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I recently secured a six-figure job opportunity, specifically earning $106,000 per year, which allows me to work fully remote. As a 26-year-old single male, I have been living in and around the Washington DC area for a few years. With this newfound financial stability, I am in the process of making significant life changes.
To provide some context, prior to securing this position, I was earning approximately $35,000 annually. Since then, I have taken steps to refinance my private student loans, reducing my interest rate and now making $360 minimum monthly payment over five years. Additionally, I have a little over 1 year left to pay off my auto loan, which is $300 per month.
Given my desire to rent a studio or 1-bedroom apartment in either DC or Arlington, ranging in price from $1,700 to $1,900 per month, I am seeking advice on how to properly allocate my budget. While I had initially considered seeking a roommate, the fully remote nature of my job makes me inclined to pursue living alone.
As such, I would greatly appreciate any insights or suggestions from those with more experience in managing finances. Thank you for your assistance.
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- 1 year ago
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