The Cost of Relocating

Snow(We got another snowstorm!)

In a short eight days I’ll be loading up my dads trailer and making the journey back to my hometown.  It doesn’t seem real as I glance at the boxes in my living room and sit contemplating what else I can go ahead and pack up.  I have a running to do list open on my computer and no fewer than three lists going of what needs to be done and the plans I’ve set with friends in the area.  Earlier I met a mentor & friend for coffee and she gave me advice on where my journey is leading me.  For the first time in years I feel excited about the future and everything coming.

shelf

(another day, another empty shelf)

Despite the excitement I feel right now, I’m stressed out to the point of suffering physical symptoms.  Between filling out new hire paperwork, cancelling services and scheduling appointments, I feel a little worse for wear.  I’ve never been someone who handles stress well and I dislike how I respond to stress.  Yes, it is a lot, but I think the financial implication is what bugs me the most.  You see, I’m having to pay out money to get services done that I won’t get reimbursed for until next month.  When you’re in the education field or working with children, you have to fill out extra paperwork to prove you’re a good person.  It amounts to money on your account until you get reimbursed later on.  Total cost for all the paperwork I fill out so far?  $60.  It’s not a lot, but combined with the moving cost, it’s something!  I won’t say the full amount, but let’s just say despite having a nice amount saved up, releasing fees, cleaning companies and the likes has punched my checking account in the face.

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Despite the initial cost, there are so many advantages to my move;

1) More job opportunities, promotions, more money

2) Being close to family instead of 2+ hours away

3) Being close to friends I typically only see 3X a year

4) ‘ll be near the university I want to get my Masters through

5)  I’ll be living in the area I want to settle in permanently

6)  I won’t be paying utilities or rent for at least 2 months, meaning more money to pay off my student loans and having money.  Wait, I have money to buy a book??

Have you ever relocated for a job?  Family?  More opportunities?

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In Defense of Moving Home to Save Money

snow

With my new job in another city and two hours away from where I currently live, I’ll be relocating in the next two weeks in order to be closer.  I plan on living with a grandmother during that time who lives 40-60 minutes away (depending on traffic).  It’s by no means an ideal drive, but with a 7 hour workday, I consider it not terrible.  I have a cousin who commutes almost two hours both ways and has done so for the last four years.  I know it won’t be forever, but the length of time I’ll do it could be up to 6 months.  As I played with numbers last night, I realized it would be in my best financial interest to do this for a bit longer than a month because no rent means an extra $1000 or so a month.

a) Pay off more of my student loans

b) Money to put towards savings and retirement

c) Having flex money instead of penny pinching

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For the last three years I’ve lived on my own, but during my 1-2 week breaks from school (we’re year round) I’ll stay with family or friends for a while and it’s fine.  I’m someone who needs their alone time, but my grandmother is the same way which is why we do well together.  I’ve lived with her in the past (my parents, brother and I stayed with her for 6 months while our new house was being built) and will be helping her with bills and groceries.

 Snow (Today’s a good day to stay snowed in!)

I recognize there’s a stigma (at least in the US) of living with family, but I ask why?  In a lot of other countries, it’s not uncommon for adult children to stay with family until their late 20s or 30s.  I was shown and brought up on the principal that family is always there when you need help.  I’m in the same boat as many post-grads who are paying off their student loans and working out the schematics of their careers and future lives.  If I didn’t have student loans, it would be a short stay.  Due to having them, I’ll extend the stay, but start an time table of when to move. By then my student loans will have a huge dent and my savings will be pretty high.  Just because I have money doesn’t mean I’ll spend it.  Plus I’ll be side-hustling with babysitting, tutoring, freelancing and what not.

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That’s enough financial talk for now.  I think a geeky post is due in the near future!  I pose a question to end things off;

Do you think there is still a stigma against adults who stay with family while working and saving money?  Have you stayed with family for a month or more to get on your feet?