is our savings enough???????? (Murfreesboro, Smyrna: rentals, credit card, daycare) - Tennessee (TN) - City-Data Forum

luvmykids08_10 · 12-30-2010, 07:45 PM

my husband and i have saved $4550 do you think that would be enough to move from Michigan to Tennessee? that's our worst case scenario savings, we have a few things we may have to pay but after we deducted what we'd have to pay out of our savings we came up with this number. so do you think it will be enough? we don't know what city we want to stay in yet we will be making a two wk trip down there in Feb to look for jobs and rentals. we don't want to go above $600 a month rent, and n hr away from shopping. i need to be close to nursing homes, assistant living facilities, and hospitals. my oldest will be in head-start so somewhere close to a head-start would be nice, plus a daycare for my youngest.

BirdieBelle · 12-30-2010, 08:38 PM

At first glance, I would say no. Everything costs more than you originally think it will.
Are you planning to move yourself, like with a U-haul? You have to factor in gas and food for the trip etc. Depending on where in MI you live, it is 600-700 miles to Nashville.
Plus you'll need several months' rent up front when you get here. I know you were worried about renting with a credit check, so if you find someone willing to rent to you, they probably will be pretty strict about that.
Is there a way you or your husband can come down here alone and work for a while and save up while scouting out rentals?
Given your requirements, I would suggest targeting the Murfreesboro area or nearby Smyrna. It is a friendly, mid-sized, affordable and spread-out town with lots of retail and lots of job opportunities for you.

Creekcat · 12-30-2010, 11:23 PM

Not to mention deposits on utilites.

luvmykids08_10 · 12-31-2010, 06:30 AM

Quote:

Originally Posted by Wmsn4Life

At first glance, I would say no. Everything costs more than you originally think it will.
Are you planning to move yourself, like with a U-haul? You have to factor in gas and food for the trip etc. Depending on where in MI you live, it is 600-700 miles to Nashville.
Plus you'll need several months' rent up front when you get here. I know you were worried about renting with a credit check, so if you find someone willing to rent to you, they probably will be pretty strict about that.
Is there a way you or your husband can come down here alone and work for a while and save up while scouting out rentals?
Given your requirements, I would suggest targeting the Murfreesboro area or nearby Smyrna. It is a friendly, mid-sized, affordable and spread-out town with lots of retail and lots of job opportunities for you.

we're both coming down there in feb for two weeks to look for jobs bt my hubs wont leave me and the kids here in michigan and he wont let me go without him so us leaving each other is not an option.

SCBaker · 12-31-2010, 11:35 AM

Quote:

Originally Posted by luvmykids08_10

we're both coming down there in feb for two weeks to look for jobs bt my hubs wont leave me and the kids here in michigan and he wont let me go without him so us leaving each other is not an option.

Relocating out of state sometimes means sacrifices. It takes a well laid out plan and a lot of hard work. All of the pieces rarely fall into place as we would like them to. Just sayin.

luvmykids08_10 · 12-31-2010, 02:09 PM

Quote:

Originally Posted by SCBaker

Relocating out of state sometimes means sacrifices. It takes a well laid out plan and a lot of hard work. All of the pieces rarely fall into place as we would like them to. Just sayin.

yea i no that but he says we're family and we should stick together and thats n argument i do not wanna start lol

hiknapster · 01-01-2011, 01:12 AM

There is no way that anyone can answer that question because we are all so different. I once told someone that they wouldn't need that much money to start out, because we had done it on much less. As it turned out, well, they weren't us and their reality was much different than ours. Only you will know for sure, and even then you won't. The more money you have the better, of course, and during this economy I wouldn't move anywhere unless there was a written guarantee of a job and even then...well, life is a gamble.

Research, research, research.

We moved five years ago during the boom but we have a child and we were absolute wrecks over moving.

mrs1885 · 01-01-2011, 02:01 AM

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As for the financial side, make sure you come with a full 6 months of expenses saved up. Any less and you could be in serious trouble. Unemployment here is high. Plenty residents here are looking for jobs and not getting them, so don't expect to come in and pick up a job right away. Sadly, it just isn't that easy to get work here. I moved here and thought it would be because I had experience in a town way bigger and more progressive than where I moved from. My husband had federal work experience and a total career spanning nearly 30 years and he didn't get the job he was expecting. Things happen. We had no savings. Thank God his parents were able to support us until we got back on our feet. If you don't have that kind of money to fall back on don't put your family in a bad situation. Just hang tight where you are and try again when things are looking better for you.

Pam& Bill · 01-01-2011, 09:07 AM

Based on my move 5 years ago, I'd say that isn't enough. Moving from one state to another is expensive. Deposits on utilities is expensive. In this economy I wouldn't move without secure jobs lined up.
Now Mrs.1885 gave real good advice in her post. Hik's advice on research, research, research is right on the money. Bill and I had probably close to 4 times the amount in a bank account when we moved down here. The money can go quickly. Plus, the money in the bank account did us no good as we had to open an account here and it took 10-14 business days for a check to clear from out of state. Maybe have an accout at a national bank so you have access to the money. That was something we never even thought about until we needed the money.
I wish you well in your search and move.
Pam

beachmouse · 01-01-2011, 10:08 AM

Figure $1000 for moving truck and such, $1500 for first month's rent and security deposit, and another $500 on utility hook-up, and you've already eaten up $3K of the savings on general moving expenses. So if you rent and eat cheap, you've basically got a month to find a job and start getting paychecks. (assuming you don't have car payments or credit card debt you aren't paying on)

Which really isn't enough in this economy. I'd want at a minimum of three month's basic expenses and probably more than that. So aim for $8-$10K in savings, depending on other debt payments you've got before making a move into an area without a firm job in hand.

Sounds like someone is in health care, which is more marketable than most jobs these days, but if you're up against someone who already has a TN address, the inclination is to give the job to the local.