onlookerdelay
New member
Background:
I hold two degrees both of which are essentially useless. I work in academia and the pay is barely enough to keep the lights on. I wanted out in the long term so I can build financial security, currently being able to save consistently involves monitoring every penny out but even still I’m not putting away much. Once student loans are back it’ll be less than 200 a month saved.
I’m at the point where I know eventually that with rent hikes yearly I’ll probably get priced out of my apartment (1bedroom in a small suburb). If not this year then next? I’ve been job searching for about 7 months within my industry and either I lose out to internal candidates or the pay is too low to compare to the HCOL area the school is in.
I want to go back to school for something technical (information technology or data science) but even with my work tuition benefit of 5250 per year it would take 5 total years to finish a masters degree and financially I don’t think I can sustain my life for another 5 years with this job.
Therefore, I’m at this point either getting a roommate, however even with the saved cost it looks like trying to finish the masters degree in 2 years would likely require a significant amount of my own money which could put me in a similar if not worse financial Situation (but now with a roommate)
Or I could move back home for 2 years. Save around 33k, pay my mom some room rent (she would be grateful for the money-didn’t ask for it), and pay for my schooling out of pocket outside my current institution (I.e I wouldn’t get the tuition benefit) but the school would be 100 percent online and I could go to school in anonymity so it’s not obvious I’m trying to jump ship.
My goal would be to finish the degree in 2 years, have a savings of around 33k (current savings is less than 2k), start an entry level job hopefully making at least 60-65k (I make 47 k now) and get my life back on track again.
I don’t have a lot of options, the living with parents idea has me largely insecure about having to move back after I’ve been established but it looks like the quickest and most direct way out of my current industry and into a field where I could build some wealth.
Any thoughts would be wonderful, have you gone through this yourself?
Additional notes:
I don’t have any kids and I’m single
I hold two degrees both of which are essentially useless. I work in academia and the pay is barely enough to keep the lights on. I wanted out in the long term so I can build financial security, currently being able to save consistently involves monitoring every penny out but even still I’m not putting away much. Once student loans are back it’ll be less than 200 a month saved.
I’m at the point where I know eventually that with rent hikes yearly I’ll probably get priced out of my apartment (1bedroom in a small suburb). If not this year then next? I’ve been job searching for about 7 months within my industry and either I lose out to internal candidates or the pay is too low to compare to the HCOL area the school is in.
I want to go back to school for something technical (information technology or data science) but even with my work tuition benefit of 5250 per year it would take 5 total years to finish a masters degree and financially I don’t think I can sustain my life for another 5 years with this job.
Therefore, I’m at this point either getting a roommate, however even with the saved cost it looks like trying to finish the masters degree in 2 years would likely require a significant amount of my own money which could put me in a similar if not worse financial Situation (but now with a roommate)
Or I could move back home for 2 years. Save around 33k, pay my mom some room rent (she would be grateful for the money-didn’t ask for it), and pay for my schooling out of pocket outside my current institution (I.e I wouldn’t get the tuition benefit) but the school would be 100 percent online and I could go to school in anonymity so it’s not obvious I’m trying to jump ship.
My goal would be to finish the degree in 2 years, have a savings of around 33k (current savings is less than 2k), start an entry level job hopefully making at least 60-65k (I make 47 k now) and get my life back on track again.
I don’t have a lot of options, the living with parents idea has me largely insecure about having to move back after I’ve been established but it looks like the quickest and most direct way out of my current industry and into a field where I could build some wealth.
Any thoughts would be wonderful, have you gone through this yourself?
Additional notes:
I don’t have any kids and I’m single