Moving Up And Out

B and I decided to move in with his parents in February. We live in a very expensive city a few miles away from Washington D.C. We had our own apartment but quickly realized that $1,400 rent for two new professionals right out of college wasnt really cutting it. We were getting by but we wanted more than just “getting by”.

It wasnt really the amount of money we were spending. The issue was how little we got for our money. We lived in a 650 sq. ft. apartment. No balcony and no amenities. We were running out of room and eventually felt trapped in our tiny place. We love the freedom but this area was killing us financially. Everything is so expensive…you dont get much for your money.

Over the course of a few months we racked up around $7,000 in credit card debt. I honestly have no idea how it happened. We were always really good with our money, never spent for things we could afford. Until we got that card. I think we used the wedding and the apartment as an excuse. We used that card to book our honeymoon, buy a couch and many other things.

Before we realized it we were 7 grand in debt with an apartment we couldn’t really afford. Moving in with the in-laws was the hardest, most grown-up choice we ever had to make. It was a big punch in the ego. I think B really took it hard. I think it just made us feel embarrassed, like we can’t be a real married couple who can take care of ourselves.

When we decided to move back home our goal was to save money and pay down our debt. In the past 6 months we have paid off $4,046.74 of our credit card debt and have $3,340.70 left to go. We havent saved much at all but we havent added anymore debt. Anything we have bough within the last 6 months we have had the money for.

I think August and September will be really good months financially for us. I get paid 3 times this month and B has some extra hours owed to him from his job. We don’t really have big travels or big expenses so we will hopefully be able to save a lot.

Our goal is to start looking for our own apartment by the end of september. We are hopefully looking in an area 45 minutes from the city. The location is still on the high side but nowhere near what it is where we are living at now. I have found that rent is around $1,000 for a 1 bedroom apartment. Most of these include a balcony and lots of amenities. Our commute will be a little longer but I have been looking for a job in the area we want to move to for a while now. It’s hard to find a job but hopefully soon something will come up.

I feel so much better about where we are financially. Do we have more money than we did then? No. But we have to tools and the knowledge now. 6 months ago I started reading PF blogs and have learned a lot. They have really motivated me to get our finances back on track. We now know how to set goals for ourself. We know how to save and how to spend our money wisely.

I am so grateful for everything my in-laws have done for us….but now it is time for us to be on our own.

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6 thoughts on “Moving Up And Out

  1. DC is an extremely expensive city to live in, and so are the surrounding areas. I’ve found that Maryland is less expensive than NOVA but sometimes doesn’t offer as much for 20-somethings. Thankfully we’ve got the metro, so depending on where you need to/want to go it can be really advantageous!

    Good luck on getting that last little bit of your credit cards paid off and being able to move back out on your own again!

  2. Glad your family was able to help you. My daughter will be living at home until she gets her grad loans paid off, and her car. She will be paying us rent, however, as I think that’s important. You should knock out the rest of your debt before you move though! It will really help!

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