I'm Still Broke

As salaam alaikum,

Wow. Reality check in my face right now...

I'm making up a projected budget for my living in Seattle in June, iA, based on my income, my estimated income after taxes, and projected amounts I'll pay for car notes and the like.

I made up my little budget in Excel, made a bunch of projections for things I have no idea about, like car notes, car insurance, gas mileage, put them all together and discovered...

...I will not be able to afford my current budget, haha!

And it's not like take away things like the monthly gym membership or cancel Netflix. It's like, spend about $200 less on an apartment and be content with a shoebox kitchen with a rinkidink stove, which I don't think is something I'm willing to sacrifice.

Well, dang!

It's not like I'm living outside of my means now. I pay $850/mo for my share of a two bedroom. I don't own a car...I take the bus and the T (the subway) everywhere.

These facts alone subtract about $1400 from my current monthly budget as it stands...if I were able to pay less than $1000 for a decent place and if I didn't own a car that I'd be paying a car note on...

Then, the other big thing is the $757 I'd be having to pay monthly as part of my income-based repayment for educational loans. Yes. I know, ooooh, ribaaaa, ooooohh. You know what, though? God commanded us against riba and all other sins for our own good, here and in there Hereafter. Here and in the Hereafter, got it? If someone is drowning in loans accruing interest, start to drinking from the financial stress, end up on the streets, and overdose on drugs and die...or even if they struggle additional stresses from debt in life and struggle with their faith because of it...it's not good here, it won't be good to your soul cumulatively as you go along. That's how I see it. I don't see my taking out educational loans as a tick mark next to my name or an automatic ticket to spend time in "thermal rehabilitation," as my mother calls it. Islam is much more organic than that. Pretty much all sins, you can rationalize the detriment to your soul without them. In this country, you can't avoid some at some point, even though you don't noise about it. What do you do?

Remain prayerful and seek forgiveness every day like we're supposed to, and guidance to the path that is more right...

However, feeling the pain of loan repayments even after some loan forgiveness by my school gives me insight into why riba is haram.

Digression. So, I had planned to start paying back my loans as soon as possible so more interest won't capitalize on, increasing my riba and overall just becoming a hassle in my life. But now my budget in Seattle is now nearly $2200/mo greater than my budget here. Add to that my attempt to save and invest money (halal Roth IRAs and savings accounts through the sharia-compliant branch of University Bank in Ann Arbor, anyone?). That's at least $200/mo more...$2400/mo, it turns out, above my current living standards.

There are other things to take into account, to, like the fact that I've never had to pay for heat in my utilities...I will not be freezing in Seattle. My place must be at least 68F while I'm there...

Twenty-four hundred dollars a month is a lot more money than I'm used to spending or being responsible for paying bills. That translates to $28,800/yr, which is more than half of my income after taxes as a resident...

Ay ay!

...

So, after playing with my budget, I determined that either I will not be able to begin paying off student loans in residency, or I will not be able to afford a car. Simple as that. It's either loans or car.

...this is why riba is the devil!

So, after all of the rejoicing about actually having an income, once you factor in the fact that I will have a car and have educational loans to mind, at the end of the month...

I'm still broke!