I recently got a new job with a raise big enough for me to get a studio. I am able to contribute 6% to my 401k and get health benefits from my job and still have 700-900 leftover to go to emergency savings depending on if I have dr appointments for the month.
I have had somewhat bad luck with renting rooms in homes over the past year just due to incompatibility/pest issues. I also really love cooking and want to finally do that in peace. I haven’t had a great experience once I left college, and I learned how awkward I am in someone’s home haha.
I know I could probably just try living alone for a bit and see how it goes, but how do you guys not feel bad about investing in yourself vs being able to put away a more significant amount towards savings? I might have to financially support my mom in a year or two and I’m just fighting between prioritizing myself or hanging on with roommates for a little longer. I was getting to the point where I just want my own space.
I’ve also never rented anything this high before (it’s about 29% of my gross income) so I also feel bad for shelling out the money but again, my savings is still decent. I just always am thinking “oh I can save more”
TIA ❤️
How to not feel bad about investing in yourself?
byu/Strange_Clothes_4382 inFrugal
Posted by Strange_Clothes_4382
7 Comments
I’d invest in my peace of mind asap. As long as you’re not overextending the budget, get the new place and invest in cooking at home. If you’re still able to save and meet your other obligations, then make sure you’re taking care of you.
Yeah don’t rent rooms. Did that shit for awhile and ultimately ended up being unhappy every time.
Your own space is worth the extra investment. Just chill and pay your rent and obey all terms exemplified in your rental agreement and you should be fine.
Feel bad how? Identifying the specific bad feeling you’re having is gonna be important in ameliorating that feeling. I think it also matters specifically how much money you’d be saving. For myself, I don’t feel it’s worth it to struggle through having roommates just for the $4000 I could expect to save per year. For $12000 though, maybe that could be motivating. Whatever you choose though, you’re allowed, there’s no Blessed Exchequer sitting up in heaven tracking your transactions. Just make sure your lifestyle is sustainable so that you can keep having what you want for years to come.
29% of income is completely normal for rent, and having your own space is a fantastic thing. I wouldn’t move into a shitty loving situation even if it were free. Mental health comes first
I try to treat myself, reasonable.
For instance, I love gaming I treat myself a slow $1000 PC upgrade every 8-10 years or so.
(Unless I find a crazy deal).
Can’t always be saving and not enjoying some of it, don’t want to be 100% a slave to the system.
Life’s short.
Having a living space you’re not stressed living in and actually enjoy being in is really priceless. Having bad roommates or a pest infested living space can cause major disturbances and additional costs for you in the future – that can affect your physical and mental health, which can also affect your work. It sounds like your mom may also need your help, so you’d have another person dependent on you being healthy and financially stable.
Taking care of yourself is the first step! And from there you can make sure to do the other things you need and want to do.
look at the total cost, look at the total gains, then figure out if it’s worth it to you