How much would you save before you relocated?

posted 3 years ago in The Lounge
  • poll: How much money would you need saved before you moved on a whim?
    at least 3-5K : (1 votes)
    5 %
    at least 5-8k : (5 votes)
    23 %
    8-10K : (5 votes)
    23 %
    15K or I'm not moving anywhere! : (1 votes)
    5 %
    Lots more than 15K - see below : (10 votes)
    45 %
  • Post # 3
    Member
    2189 posts
    Buzzing bee
    • Wedding: August 2017

    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 # 5
    Member
    3210 posts
    Sugar bee
    • Wedding: January 2014

    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
    Member
    509 posts
    Busy bee
    • Wedding: October 2015

    @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
    Member
    9137 posts
    Buzzing Beekeeper
    • 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
    Member
    2546 posts
    Sugar bee
    • Wedding: April 2013

    I would absolutely move with 15k and even way less! Go ahead!

    Post # 10
    Member
    1768 posts
    Buzzing bee
    • Wedding: June 2014

    15k saved? I’d do it.

    For perpective:
    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.

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