Worth living at home and saving 20k?

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1776
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Worth living at home and saving 20k?

Postby 1776 » Thu May 10, 2012 3:54 pm

I can live at home and commute, and have a total debt of 21k, or live on my own and have 41k in debt. How much is my sanity worth? My other option is living with two of my friends the same distance from school as my parents house. I've lived here for a couple months already, and it's becoming unbearable. Any advice? I would sign a lease in two or three months and my parents would still match the scholarship I was offered, so I'd pay between 7-12k a year in tuition.

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flem
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Re: Worth living at home and saving 20k?

Postby flem » Thu May 10, 2012 3:55 pm

I'd swallow my pride and live at home if I had the opportunity.

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specialsnowflake
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Re: Worth living at home and saving 20k?

Postby specialsnowflake » Thu May 10, 2012 4:04 pm

i'd live on my own but that's just because i think i'd perform better in school and what not.

Tyeger87
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Re: Worth living at home and saving 20k?

Postby Tyeger87 » Thu May 10, 2012 4:08 pm

I would save money and live at home but that totally depends on what type of living arrangement you have at home and the relationship you have with your parents. If you have a quiet place to study and your parents arent going to bother you or be put off by the fact that you are not interacting with them alot (when you are studying) then its doable. It really depends on what will provide the best environment for you.
Last edited by Tyeger87 on Thu May 10, 2012 4:17 pm, edited 1 time in total.

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minnbills
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Re: Worth living at home and saving 20k?

Postby minnbills » Thu May 10, 2012 4:12 pm

I'd say live away from home. 41k total is not that bad when you consider we're talking about three years of your life.

I lived at home a bit during UG, and definitely regret it, though saving money was nice.

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MrPapagiorgio
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Re: Worth living at home and saving 20k?

Postby MrPapagiorgio » Thu May 10, 2012 4:15 pm

I lived at home throughout UG and now live alone at LS. Unless you know for certain that you'll be able to focus and get piece and quiet at home, I'd move out, especially if for all 3 years it will only be an additional 20K in debt. I suppose you could do your work at the library, but I never could.

SaintFond
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Re: Worth living at home and saving 20k?

Postby SaintFond » Thu May 10, 2012 4:15 pm

21K and 41K are both peanuts compared to the kind of debt most of us are getting ourselves into.

I'd live away from home.

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Mr. Pancakes
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Re: Worth living at home and saving 20k?

Postby Mr. Pancakes » Thu May 10, 2012 4:35 pm

calculate the interest you'd pay on the 20k. live at home, breh.

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1776
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Re: Worth living at home and saving 20k?

Postby 1776 » Thu May 10, 2012 4:59 pm

I lived away while at UG, enjoyed it, then moved home for a bit. I get along much better with my parents when the distance between us increases. I love them, but the forget I'm an adult, and can completely function independently. I'd be looking at $300 a month in rent at most. My parents, of course, want me to stay, but I like the idea of leaving for good. My commute from the rents is 25 mins, 15-20 by car or bus at the place I would live. I loved living in a house my last yr of undergrad.

Any advice on how to ask/tell your parents you're moving out without being a dick? Or should I try it out for a semester or two?

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Mr. Pancakes
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Re: Worth living at home and saving 20k?

Postby Mr. Pancakes » Thu May 10, 2012 5:00 pm

1776 wrote:I lived away while at UG, enjoyed it, then moved home for a bit. I get along much better with my parents when the distance between us increases. I love them, but the forget I'm an adult, and can completely function independently. I'd be looking at $300 a month in rent at most. My parents, of course, want me to stay, but I like the idea of leaving for good. My commute from the rents is 25 mins, 15-20 by car or bus at the place I would live. I loved living in a house my last yr of undergrad.

Any advice on how to ask/tell your parents you're moving out without being a dick? Or should I try it out for a semester or two?

you're an adult. Telling your parents that you are moving out should be an non-issue, unless they are the ones paying for that extra 20k.

doomed123
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Re: Worth living at home and saving 20k?

Postby doomed123 » Thu May 10, 2012 5:02 pm

There's no way in hell I'd do it. But then, I moved back home after undergrad, so I'm more than ready to finally move on. My peace of mind/sanity is worth more to me than $20k.

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Mr. Pancakes
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Re: Worth living at home and saving 20k?

Postby Mr. Pancakes » Thu May 10, 2012 5:02 pm

doomed123 wrote:There's no way in hell I'd do it. But then, I moved back home after undergrad, so I'm more than ready to finally move on. My peace of mind/sanity is worth more to me than $20k.

you haven't started paying back your loans yet, have you?

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20130312
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Re: Worth living at home and saving 20k?

Postby 20130312 » Thu May 10, 2012 5:04 pm

Mr. Pancakes wrote:
doomed123 wrote:There's no way in hell I'd do it. But then, I moved back home after undergrad, so I'm more than ready to finally move on. My peace of mind/sanity is worth more to me than $20k.

you haven't started paying back your loans yet, have you?


I have, and have been living at home since I graduated UG a year ago. It hasn't been awful, and saving money is nice but... it's definitely time to move out.

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1776
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Re: Worth living at home and saving 20k?

Postby 1776 » Thu May 10, 2012 5:09 pm

Mr. Pancakes wrote:
1776 wrote:I lived away while at UG, enjoyed it, then moved home for a bit. I get along much better with my parents when the distance between us increases. I love them, but the forget I'm an adult, and can completely function independently. I'd be looking at $300 a month in rent at most. My parents, of course, want me to stay, but I like the idea of leaving for good. My commute from the rents is 25 mins, 15-20 by car or bus at the place I would live. I loved living in a house my last yr of undergrad.

Any advice on how to ask/tell your parents you're moving out without being a dick? Or should I try it out for a semester or two?

you're an adult. Telling your parents that you are moving out should be an non-issue, unless they are the ones paying for that extra 20k.


I don't want to be all "I'm moving because I can't stand you people anymore!" I want to convey it as a win win.

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Mr. Pancakes
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Re: Worth living at home and saving 20k?

Postby Mr. Pancakes » Thu May 10, 2012 5:10 pm

are they paying for your school?

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1776
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Re: Worth living at home and saving 20k?

Postby 1776 » Thu May 10, 2012 5:12 pm

1776 wrote:my parents would still match the scholarship I was offered, so I'd pay between 7-12k a year in tuition.


partially, either way.

zanzbar
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Re: Worth living at home and saving 20k?

Postby zanzbar » Thu May 10, 2012 5:13 pm

1776 wrote:
Mr. Pancakes wrote:
1776 wrote:I lived away while at UG, enjoyed it, then moved home for a bit. I get along much better with my parents when the distance between us increases. I love them, but the forget I'm an adult, and can completely function independently. I'd be looking at $300 a month in rent at most. My parents, of course, want me to stay, but I like the idea of leaving for good. My commute from the rents is 25 mins, 15-20 by car or bus at the place I would live. I loved living in a house my last yr of undergrad.

Any advice on how to ask/tell your parents you're moving out without being a dick? Or should I try it out for a semester or two?

you're an adult. Telling your parents that you are moving out should be an non-issue, unless they are the ones paying for that extra 20k.


I don't want to be all "I'm moving because I can't stand you people anymore!" I want to convey it as a win win.


You could always show them the movie Failure to Launch with Terry Bradshaw. I am also deciding between living at home or going elsewhere and living on my own, but my economic incentive to stay at home is more like 50-60k difference.

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Mr. Pancakes
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Re: Worth living at home and saving 20k?

Postby Mr. Pancakes » Thu May 10, 2012 5:16 pm

1776 wrote:
1776 wrote:my parents would still match the scholarship I was offered, so I'd pay between 7-12k a year in tuition.


partially, either way.

sorry, well, I'd phrase it in a way that made it look beneficial to them for you to leave, since it probably won't be.

doomed123
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Re: Worth living at home and saving 20k?

Postby doomed123 » Thu May 10, 2012 5:17 pm

Mr. Pancakes wrote:
doomed123 wrote:There's no way in hell I'd do it. But then, I moved back home after undergrad, so I'm more than ready to finally move on. My peace of mind/sanity is worth more to me than $20k.

you haven't started paying back your loans yet, have you?


Yes, I have.

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Band A Long
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Re: Worth living at home and saving 20k?

Postby Band A Long » Thu May 10, 2012 5:19 pm

Silly question, but do you have a big house? If there's a lot of room that isn't utilized (e.g. quiet den for studying, part of a floor to yourself) it might be easier to manage being at home, since you can dedicate certain areas for studying, living, and relaxing. My house is small so I wouldn't be able to avoid running into family constantly, and I'd never get anything done.

Also, depending on your age/interest, it might be harder to meet up with students at your school, study with them, drown your misery in alcohol, and so on by living at home. That's a pretty tertiary concern, though.

Have you asked them what they think you should do? It sounds like they already offered to cover costs... maybe they secretly want to convert your old space to a workout room...

guinness1547
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Re: Worth living at home and saving 20k?

Postby guinness1547 » Thu May 10, 2012 5:34 pm

I think it's really about how much you value the social aspect of school, and whether it's worth an extra 20K. I'd much rather live on my own or with friends, have more interaction with fellow students, and bring back/hang out with girls at my own place and not my parents house.

I suppose it also depends on what kind of school you are going to and whether that extra 20K will be really important upon graduation. Harvard--not very important. CUNY--very important.

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ocajavati
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Re: Worth living at home and saving 20k?

Postby ocajavati » Thu May 10, 2012 6:19 pm

It depends on where you are going really. What city, for one.

Can't speak for law school, but I commuted to UCLA for one year from roughly 30 or so miles away.

THAT WAS A VERY BAD DECISION ON MY PART.

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1776
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Re: Worth living at home and saving 20k?

Postby 1776 » Thu May 10, 2012 6:36 pm

I already have a good number of friends here, but I'd like to meet new people. People live in different parts of the city, and there isn't one specific place everyone lives.

My parents are a little overbearing, because I was a hard kid to raise. We get in a big fight every few months, then get over it. It's not awful, but I feel like I took a huge step back when I moved back. My friends, for the most part, have their own places (some for a couple of years). Is it weird for kids to live at home for law school? I know commuters at UG had a hard time adjusting, and usually didn't have great social lives. I want to be a part of the law school social atmosphere (but I haven't met my classmates yet, so that could change), but I also have a strong group of friends now.

I don't know if it's better to live close to my current friends and dirt cheap bars, or move to a hipster type neighborhood with a lot of students. I am all about bars with free pool and dart machines, not house parties or bar hopping. I like things that are more lowkey.

It would be nice to live on a busline though, I loved having that during UG.

I think the price of my place would be pretty low, and I could use my summer earnings for living expenses or tuition.

I love my parents, but I think it'd be hard for them to understand during school that school is my job.

My house is fairly big, and my parents are willing to convert a family room to my room in order to give me more space, which is a plus.

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annet
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Re: Worth living at home and saving 20k?

Postby annet » Thu May 10, 2012 6:50 pm

I am old (just shy of 30) and cranky, but srsly, unless your relationship with your parents will significantly and negatively affect your mental health or they're physically abusive, 20 grand at 8% interest is worth sucking it up for a few years. Also, you can learn to study in the library.

That said, the fact that you moved back after ug could possibly, maybe, kinda change the situation. My parents and I have had a nice break to settle into the idea that we're all adults now. ... But, seriously, that's a shitload of interest for some vague perception that living on your own will make you a better adult/will guarantee a better social life.

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miy
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Re: Worth living at home and saving 20k?

Postby miy » Thu May 10, 2012 6:51 pm

Do it for a year. Nothing tying you to the full 3 years. There is a chance I wind up living at home in Houston...




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