Moderate Insanity/Saving money versus sanity/living from paycheck to paycheck?
 

Which is better and why?

Currently I'm living at home with my parents after graduating college. They sort of drive me insane. I'm considering moving out to save my sanity but I'd probably be living paycheck to paycheck. So I plan on saving up for a year before moving out. So should I move out now and deal with money problems or wait a year and have a cushion?

IMHO I would wait as long as you can and have some cushion.

From your previous posts if you can handle living at home, do so.

remember 70-20-10 rule....

spend 70% of your income on what it takes for you to live... that's gas, car, rent, electricity, basic groceries... stuff that you need to live and survive.

20% should be some money to make you at least feel like you work for something besides paying bills. Enjoyment money... this is movies, going out to dinner, vacationing, traveling, READ: TREATS!

10% savings

take the 10% out first... put that away... make the rest happen.

Thanks for the advice!

Yeah, stick around a bit and build up some "fall back on" cash. It'll make life a bit easier.

It sounds like home isn't fun; but from a strictly practical standpoint, build the cushion first, then move out.

The term cushion has significance; strictly speaking, it's an object that will protect you if you fall. Life and the economy are unpredictable right now. You might fall; we all might. So when you go out on your own, keep your cushion with you always.

Move out. Save your head.

Would you rather move out, and then move back in as soon as you get one of life's unexpected predicaments come up, my friend?

Save...

Budget, my friend. Budget. I don't touch upon it now, becuase it's late, but I may revisit it later...

Good luck!

I've done the whole living from one paycheck to the next. It's not pretty. In fact, it's super stressful. I recommend staying with your parents, but if you've got a job that allows you to get by, go for it.

Side note: You don't have any friends who'd let you crash at their place when your parents drive you insane?

Yes to all of the above suggestions.

But remember, if you are staying to save
you better SAVE
don't spend any money, because otherwise you might as well move out now.

The only way you HAVE money, is NOT to spend it.
And that was a hard lesson to learn for me.

Because sooner or later, your parents will say bye-bye,
and then where will you be?

BTW, no matter how much you prepare yourself,
you won't know what it's like until you are actually out there,
and then you will find out the real issues of life.
Food & Shelter, and making enough to keep your sanity at the same time.

Good luck.

I moved out at 17 and I am living paycheck to paycheck myself, no room for saving 10% yet, but I hope I get there soon..

Oh well. Me and my wife are happy, and I guess that's what counts.

Like others have sort of said, don't think that just because your situation will be different, you won't still have problems to deal with. Living from paycheck to paycheck can cause a lot of stress. Real stress. Being driven slightly insane by your parents is a lot better than wondering if there's going to be enough money to make rent, pay bills, and eat food. Before you do anything, think very carefully about the possible consequences, and then, only then, make a well thought out decision.