Thursday, April 8, 2010

Summer plans

I finally figured out the best solution to saving money this summer as far as my living situation goes. It's a little cramped but here it goes: My parents said they'd contribute $200/month to my rent if I stayed on campus. Yes, living at home is cheaper but the commute would waste 2 hours of my day and precious gas money plus there's the hassle of moving etc. So then MG and I were talking and since we already spend most of our time in his room anyways, we're going to consolidate into his room, split his rent and sublease my room. When we split his rent, that leaves us at about $200/month each including utilities and with the $200/month from the rents, that leaves me with a free summer of living and no commute. Perfect. Now MG's room is pretty small but I think we can make it work and with both of us gone working all the time, we won't have too much time to go nuts in close quarters. Mostly, we're both just really excited to be saving as much as we can and use that 2 hours a day we would waste on commute and spend it job hunting.

By the end of the summer (well, beginning of August if I leave for NJ) I will have paid off $1000 of this pain in the ass loan and will have at least $1000 saved for future loan payments, a place to live once we move out etc. That's only with the accounting job so if I include Express, it will be even more. I have a conundrum however. If I am earning all this money, is it better to put it towards loans right away or to keep some so when I actually receive bills I have the money to pay it off? I feel like I need to find a happy medium of that so I can reduce the amount I'll pay but I can also keep up with the payments when they become mandatory. Tough call. Any advice is greatly appreciated!

1 comment:

  1. And not only is gas money a big issue, but the more you drive your car, the more repairs it need!! Another upside of not commuting ;)