Author Topic: move out and live closer to work?  (Read 1985 times)

mohawkbrah

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move out and live closer to work?
« on: August 23, 2017, 11:52:17 PM »
Currently live with parents paying bit of money every month

Flat up for rent where i work (school) i feel like going for it but dont know rent yet, but will be low i've been told. Would shorten my commute to less than a minute, would have more independence.

Downside, would slow down my FIRE significantly because i wouldn't be saving as much.

what would you personally do? buying isnt an option here as imo everythigns overpriced where i live

Linea_Norway

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Re: move out and live closer to work?
« Reply #1 on: August 24, 2017, 02:46:36 AM »
How long is your commute and do you drive?
How much do you spend on fuel, on owning the car itself + maintenance, insurance, loss of value, etc. If you move, you can live without a car, which saves you a lot.

Independance is nice.

Remember that you will get a higher cost of things like washing machine and food. You might need to visit your parents from time to time. What does that cost?

2Cent

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Re: move out and live closer to work?
« Reply #2 on: August 24, 2017, 02:52:35 AM »
If you think you'll be working there for a long time I would recommend taking the flat. Being 21 and employed means you'll probably will move out soon anyway. If you can get a good cheap flat next to your work, you should not miss that opportunity. Also, independent living is healthy for you as a person and for your relationship with your parents.

SpreadsheetMan

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Re: move out and live closer to work?
« Reply #3 on: August 24, 2017, 03:11:39 AM »
FI is important, but you need to have a sense of proportion and live your life while getting there.

Look at the numbers and see how it looks for renting and what savings rate you can still achieve.

2Cent

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Re: move out and live closer to work?
« Reply #4 on: August 24, 2017, 03:33:11 AM »
FI is important, but you need to have a sense of proportion and live your life while getting there.
+1
Especially since you're so young you shouldn't focus too much on FIRE calculations as it is far away. Just live frugally and save what you can. When you get close you can start calculating. Else it's just too demotivating if you see that FIRE is still decades away and your starter salary impact is so small.