Author Topic: Living within biking distance to work vs. paying off low interest student loan  (Read 552 times)

sizzlinkola

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I'm at a standstill whether to move within biking distance to work or put that money towards my $17k, 3.4-3.8% student loan. Luckily, I don't have to make min payments until 2021 (paid off my > 4% interest student loans). I'm also maxing out my 401k, HSA and Roth IRA.

My commute is 1.5 hrs, 40 mi roundtrip and it's not that bad especially since I own a Prius now. I could listen to podcasts and audiobooks to make the time more productive. Although, it'd be nice to have those hours back.

I found a relatively cheap 1 bedroom apt and it is very tempting. I've always wanted to have my own place as I've had roommates for the past 6 years. I just feel guilty throwing money out the window to live more luxuriously, whereas I could get myself sooner out of debt. And I'm not sure if I'm chasing this false sense of happiness of having my own place.

Joel

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Could you not live with roommates closer?

sizzlinkola

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Could you not live with roommates closer?

The apartment is unusually cheap that it's around the same rent for living with roommates in the area.

Even if it was cheaper, it would still be more expensive than my current rent. Thus, it's more of a question of am I willing to spend more money to live within biking distance, roommates or not.

Spruit

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Can only speak from my own experience. Boyfriend and I moved from 400 euro/month rent + 1 hr car commute (and 1 hr back again, more during peak traffic hours) to 700 euro/month rent + 20 min bike commute. It was one of our better decisions so far, absolutely worth the money. I've been lucky to find a job within biking distance as well.