Post # 1
- This is assuming the following:
- You’re now married without kids
- Neither one of you have jobs in the new state
- You’ll be paying for health insurance out of your own pocket until you land job
- You’re willing to work at starbucks until you get something in your field?
- You’re current standard is NYC rent/living expenses so the town you’re moving to is significantly less in costs
I would be leaving behind a nice paying job with benefits and 401K matching program. Of course we’re both looking while we still live on the East coast but we do know that employers don’t always see an out-of-state applicant and get excited. Usually they hire local. I’m in healthcare and every day I see more and more postings for the position I’m currently in, in different hospitals. No guarantee but at least it doesn’t look completely bleak.
We’re taking a very, very low-budget honeymoon and based on what we’ve saved we’ll most likely have about 15K in savings without debt. The backup plan if we can’t find work after 4 months? We’ll either come back to east coast or go back to our homestate and rent out my mother’s house since she no longer lives in it. So we do have a bit of a safety net if shit gets rough.
How much would you require to give it a go in a new state for a few months?
Post # 3
I would save 3 months of rent, (because if I need money I will work at taco bell if I have to!).
Plus enough to cover the deposits of move in, so depends on your area but I’d save 2000 just to have wiggle room.
3 months of groceries.
And 3 months of bills.
So…hold on, mathing…..around 5500 to 6K.
Post # 4
@PixelMePretty: Taco Bell is my guilty pleasure.
Post # 5
Are you including moving costs or no?
We saved about $8K for our recent move. We had jobs lined up, but not for about a month after our move. The 8K paid for our moving costs, setting up our new apartments, rent and security deposits, and living expenses for one month. We spent every penny.
If I didn’t have a job lined up, I probably wouldn’t move. What happens if you sign a lease and then have to leave? Are you planning on staying in a hotel or something? Or do you have friends you can stay with until you find a job? Are you going to move all of your belongings with you–and if so, if you can’t find work and have to move back, how are you going to pay for all of those moving expenses?
I have a friend with a master’s degree who just moved to a new city. He couldn’t find anything except part-time retail work, and after two months, he spent all of his savings and is thinking about leaving the country. Sorry to be a debbie downer, but I probably wouldn’t move unless at least one of us had a guaranteed position.
Post # 6
@skippydarling: Agree with PP – I wouldn’t move until at least one of you had a job lined up (assuming that you currently have jobs where you are now). Honestly, I would never quit a job without having another one lined up – not in this economy, no way!
Post # 7
- Wedding: November 2013 - St. Augustine Beach, FL
@skippydarling: 6 months worth of living expenses in the new town based on the average household income for the area. So if Town X has an average household income of $40,000, I would save up $20,000 before moving.
Post # 8
I would absolutely move with 15k and even way less! Go ahead!
Post # 9
@howsweetitis: It’s ok – you’re not a downer. I know tons of people who are in debt from getting their magical masters degrees. Masters degrees don’t pay – at least not in my experience. I’m better off for not having one. So the masters degrees stories don’t frighten me.
Moving expenses will be little, we don’t have a lot of stuff, we’re light packer hippies. And we’ve found a few apartments are month-to-month leases because we wouldn’t want to sign up for a solid year. I think 15K would work out nicely for 4 months or so but it could get rough after that.
We’re just ready to change our lives and want to take the leap.
Post # 10
15k saved? I’d do it.
FI and I moved from St. Louis, MO to southern NJ, following a job offer for him. I quit my job, so I’m unemployed, and his company paid for our lease to be broken, secruity deposit in a new place, and all moving fees…and we have basically nothing significant in savings (we have our wedding savings, and retirement, and some money in our savings account and zero balance credit cards, but not much liquid cash).
That being said, money goes quickly, and it’s tough to find a job. I just got a bartending job so I have something to do with my time until I get a “real” job because I’m so bored.
Post # 11
@bebero: Yea – I suppose it’s hard to ask people what they would do and then compare it to your own life. Money is different for so many people.
Some people could make 15K last a very long time and others would never be able to do it.
My FI made 20K work for him here in NYC for an entire year and not once did he dip into cc debt. He also managed to not live in shambles – just a typical, small, nyc apartment. I was amazed because I would assume I could never make that work.
But it’s good to hear feedback!!!!