (inherited the stubbornness from my father…)
I'm a 25 year old college graduate, working after graduating college for 4 years. I've always worked hard… During & After college… When I say "working hard", I mean being responsible foremost.
I worked down my Student loans to $29k which sounds like a lot but I nearly cut it in half, since my graduation, CC debt $400. Monthly overhead of $1900 (includes bills + current rent). I live at home with the parents, great situation no problems. I pay rent, help out with utilities, groceries & misc house spending. I have about $10k in savings + $3k in stock investments. I have a 401k started at my job. I've always been the smart spender/saver.
I'm at a point where I feel I'm ready to move out but am wondering if it's the right time…considering my debt. While considering my decision I run into the following senarios.
Take large chunks of savings & pay down loan, but this would leave me poorer and chances of moving out and living paycheck to paycheck increase (not what I want)…
Similar as 1 but living with the rents.
Move out, continute to pay my usual 200% on my monthly loan bill…
More detail on my loans,
Loan 1 - 6k @ 4.75% interest
Loan 2 - 23k @ 5.75% interest
I'm not looking for people to tell me "What to do" but actually looking to hear what people have to say from their life experiences to help me make my decision. This question is part debt question part life question.
This is a long read, thanks if you got this far… :)