Archive for July 19th, 2007

Renting. AKA: Where did all my money go?

I have been living in apartments/dorms since I was 18. That’s seven years. That’s…. a lot of living money. Let’s break it down:

  • Dorm: 9 semesters at $3000/semester = $27,000
  • Summers: 9 months at $400/month = $3,600
  • Years: 36 months at $600/month = $21,600
  • Total: $52,200

    ((All rental prices include utilities and food.))

    And actually these aren’t bad rents prices. I’ve always shared expenses with roomates and lived in a pretty cheap state.

    So, if I had been living at home the past seven years, I would certainly have enough to at least consider putting a down payment on a permanent dwelling. It is quite more savings than I have now.

    Which brings up a question, some people argue that children who live at home through their early twenties are “financially dependent” on their parents. While this may be true during their stay, they end up, in the long run, being much more financially independent by not throwing money away on bad landlords and overpriced cable bills. They are able to save money and can be proud that they own a place.

    On the other hand, I have been financially independent for the past seven years. Which means that I am 100% self-sufficient and know exactly what it takes to live on my own. Instead of being twenty-five and having the realization that food does not automagically appear in the refrigerator. Perhaps it is this reality check that makes me not cringe so much when thinking of all the money I have delved into apartment complexes.

  • 3 comments July 19th, 2007 life