Max works in New York City and has always wanted to live there. He makes $40,000 after tax and currently lives at home. He contributes to the household but isnt paying regular rent. He is paying 20% of his after-tax income toward his student loans and expects to pay these off in three years. He figures he can reduce this to 10% to help pay for his NYC move which means the student loans wouldnt be paid off for six years. He just bought an expensive new car and financed it with a 4-year loan with a $500 monthly payment. He spends about $500 a month on restaurants, entertainment, clothes, etc. He recently went on a fancy vacation with some friends and charged $3,000 to his credit card, a move he now regrets as he has been unable to pay it off. Max heard that you recently took a course on Personal Finance and has asked for your advice. What would you tell him about his priorities and his proposed move?