"How can I save for a wedding when I'm single and living at home with my parents?"

Dear Vice Column,

I'm a 24-year-old software developer who has just started my career and have $100,000 in student loan debt. I want to pay off my debt quickly but also want to save for a down payment on a house and a wedding. I'm not sure how to balance my competing financial goals and I don't even have a romantic partner, mostly because I live at home with my conservative parents.

- Love-Struck Developer

Dear Love-Struck Developer,

It seems like you're feeling a bit stuck in terms of your finances. Don't worry, you're not alone! Many recent graduates face similar challenges, especially when it comes to balancing debt repayment and saving for the future.

First things first: you should be proud of yourself for even considering how to prioritize your financial goals at such a young age. You're already ahead of the game! When it comes to balancing competing goals, it's important to remember that it's a marathon, not a sprint. You don't need to achieve everything all at once, and that's okay.

My advice to you would be to start with your student loans. These are likely your biggest financial burden, and paying them off quickly will help you save money on interest in the long run. That being said, don't forget to take advantage of any employer-sponsored retirement plans, especially if they match any 401k contributions. Contributing to these early on can really pay off in the long run.

When it comes to saving for a down payment on a house or a wedding, it's important to remember that you don't need to achieve these goals right away. In fact, you might find that your goals change as you progress in your career and personal life. Instead of putting all your money into these goals right now, consider setting aside a smaller amount each month and investing in experiences that will enrich your life and potentially lead to meeting a romantic partner. For example, travel, hobbies, and volunteering are all great ways to meet new people and expand your horizons.

Remember that it's important to balance saving for the future with enjoying the present. You're young, and you deserve to have some fun and take risks if you're able to afford it. If privacy and being away from the watchful eye of your parents is important to you, then spending money to rent a place of your own, or with roommates, could be a worthy personal investment. Just be mindful of your spending and remember that every dollar you save now is a dollar you can put towards your goals later on.

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