I moved back in with my parents at 25. I'm saving $3,000 a month and paid off my student loans in 1 year.

Isabella Szklany moved back in with her parents at 25 to save money instead of renting an apartment. Living at home saves her $3,000 a month, which she deposits into a high-yield savings account to address student loans and future goals. The New York metro average salary is around $84,500, but a comfortable lifestyle requires about $136,500 following a 50/30/20 rule. People between those salaries often live with roommates and struggle to both pay debt and save. Szklany learned saving early, earning money as a teen and accumulating substantial savings before and during college and grad school. She carried $18,000 in student debt upon returning home but prioritized aggressive saving.

"The average salary in the New York Metropolitan area is around $84,500 a year, but to live comfortably, you should make $136,500, if you follow the 50/30/20 budget rule, where 50% is spent on needs, 30% on wants, and 20% for savings. If you're someone between these salaries, you likely live with roommates and spend most of your income on daily expenses."

"My parents cut me a deal: if I could save up $50, my dad would match it. I could have her. However, he explained to me that if I spent $50 on an American Girl doll, I wouldn't have that money to spend on something else I might want more. This lesson stuck with me - if I could save and spend my money wisely, I could afford my needs and wants."

"By 18, I had successfully saved up $12,000 before starting college. When I graduated at 22, I had saved up $35,000 to get me through grad school in London. In 2024, with a master's degree and $18,000 of debt, I was back in my childhood room and couldn't wait to bring my apartment vision board to life."

Read at Business Insider