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Old 05-03-2016, 04:02 PM
 
28,906 posts, read 45,194,930 times
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Quote:
Originally Posted by reed067 View Post
Here's the situation when my mom passed two months ago she left me her house free and clear and no leans against it. Totally paid off. at the time I am not working been dealing with trying to get my head on straight and get some much needed things done around here to sell the house. My wife is working but only part time at the moment she looking for something full time and as am I.


In the beginning we were just going to take care of the little things that needed to be done put the house on the market & move back North. We took a step back and realized that IF we stayed here a year we could save up a good big of money before we headed back.


We totaled all our monthly bills and without having to pay rent/mortgage everything comes up to roughly
$450.00 a month. While the jobs down in this area don't pay very much we should still be able to save one paycheck for the next year. Give or take around 15Kish. No, we didn't take into account gas, food, because that can change.


Granted things happen but knock on wood this could be a good start before we had back up North.


Could we be missing anything? I know it's possible to lose a job someone gets sick, etc. We're playing the odds & are hoping that none of that happens.
So sorry about your mom. But imagine how much you could save up even if you, too, had a part-time job. Further, there is a difference between being frugal and just living in absolutely misery from self-deprivation.

What's more, going without health insurance is like playing Russian roulette.
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Old 05-03-2016, 04:08 PM
 
Location: Rutherfordton,NC
12,121 posts, read 8,098,073 times
Reputation: 8608
Quote:
Originally Posted by chet everett View Post

More details would be helpful -- what sorts of "savings" are we really talking about? Is this just cash to be spent later? Money earmarked for some known future goal is rather different than really investing funds for the longer term retirement or even eventual costs of having kids, sending them to school etc...

Amassing $15,000 is nothing to sneeze at, but if you are not doing anything toward a future that will be more valuable to employers it is hard to say this is really going to "help you get ahead". Don't get me wrong, it is smart to have a cushion, and I imagine that even if mom was in poor health there is some shock associated with her loss, but don't let that emotion lead to do something emotional. Maybe it makes sense to think of this as your new home...

What about the longer term resolution of the estate? Will you sell the home? How much will that net? Where "up north" do you intend to relocate? What sorts of longer term goals / plans are feasible?


It's money to give us a head start when we move from here. At the moment we are in South, Ga. We're from Asheville, NC but we're not going back there to expensive we want to move to Greenville, SC, 45 mins South of Asheville.


Good paying jobs low cost of living & we're close to family & friends. No kids to worry about as my wife's kids live with their dad & I have no children of my own. So no money will be spent there. We have yet to have a new appraisal in this house, last appraisal was 100K & that was about two years ago. This house sit on a acre and a quarter.


We HOPE that we can sell the lot next door to it as it's an acre as well. Selling the house with the acre means we wouldn't have to put it on the market alone. There is nothing here for us we don't like this area of the country too hot & no change of seasons.
My wife's Dr is in NC also. We're in our mid 40's & all the family I have left is in NC & TN I would like to be closer to them.

Last edited by reed067; 05-03-2016 at 04:30 PM..
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Old 05-03-2016, 06:13 PM
 
Location: Rutherfordton,NC
12,121 posts, read 8,098,073 times
Reputation: 8608
Quote:
Originally Posted by Hedgehog_Mom View Post

I spend about $600 a month on food and at least $150 on gas. We could probably eat more cheaply but we like decent food.


Same with us we buy all organic & money goes fast by doing so. We hardly eat out unless we've been running errands & just don't want to cook that night. There is only two of us & having a garden helps keep some of the cost down.
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Old 05-04-2016, 02:02 PM
 
Location: Under a bridge
2,423 posts, read 2,998,688 times
Reputation: 2485
Sorry to hear about your mom.

Nothing wrong with your idea. If you and your wife stay for a year, at least, and if both of you work and live within your means, both of you together can easily sock away a lot of money for your eventual move to your desired location.
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Old 05-04-2016, 02:17 PM
 
69 posts, read 46,534 times
Reputation: 75
Subtracting out mortgage, home owner insurance, property taxes and health insurance I'd still be well above 450 per month.
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Old 05-04-2016, 02:21 PM
 
Location: The analog world
15,551 posts, read 8,734,436 times
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I'm still waiting to learn what is included in that $450 budget.
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Old 05-04-2016, 02:37 PM
 
15,385 posts, read 8,679,661 times
Reputation: 13770
Quote:
Originally Posted by reed067 View Post
Here's the situation when my mom passed two months ago she left me her house free and clear and no leans against it. Totally paid off. at the time I am not working been dealing with trying to get my head on straight and get some much needed things done around here to sell the house. My wife is working but only part time at the moment she looking for something full time and as am I.


In the beginning we were just going to take care of the little things that needed to be done put the house on the market & move back North. We took a step back and realized that IF we stayed here a year we could save up a good big of money before we headed back.


We totaled all our monthly bills and without having to pay rent/mortgage everything comes up to roughly
$450.00 a month. While the jobs down in this area don't pay very much we should still be able to save one paycheck for the next year. Give or take around 15Kish. No, we didn't take into account gas, food, because that can change.


Granted things happen but knock on wood this could be a good start before we had back up North.


Could we be missing anything? I know it's possible to lose a job someone gets sick, etc. We're playing the odds & are hoping that none of that happens.
But could easily double or triple your expenses.
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Old 05-04-2016, 03:28 PM
 
7,351 posts, read 4,424,475 times
Reputation: 8296
When the house is sold, will you receive a share of the proceeds? Do you lack funds to move without the proceeds from the sale? Just trying to get a feel for why sticking it out in low-paying jobs in a place you really don't want to live is worth it.
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Old 05-05-2016, 04:10 AM
 
Location: Rutherfordton,NC
12,121 posts, read 8,098,073 times
Reputation: 8608
Quote:
Originally Posted by Petunia 100 View Post
When the house is sold, will you receive a share of the proceeds? Do you lack funds to move without the proceeds from the sale? Just trying to get a feel for why sticking it out in low-paying jobs in a place you really don't want to live is worth it.
Quote:
Originally Posted by cpg35223 View Post
So sorry about your mom. But imagine how much you could save up even if you, too, had a part-time job. Further, there is a difference between being frugal and just living in absolutely misery from self-deprivation.

What's more, going without health insurance is like playing Russian roulette.


When this house is sold everything we make off of it will go towards what we buy. We want a 450-500ft home & at least two acres. This is doable in the area we want to move too. Yes, we hate it here but it does give as a chance to catch out breath for a bit. We've been here seven month & hit the ground running ever since we got here. Neither one of us feels like packing up & trying to move again so soon.
We have the money to move but staying here will allow us to plan out our next move & not feel rushed.


Not to mention that we don't want to blow though the money we do have saved. what happens if we move & only one of us is able to find a job? By being able to save even more while we're here gives us more of a buffer.




I just got a job yesterday I'll start in two weeks. As far as the health insurance goes IF my wife get the jobs at the hospital we'll have insurance though them. Other wise I'm not sure we can save what we want if we get insurance someone else. so expensive.
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Old 05-05-2016, 04:24 AM
 
Location: Wartrace,TN
5,270 posts, read 8,216,301 times
Reputation: 10372
You would be saving housing costs if you stay in that house. If you would otherwise spend 1250 per month PITI on a home elsewhere but elected to stay in your mothers house for a year then yes you will have 15k at the end of a year.
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