Moving back in with my parents at 23 was an extremely bittersweet decision. But making this choice was a huge financial success for me.
I was renting a place in New York, had a good job, and was loving my city life. I could’ve stayed there for a decade—nobody was begging me to come home, and I was living a fairly comfortable lifestyle each month. But because my student loan payments are on a 20-year-term, things like a big savings account, owning a home, or buying a car may not have been available until I was 43 years old.
That scenario was unacceptable to me.
So, I decided to eat some humble pie, suck it up, and live with mom and dad while making prepayments on my student debt. Now, if I continue at the rate I’m going, I’ll have all of my private loans paid off in just 5 years. That’s still a long time, but it’s nice knowing that I’ll get there—and that I made a hard choice to enable this success.