My question for
@BPH, why would you need to take out bank loans to get your own place?
I would need to take out loans because the cost of the equipment I'm buying for this business does not leave me much wiggle room. Couple that with student loans and recurring expenses like groceries and gas, then spending an extra $1,000ish per month before factoring in utilities isn't feasible.
Living with your parents, surely you must be saving a boatload of money no? For the first and last months' rent at the very least?
I had saved up a good bit of money yes, but I'd also spent quite a bit as well. This isn't the first business I tried building - every failure has been expensive in one way or another, whether time, money, or both. I had initially been working my job part-time so I could use that free time to pursue these things. It got to a point where my income was not overtaking my expenses, so that's when I started working my current job full-time while still trying to build these things.
Is a second job not possible?
It sort of is, but it's not that simple. The job market is absolutely awful; my brother got laid off early last year and he only just now found new employment with a job he starts this next Monday - it took him that long to find something that would pay him a wage that allows him to afford to continue living where he is. The closest he had gotten before that was a phony job listing on Indeed that scammed him out of several thousand dollars.
I spent time on Indeed and LinkedIn looking around every time I got fed up with my boss verbally taking out his frustrations on me. Almost every job is a sales position that is either entirely commission-based or mostly commission-based, and not being able to filter those things out due to their stated pay often being $0-$unlimited means it's very difficult to find anything.
Some may call this an excuse, but do a simple Google or YouTube search about the job market and you'll find plenty of complaints and zero optimism. The second job I would consider while building this business would be the one I mentioned earlier about my friend needing marketing for a tech startup. And that is because it is remote, part-time, and if it replaces my current income I could do that instead.