Anonymous User wrote:How quickly can I pay off ~$45k in debt in NYC/BigLaw?
Presuming 7k a month in actual take home, 3k a month rent + expenses, maybe 10 months if I pay down aggressively? Thinking maybe find a decent room in Brooklyn for $1-1.5k a month, maybe bring it down to 8-9 months? The calculators are easy to find, but TLS is useful for the anecdotes.
I also may have the option of living at home for free, but I didn't spend three years pretending to give a shit about Torts in order to make six figures to do that.
Aggressively a little over a year.
Realistically closer to two.
If you live at home and don't pay rent maybe 9 months
Math: $7k take home. Minimal living expenses of $1500 per month. $5500 to loans. (9*$5,5k=$50k) so that leaves a little wiggle room
Rent with roommates, utilities & another $1500 leaves $4k/month. 12*$4k=$48k is not quite enough after factoring in interest
Decent apartment and some fun at $3k per month leaves $2500 toward loans. 24*$2.5k=$60k. This is definitely enough to pay your loans, with interest, and still enjoy the good life - though not quite living it up as much as characters on a TV sitcom