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I live in Illinois and work here too. I understand your pain. I have my master’s so my loans for college are 69,000. Even trying to get some loan forgiveness still leaves me feeling overwhelmed and terrified of buying a home. I rent currently and my salary is about 39,000 net pay and Illinois is crazy expensive. I also pay rent, a car loan, my college loan and insurance. Plus other bills for living necessities. I’m 29 and nowhere near close enough to saving for a down payment so I can buy a house.
It's sad but somewhat comforting that you and I are in similar positions. Alabama isn't anywhere near as expensive as I'd imagine Illinois is, but my net pay ends up being about 30k annually. Being able to afford a house and car payment simultaneously seems like an impossible feat, but I'm trying to pay off my debt before making any moves on either of those things.
Amen. This speaks to how our society needs to show more respect for the profession and pay our educators in accordance with the incredible value they provide all of us.
We don’t have a magic bullet, but my colleague Kelley has written some excellent pieces that I like to share with individuals who are in the very beginning stages of pursuing homeownership.
https://www.landed.com/blog/how-to-take-the-first-step-toward-financial-wellness
https://www.landed.com/blog/headed-in-a-new-direction
We’ve also curated a list of national resources that have been helpful to school employees we’ve worked with along the way. (If anyone here has resources you recommend we add to this national database, or resources specific to Oklahoma, please let us know!)
https://www.landed.com/national-resources