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I was always a "saver" with little to no debt, but my current (now past) position which was great for flexibility was iffy on income. The company is now going under and provided next to no notice. It's a small company that contracted services - mine being one of them. I don't regret having worked for them for the flexibility I had, but now I have bills that I cannot pay without income, and what I was making with them I cannot find in this area to cover my current living expenses. And... with the winter we've been having, it hasn't been possible to move besides the fact that I have no money to cover moving! What's a person to do?
I'll tell you ... step out in faith for the thing that is calling most to you.
Do your homework - don't make a sporadic decision based on emotion, but don't be your own reason why you don't end up pursuing your dreams and goals. I always was one of those who put away as much income as possible before I'd spend, so I always had money in the bank (at least six months' living if not more). Thing is... this time around... I've already dipped and devoured what I had this time to maintain this long, and now my well is virtually dry. (With the exception of a small 401K which I *could* take out if I wanted to purchase a place, but otherwise, I'd be penalized for withdrawing it ... which is not so bad.)
I've moved often and at great distances. Moving is *not* cheap! If I began to list all the customary moving costs I've incurred through the years, it'd be another whole entry! Thing is... it usually adds up to about 2-3 months income. And if you move often, it begins to add up as debt.
However, I've never regretted a move but once, and that was only bc I moved into a place where I thought I was going to stay but didn't and missed the place I'd previously been, so I moved back!
If you're just a bit of debt away... I don't think it will matter that much when you move, and if you have surmounting debt... I'd wonder how you think you'd get it paid off where you are if you haven't paid it off yet?
Life is short. When you get to the place you really want to be, and you're doing the thing you love, what monies you need will follow. I truly believe that. So...
Debt or not - if I have to work my way there, I'm looking to move back to AK - a very expensive place with an expensive moving process. And nothing in my back pocket, but an extra leash for my dog.
I know once I'm there, things will fall into place. And until then... I'm not going to let anything stop me from living my dream... you either do, or you don't. All the rest is just the stuff in-between.
Go for it, and best of everything to you on the way!
I"ll have to agree about life being too short to wait until you are debt free to move...If you have done your homework on your new place to move, have a job, have enough to pay the rent for 2 months or so, then do it...Get a temp job right away and keep looking for the new job. GOod luck...
- Sometimes it is necessary to move to IMPROVE your financial situation, expecially if you are carrying a house payment that is strapping you, or live in an area where the cost of living is high. You may never get out of debt in that case if you STAY where you are. I've been there.
- Sometimes, in certain areas, the cost of a mortgage is actually cheaper than renting. Accept, of course, that you are responsible for more repairs and upkeep.
I think it's kind of like waiting for just that right time to have a baby. If I had waited for the "perfect" situation to have a baby, I would be middle aged and childless right now.
I was always a "saver" with little to no debt, but my current (now past) position which was great for flexibility was iffy on income. The company is now going under and provided next to no notice. It's a small company that contracted services - mine being one of them. I don't regret having worked for them for the flexibility I had, but now I have bills that I cannot pay without income, and what I was making with them I cannot find in this area to cover my current living expenses. And... with the winter we've been having, it hasn't been possible to move besides the fact that I have no money to cover moving! What's a person to do?
I'll tell you ... step out in faith for the thing that is calling most to you.
Do your homework - don't make a sporadic decision based on emotion, but don't be your own reason why you don't end up pursuing your dreams and goals. I always was one of those who put away as much income as possible before I'd spend, so I always had money in the bank (at least six months' living if not more). Thing is... this time around... I've already dipped and devoured what I had this time to maintain this long, and now my well is virtually dry. (With the exception of a small 401K which I *could* take out if I wanted to purchase a place, but otherwise, I'd be penalized for withdrawing it ... which is not so bad.)
I've moved often and at great distances. Moving is *not* cheap! If I began to list all the customary moving costs I've incurred through the years, it'd be another whole entry! Thing is... it usually adds up to about 2-3 months income. And if you move often, it begins to add up as debt.
However, I've never regretted a move but once, and that was only bc I moved into a place where I thought I was going to stay but didn't and missed the place I'd previously been, so I moved back!
If you're just a bit of debt away... I don't think it will matter that much when you move, and if you have surmounting debt... I'd wonder how you think you'd get it paid off where you are if you haven't paid it off yet?
Life is short. When you get to the place you really want to be, and you're doing the thing you love, what monies you need will follow. I truly believe that. So...
Debt or not - if I have to work my way there, I'm looking to move back to AK - a very expensive place with an expensive moving process. And nothing in my back pocket, but an extra leash for my dog.
I know once I'm there, things will fall into place. And until then... I'm not going to let anything stop me from living my dream... you either do, or you don't. All the rest is just the stuff in-between.
Go for it, and best of everything to you on the way!
You're braver than me...I moved once with 2 kids and the job was gone in a few weeks. I am scared to move again, and I can't find work here now.
I have no roots anymore.
I am desperate to move on; to move, to go back to school and experience life elsewhere, out of my hometown and the dead-end job I've had for over 13 years. I NEED CHANGE!
I'm kind of treading water financially with my job; not saving much money. The degree I want to go after will pay much more...almost/potentially twice as much and the degree program I want is out-of-state and where I want to live.
Do I give up paying off all my debt and accruing more; to give up financial fitness in the short term to pursue the degree and get to where I want to be in life?
I am desperate to move on; to move, to go back to school and experience life elsewhere, out of my hometown and the dead-end job I've had for over 13 years. I NEED CHANGE!
I'm kind of treading water financially with my job; not saving much money. The degree I want to go after will pay much more...almost/potentially twice as much and the degree program I want is out-of-state and where I want to live.
Do I give up paying off all my debt and accruing more; to give up financial fitness in the short term to pursue the degree and get to where I want to be in life?
Greetings all!!
I've been perusing these posts and have came across numerous 'warnings' about not moving with debt. Pardon the ignorance, but I'm unsure of why this is a hold-up in moving....I personally don't know ANYBODY who is debt-free(student loans, mortgages, credit cards, etc.) Are there strict credit checks for tenants? Is the cost of living so high that the monthly debt payments are just another major cut? Just curious as to why I've seen several references about not moving with debt...
Take care and be well.
I've always had debt when I moved. Because debt free living is a fallacy for most people. It's pretty rare you're not going to paying student loans, a car payment, or a house payment. If I waited until I had no debt I'd be still living with my parents. Whoever told you this is a dumbass.
I have a $50K mortgage against a house worth more than ten times that, otherwise I’d join the “I’m debt free” crowd too but to be fair I could pay off the debt tomorrow if I wanted I just would rather have the cash haha.
I’ve never heard about this moving with debt thing, not really sure. When we move I’ll have a decent sized mortgage on the new home before I sell this one and hopefully wipe most of it out.
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as to why I've seen several references about not moving with debt...
