Roommate/Moving Home? Would it be worth to have a roommate and split the cost of rent while you are paying off your debt? Moving home while you pay off your debt would be a good idea. What would be your Mom’s expectations/conditions? I lived with an aunt and uncle for 1.5 years and my parents for another 6 months before “moving out” after college.
I lived with my parents for a bit over a year after graduating college. While it would certainly be a money saver (rent, groceries, etc.), I would really prefer to be out on my own. I think I'd rather look back on my 20's knowing that I lived with a bit of freedom... they stopped with a curfew once I went to college, but I still got the whole "we'll be waiting for you until you get back...." I do have a wonderful relationship with my parents, but I'm worried moving back in would strain it due to all of our stubbornness.
Budget? What is the breakdown of your budget? You make $2,640 after taxes and only list $1725 ($1.2k rent, $325 SL, and $200 in car insurance) in expenses. Groceries, Eating out, Entertainment, Gas, Car Repairs/Maintenance, etc. would be helpful to see if there are any other areas you could trim down during this time of debt reduction. Consider using https://www.mint.com/ for tracking your expenses.
I'm on mint.com religiously, though the budgeting tool has been giving me some attitude lately. Out of curiosity, is anyone else having problems with categories you've made disappearing then reappearing? I'm doing my best to follow a zero-sum budget, and it's definitely been really helpful in showing me where my money's going. When I first started, I had no idea that I spent $80 eating out in one month!! For a recent grad like me, that's a heck of a lot of money. Almost everything is budgeted, and I'm usually under budget in most categories (except eating out... again. Damn.).
Car Insurance I believe $2500 is for car insurance for the year is a bit expensive… That’s $1,200 every 6 months or $200 a month. Do you take advantage of the discount (usually 2-5%) for paying the bill every 6 months instead of monthly? Have you considered shopping around for car insurance? When was the last time you got a car insurance quote? We had State Farm and paid almost double what we pay now through Progressive. We try to get a quote from insurance companies every year just to make sure our plan is competitive.
You're telling me!! Last year my premium was $1980 or so for the year through Liberty Mutual. Like I mentioned, in the past year I got into one no-fault accident and one failure-to-obey-a-traffic-device ticket, and I'm under 25, and my current provider still attached my good-student discount for last year, even though I wasn't a student anymore. Liberty Mutual will get their price to me by mid-Feb. Right now, Progressive is the front runner at $1248/6mos (includes a slight discount for paying the balance in full at the start of the contract), plus they have that nifty little device thingy that you plug into your car and will hopefully discount me a bit more after 6mos (I stopped speeding after a certain failure-to-obey traffic ticket).
State Farm quoted me at $2700 or $2800 for the year... I forget, I saw the price, laughed, and closed the browser. I'm hoping LM will get back to me with a good deal, and I'm fully ready to call them and haggle them down hopefully. I'm not thrilled with their customer service (they dropped my coverage a weekend I decided to go away to the middle of no where because I "failed to give them the paperwork regarding the previous owner" when I bought the car and insurance FOUR MONTHS earlier. Except the car was bought new and I gave them the bill of sales. In any case, I had problem after problem with them since then).
Sorry for the long winded rant. I'm still shopping around, and my coverage lasts until mid-March, so I still have a bit of time left.