How a young finance manager balances big bills in a pricey area

Paul, a 29-year-old finance manager in Mansfield, earns $120, 000 a year but doesn’t live in Boston. Instead, he’s in Cumberland, Rhode Island, a cheaper spot just outside Massachusetts. His biggest monthly costs? A $2, 200 mortgage and a $1, 100 car payment. He bought his house early in the pandemic when rates were low, a decision that now saves him money compared to renting. But even with his salary, he says the Boston area needs more affordable housing and better transit to help younger workers avoid long commutes.He works hybrid—two or three days in the office—after switching from banking to telecommunications because he prefers jobs with clear local benefits. Most of his splurges are long-term, like a trip to Southern France years ago, but lately, he’s been careful with spending. Moving closer to Boston wouldn’t be worth it, he says, because the extra paycheck wouldn’t cover the higher costs.