Currently I'm 30, I live in Manhattan and work downtown. I pay $1450 for a room in a "2 bedroom" apartment. It's sort of falling apart but I have an elevator and laundry in the building (in the creepy basement). Anyway, there is no living room and my roommate has the other bedroom. I really like it though. My bedroom is large and furnished so I didn't have to buy anything. I have a king-sized bed and two small closets and an air conditioner. This includes utilities as well. The annoying parts are that when it rains there are water marks/stains around the ceiling/windows and you can hear traffic (it's pretty damn loud) at night. The location is perfect though. I had a 10 minute commute on a recent assignment.
Right now, I take the subway to work and commute about 45-50 minutes (5-8 minute walk to subway, 25 minute subway ride, 10 minute walk to work from subway), with some extra time built in for waiting for the subway. I work all the way downtown for the next few months so I'm going to be biking there (30-35 minute bike ride).
Anyway my problem is that my rent is too high. I can find a new place in Queens or Brooklyn somewhere which will cost about $1000 per month if you include utilities but my commute will be more like 60-75 minutes. If I go home after work then want to go out to see friends it will be 60 minutes home then another 45 or so back to hang out with people. I also am trying to date and it's a little easier if you are actually on the island of Manhattan.
So my question is, is it worth the $400 a month to be so far from where I want to be?
Right now I have these expenses:
Gross income every 2 weeks: $2200
401K contribution every 2 weeks: $210
Taxes every 2 weeks: $575
Net Income every 2 weeks: $1415
$1415x2 = $2830
Rent and utilities: $1450
Toiletries: $20
Food: $125
"Going out" dates/socializing: $150
Student loans: $475
Gym: $35
Netflix: $8
Cabs at night (safety, as needed): $40
Subway monthly: $110
Haircuts: $20
Clothing: ?
I should be getting a 5% raise in August which I will add to my 401k savings. My loans are at pretty good interest rates at the moment.
Current savings:
401k: $77000
Savings account: $3500
Student loan balance: $54,000
I am doing okay for now, but I feel like I'm treading water. I have to stay at this job for a year or two to get the experience needed to move on.