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That is a good point. I seriously don't like it here and get depressed at the idea of staying here for 4 more years. Ugh. But I really CAN'T make a move. I've job hopped too much and have been applying to jobs in other cities far away, but no one seems to want to bother with me, because my job history is unstable. Plus, not being a local candidate harms my chances as well. Sucks.
Then don't give yourself an artificial timeframe wherein you must stay put. Wait 6 months and start applying for jobs again. If that doesn't pan out, wait another 6 months and try again.
In the meantime, keep living frugally and save as much as you can.
Then don't give yourself an artificial timeframe wherein you must stay put. Wait 6 months and start applying for jobs again. If that doesn't pan out, wait another 6 months and try again.
In the meantime, keep living frugally and save as much as you can.
I can't keep applying for jobs every 6 months. Every 12 months is more like it. I have to sign a 12-month lease contract, which locks me in and doesn't give me the freedom and flexibility to just relocate only 6 months into the lease. Most landlords do NOT let you break leases around here. It's awful. What I could do, however is go month-to month after the 12 month contract is up, that way I will have the freedom and flexibility. Currently, I am on month to month, after being on a 12-month lease which ended in May. But I've been looking for a job for a few months now and it's been awful, with no luck. In the meantime, I'm DESPERATE to move out of my current apartment, because the noise pollution is UNBEARABLE from the 4-lane road and highway interchange nearby, and I can literally hear every word spoken by the neighbors above me, and to the sides. So I would like to move into a better apartment that's cheaper and quieter. Furthermore, between January and April, it's impossible to look for a new job, because I won't be able to take any days off for interviews, etc., because I'm a corporate tax accountant and we're busy during those first 4 months of the year.
I can't keep applying for jobs every 6 months. Every 12 months is more like it. I have to sign a 12-month lease contract, which locks me in and doesn't give me the freedom and flexibility to just relocate only 6 months into the lease. Most landlords do NOT let you break leases around here. It's awful. What I could do, however is go month-to month after the 12 month contract is up, that way I will have the freedom and flexibility. Currently, I am on month to month, after being on a 12-month lease which ended in May. But I've been looking for a job for a few months now and it's been awful, with no luck. In the meantime, I'm DESPERATE to move out of my current apartment, because the noise pollution is UNBEARABLE from the 4-lane road and highway interchange nearby, and I can literally hear every word spoken by the neighbors above me, and to the sides. So I would like to move into a better apartment that's cheaper and quieter. Furthermore, between January and April, it's impossible to look for a new job, because I won't be able to take any days off for interviews, etc., because I'm a corporate tax accountant and we're busy during those first 4 months of the year.
UGH!
OK, then every 12 months. The meat of my comment was don't lock yourself in to an arbitrary 4 years.
Why make yourself miserable at all? I have no problem with someone saving up in a high income place then moving to a more affordable place...as long as a person is not miserable in either place. But why live in a miserable place if you can be happier elsewhere? Money isn't everything...Happiness is.
I agree with this. I'm looking to move from NYC (super high cost) to Richmond, VA (much lower COL) and I began saving exactly 1 year ago. I plan to start talking to lenders in Jan/Feb 2015 for a house. I really cannot imagine living in NYC for 4 years because I am so unhappy here :/
I answered, 'yes' on the poll because your plan is certainly realistic (financially speaking) but mentally and emotionally are you going to be happy in CT? This past year for me was miserable. I worked 7 days/week, multiple jobs, lived frugally (minimal social life), etc. so that I would have enough funds for a house down payment and it has been a very draining year!! I'm still not done with my savings goal so I really need to finish strong these last few months.
Idk, only you know if you can really be happy staying there or not. I understand the difficulty of job searching when you appear flaky due to 'job hopping' but there is going to be a company out there that overlooks it. I left my former company after just 3 months. Did the question of 'Why?' come up in interviews? Certainly. Are there going to be companies that will think twice before hiring you? Sure. But if you are moving out of state, they will have to be understanding that you are not job hopping, but simply unable to work at your company due to this relocation (unless of course they have offices in the state you're moving too lol)
Yeah I agree. Financially, it's doable, but for happiness reasons, it's not a good idea. If I move somewhere else now, I would likely be able to afford a nice home right now, simply from shifting from here to a more reasonable/lower cost area.
Every time I drive away from this entire NYC tri-state area, it reminds me of how different life could be, and more peaceful. Then, as I drive back home, it's like I'm driving back into a pit of super high cost of living, traffic and fast paced people who love to use their car horns all the time. I can't imagine living here for FOUR more years...ugh!
Yeah I agree. Financially, it's doable, but for happiness reasons, it's not a good idea. If I move somewhere else now, I would likely be able to afford a nice home right now, simply from shifting from here to a more reasonable/lower cost area.
Every time I drive away from this entire NYC tri-state area, it reminds me of how different life could be, and more peaceful. Then, as I drive back home, it's like I'm driving back into a pit of super high cost of living, traffic and fast paced people who love to use their car horns all the time. I can't imagine living here for FOUR more years...ugh!
Can you cut back further on your expenses (living on bare bones) to accelerate that date?
I hate to tell someone to be miserable, but living in a high-cost area is really a great way to put a lot of money away.
Can you cut back further on your expenses (living on bare bones) to accelerate that date?
I hate to tell someone to be miserable, but living in a high-cost area is really a great way to put a lot of money away.
Well, the timeframe and figures I discussed in my original post already reflect moving into a cheaper apartment. Right now I am paying $1,750 for a 1 bd apartment, but could probably find something for around $1,400. I have no car payment or debt payments whatsoever. So, when all is said and done, my monthly expenses would amount to less than $3,000. But yeah, I could save $22,000 a year if I do that and stay at my job here, living here.
In March, I am expecting to receive a bonus of $15,000 ($9,000 after taxes), along with a 3-4% raise. It would be a real shame to miss out on that.
Well, the timeframe and figures I discussed in my original post already reflect moving into a cheaper apartment. Right now I am paying $1,750 for a 1 bd apartment, but could probably find something for around $1,400. I have no car payment or debt payments whatsoever. So, when all is said and done, my monthly expenses would amount to less than $3,000. But yeah, I could save $22,000 a year if I do that and stay at my job here, living here.
In March, I am expecting to receive a bonus of $15,000 ($9,000 after taxes), along with a 3-4% raise. It would be a real shame to miss out on that.
Again, I'm not sure how much you're willing to cut back to achieve your goals (I'm a very frugal person myself - I live on $1600 a month in the SF Bay Area right now and love it). But if you want to save as much as possible, there's a few things you might consider:
Switch to a studio apartment - it looks like rent is your biggest expense right now. If you can save another $500/month living in a studio, that's $6K a year (not bad at all)! Definitely worth your time doing some research on this one. Find one close to work and you can bike to work!
Watch your food expenses closely - if you minimize eating out and cook most of your meals yourself, you can put away a LOT while eating very healthy.
Watch your car expenses - can you bike/take mass transit to work? Even better if you can go without a car completely (I currently bike /take mass transit everywhere and save a LOT of money). You have to think outside the box a little on this one, but if you do it right you can save a lot.
My point of this exercise is that if you really pinch pennies, you can reach your savings goals in about half of the time. Things cost more in the city, but they don't have to if you're very careful about how your spend your money. Take a little pain now and you can get out of there in no time with a lot of money on your hands.
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