You should live with your parents for 2 years. You can feasibly pay off your loans in your desired time frame if you have 2k/mo. to put toward them. That's the only way. Reducing expenses/getting a roommate would also help, but nothing would help more than not paying any rent at all for a period of time.

1. Save up 4-6 months worth of expenses (rainy day fund)
2. Begin saving for retirement now. Start contributing to company 401k / get free money from Company through match when it becomes available
3. Continue to defer loan repayment
4. Move home and save money for 1-2 years/get roommates
5. Cut phone bill, brows, nails, feet or at least space it out to every 3-4 months

Agree with others. Doing pretty well. Eliminate nails, Try to cut phone bill in half and consider roommate or living at home for year or two until you can build up your savings.

You said your take home pay is $4800 a month on roughly $8000 a month salary. Without contributing to 401k or pension, that seems like a lot and your take home pay should be a little higher. Can you give a little more breakdown on your deductions? You may be losing money there that you could be getting.

Do you pay a high health insurance premium? If you do and since you're young, you may consider switching to a high deductible health insurance but I don't think that's for everyone.

You said you are a contractor, do you get a W-2 or 1099? If it's the W-2, then you have to pay the extra employer FICA tax of 7.7% which is contributing to your lower monthly take home pay.

It sounds like you have little in retirement. Make sure you start contributing some to your retirement now, even if it is just a few hundred dollars a month. I'd do this over paying extra to pay off your loans very quick. Take advantage of your companies match when it is available. Right now, you need to build up some retirement and better to pay off loans in 5-10 years.

Op.

I'm definitely looking at roomies, for an easier commute (work in Sterling). My parents live in Prince George's Co, but idk if that's a commute I could handle.

Yes, some of the grooming is due to me being on the dating market lol. Would love to

Anonymous wrote:Hey guys! I am a single, late 20s woman living in the Tysons/McLean Area. I recent just switched companys. While I love the environment, I took a slight paycut ($105k to 95ish K)

Monthly budget
Take Home- after taxes, healthcare, etc- about 4800
Rent- 1716
Tuition (grad school part time)- $580/month
Cell phone- 140 (w/AT&T)
Utilities + Internet- 100
Gas- 120
Groceries- 200
Grooming- 110 (brows, nails, feet)

Debt
No car and credit card debt
loans- about $35000k undergrad, no grad debt

Any suggestions on where to cut. My lease is up in April...not certain on renewing lease, though its close to work.
My parents live in the area as an option.

Do your parents live within a nice tight circle drawn around Tysons? Are they empty nesters and retired? Load the nest. If you were mine I'd open the option. Plus go on their cell phone plan, do your own grooming.

Would you get a roommate? I always had roommates when I lived in NYC and it was fun to have someone to go out with all the time. of course you have to get along. I actually had a roommate until I got married. I earned 100k base plus bonus (20-100k).

NP.

I also think OP is doing pretty good. She's able to save $1,000 per month and she's in her 20s-at the beginning stages of her career and anticipating a growth in salary. I think it's okay for her to keep up the grooming, dinners and shows with single friends, etc.

The 2 main recommendations I'd give are for the cell phone and rent. I pay $80 per month with unlimited everything (talk, text, data) with T-Mobile. I may check into Sprint however to see if I can get pp's deal. In any case, you can clearly do better on the cell plan.

If you can live with your parents, I'd do so and either save that money or throw it at my student loans. (Maybe throw $1,000 at the loans and save the rest??) Otherwise, a cheaper place and/or roommate would be great.

Anonymous wrote:Op I earn the same as you and I'm single as well. Hope this helps.

Anonymous wrote:Hey guys! I am a single, late 20s woman living in the Tysons/McLean Area. I recent just switched companys. While I love the environment, I took a slight paycut ($105k to 95ish K)

Monthly budget
Take Home- after taxes, healthcare, etc- about 4800 = My take home after taxes, medical, retirement ( max contribution), savings( $500 monthly) is $4400
Rent- 1716 = My rent is 1500 Alexandria
Tuition (grad school part time)- $580/month = N/A completed in 2011
Cell phone- 140 (w/AT&T) = $65 with Sprint. Unlimited plan
Utilities + Internet- 100 = No internet. No water bill. No cable. Netflix $10. Electricity is $35ish. If I need to use the internet I used my apartment club house wifi or take my laptop to work.
Gas- 120 = $50ish ( 720 sqft apt)
Groceries- 200= $100ish per month. I buy large quantities at a lower price and freeze them so that the food doesn't spoil. When I cook is enough to last me for a week for lunch.

Grooming- 110 (brows, nails, feet)= I do my own grooming at home. I have tons of OPI nail polish. I use my nail grooming kit I purchased from Wal-Mart. Supplies per month for hair maintenance is $30ish

Debt
No car and credit card debt= same as me

loans- about $35000k undergrad, no grad debt = I'm still paying back at $550 per month and I'm the income based retirement plan

Any suggestions on where to cut. My lease is up in April...not certain on renewing lease, though its close to work.
My parents live in the area as an option.

How are you doing Netflix without internet?

Personally, I think OP is doing well enough in life she can have the internet in her apartment. It's basically a utility. Might as well tell her to cut off the water.

Obviously she can cut a bit off the cell phone - maybe even cut it in half. Grooming could also go down by a bit - but seeing as she's not starving, and is a single person in her 20s, it seems reasonable to expect some $$ to go toward looking good.

But the big expense is rent. This area is expensive, so to save there you'd need a room mate.

Anonymous wrote:Op I earn the same as you and I'm single as well. Hope this helps.

Anonymous wrote:Hey guys! I am a single, late 20s woman living in the Tysons/McLean Area. I recent just switched companys. While I love the environment, I took a slight paycut ($105k to 95ish K)

Monthly budget
Take Home- after taxes, healthcare, etc- about 4800 = My take home after taxes, medical, retirement ( max contribution), savings( $500 monthly) is $4400
Rent- 1716 = My rent is 1500 Alexandria
Tuition (grad school part time)- $580/month = N/A completed in 2011
Cell phone- 140 (w/AT&T) = $65 with Sprint. Unlimited plan
Utilities + Internet- 100 = No internet. No water bill. No cable. Netflix $10. Electricity is $35ish. If I need to use the internet I used my apartment club house wifi or take my laptop to work.
Gas- 120 = $50ish ( 720 sqft apt)
Groceries- 200= $100ish per month. I buy large quantities at a lower price and freeze them so that the food doesn't spoil. When I cook is enough to last me for a week for lunch.

Grooming- 110 (brows, nails, feet)= I do my own grooming at home. I have tons of OPI nail polish. I use my nail grooming kit I purchased from Wal-Mart. Supplies per month for hair maintenance is $30ish

Debt
No car and credit card debt= same as me

loans- about $35000k undergrad, no grad debt = I'm still paying back at $550 per month and I'm the income based retirement plan

Any suggestions on where to cut. My lease is up in April...not certain on renewing lease, though its close to work.
My parents live in the area as an option.

It did, thank you so much. The gas I put was for my car.

Sorry for the many typos I meant Income-Based Repayment plan.

Op I earn the same as you and I'm single as well. Hope this helps.

Anonymous wrote:Hey guys! I am a single, late 20s woman living in the Tysons/McLean Area. I recent just switched companys. While I love the environment, I took a slight paycut ($105k to 95ish K)

Monthly budget
Take Home- after taxes, healthcare, etc- about 4800 = My take home after taxes, medical, retirement ( max contribution), savings( $500 monthly) is $4400
Rent- 1716 = My rent is 1500 Alexandria
Tuition (grad school part time)- $580/month = N/A completed in 2011
Cell phone- 140 (w/AT&T) = $65 with Sprint. Unlimited plan
Utilities + Internet- 100 = No internet. No water bill. No cable. Netflix $10. Electricity is $35ish. If I need to use the internet I used my apartment club house wifi or take my laptop to work.
Gas- 120 = $50ish ( 720 sqft apt)
Groceries- 200= $100ish per month. I buy large quantities at a lower price and freeze them so that the food doesn't spoil. When I cook is enough to last me for a week for lunch.

Grooming- 110 (brows, nails, feet)= I do my own grooming at home. I have tons of OPI nail polish. I use my nail grooming kit I purchased from Wal-Mart. Supplies per month for hair maintenance is $30ish

Debt
No car and credit card debt= same as me

loans- about $35000k undergrad, no grad debt = I'm still paying back at $550 per month and I'm the income based retirement plan

Any suggestions on where to cut. My lease is up in April...not certain on renewing lease, though its close to work.
My parents live in the area as an option.

Oy. You are in your late 20s, with $35k student loan debt which you want to clear in 2-3 years - but you aren't paying down the loan (which means you are capitalizing your interest)? Stop that now. Pay the $1000 per month towards the loan - or at a minimum, pay the interest. When your lease is up, find a roommate - or, if it'll work, store your furniture and live at home until the loan is cleared away.

Do you know what your student loans would be if you weren't deferring them? If you can, I would stop deferment and pay the loans. The interest is just accruing.

Anonymous wrote:

Anonymous wrote:OP Again,

I have only been making my salary for about 8 months now, for a clearer picture.
When I signed my lease, I also spend money furnishing it on my own
So funds went to bedroom set, living room, dining room, and kitchen items

Get a roommate. that'll cut your rent in half. Stop with the nails. You didn't say what you're spending on vacation, nights out, brunches, movies, books, magazine subscriptions, doctor's visits, pets, etc. I highly doubt you sit at home all evening every evening tapping your manicured nails against your newly bought coffee table.

Lol no, I have a decent social life . I go to DC often for dinner and brunch with single friends. Occasional concert or basketball game.
Only travelled twice to visit siblings in Chicago and Raleigh.

Anonymous wrote:OP Again,

I have only been making my salary for about 8 months now, for a clearer picture.
When I signed my lease, I also spend money furnishing it on my own
So funds went to bedroom set, living room, dining room, and kitchen items

Get a roommate. that'll cut your rent in half. Stop with the nails. You didn't say what you're spending on vacation, nights out, brunches, movies, books, magazine subscriptions, doctor's visits, pets, etc. I highly doubt you sit at home all evening every evening tapping your manicured nails against your newly bought coffee table.