Post: #1

I currently live with my parents and I want to move out by early January 2014. Here's what I understand so far:

1) I need money- I just got laid off from my temp job and am now looking for a new one. I'm being as frugal as possible and putting 10% of what I earn into a separate account so I can start my own business with it.

2) Location matters- The state, city, part of the city. Does it have jobs? Transportation? Nightlife? People the same age as me? Are the people friendly?

Now what I don't get is how to do it. I asked a couple of friends who moved out and they weren't much help. Friend #1 said he researched cities and when he found a city he liked, he looked up jobs and housing and when he found what he liked, he saved the money and basically drove out there without putting a down payment on an apartment or having a job waiting for him. Friend #2 said he vacationed at a city where one of his friends lived and decided to move there a few months later with him. He later found a job but is still living with his friend.

Here are the questions on my mind and what Google doesn't really help with:

Do I need credit history to rent a place?

Do I really need a credit card? If so, how do I go about getting one and what advice could you give me? I mainly use cash and my debit for online. I hate owing money.

Should I have a job locked down when I move or should I save some extra money to tide me over and go looking for one?

Should I buy a car before moving? (I'm a little iffy on this because cars eat up a good portion of one's paycheck (gas, insurance, maintenance))

How do I calculate the cost of living in a city per month?

I would prefer to live on my own but if a roommate would keep expenses down, so be it.

If you guys have any advice, stories or suggestions on where to move/what to do, please share.

Post: #2

First, where do you live?

- Find out if your government gives out any benefits(low income earner, family circumstances) that provides cheaper housing or move into a share apartment(room-mates) for cheaper rent.
- Sell everything you don't need(computer,laptops,bookcase) - I use gumtree
- For estimate on budgets and living, I used this website http://www.mq.edu.au/future_students/int...of_living/
- City I live in has great public transportation so a car is not needed.
- As a first time renter, you would need to prove that you pay bills on time.
- Buy furniture and utensils at charity stores(coffee table, mattress, bed, cabinets, bric a brac)

Find and keep a job til you move out as it shows you have a steady income stream.

Post: #3

Bay Area, CA.

I want to move to a different state though. I've been to Denver, Colorado; Louisiana; Fort Jackson & Columbia, South Carolina; and Reno, Nevada.

I've never been to Atlanta, GA but I've heard some good things. Denver is cool but there's not as many Black chicks (I love 'em!).

I don't even have a credit card. I mainly use cash to control my expenses and my debit card for online shopping. Any tips for that?

Post: #4

If you are having trouble getting a place, try offering an extra couple of weeks up front, and just prove that you have some kind of income/way of paying every cycle (usually fortnightly)

Post: #5

Step 1: get money
Step 2: move nearby a university.
Step 3: go to Ikea

You're welcome.

Post: #6

The easiest way?

Get accepted to a college in the city you want.
Take out loans and go to that college and live on campus.

- you'll have a place to stay
- they'll push credit cards on you
- an instant social group
- something to do
- your folks will have to co-sign for any loans and on any apartment.

You'll also be in the city of your choice and able to look for a job as a resident of that city.

Same thought process goes for the military, getting a job there while you're at home, having friends and family in the area you can stay with while you're looking for a job.

The hard way?

Drive out there and hope you land a job.
Hope you can find a place to stay.
Hope you can make enough money in 6-8 weeks to afford the 1st months rent and a deposit on a new place.

It ain't easy unless the jobs are plentiful. It's why the natural resource boom is so important.

WIA

Post: #7

I was in college for years but I dropped out for personal issues. The reason I'm moving is not only to make something of myself and pursue something I love (without my family breathing down my neck) but so I can claim residency in a state and return to college if it doesn't work out.

I was thinking Arizona for ASU, Louisiana for LSU, or maybe live somewhere in Missouri or Georgia for their universities.

So if I understand correctly, save a shit ton and lock down a job so I can move. If I do not have a job waiting, save even more while I search, just in case.

I'm feeling more confident in this decision. Thanks guys! Any other advice would be very much appreciated.

Post: #8

Don't look at a credit card as "owing money". Look at it as a cash flow tool and a way to build a credit history. You seem like a responsible, long term oriented guy so i doubt you'll be abusing your credit line and buying things you can't afford. If you have some savings already, simply pay the balance when its due and you'll be fine.

If you're looking into moving to a university town check for sublets on craigslist. A lot of times, students will be studying abroad for a semester and need someone to assume the rent for the ~4 months that they're away. This is a great way to find a deal on a place since they are in a more desperate situation than you are and you can prob get a nicer place for the money. Since you're not dealing with a landlord directly, they probably won't credit check you and you're also not locked into a 1 yr lease or expensive month-to-month situation.

I would also strongly advise locking down a job beforehand even if it's something menial. Better for peace of mind and nothing says you can't quit if something better comes along.

Good luck

Post: #9

I'd keep footprint small at first.

Don't sign a lease. Rent a room month to month. Find a place where your new room mates have all the essential furniture already. Now you only need to spend for a few items in your bedroom.

One you feel more certain you want to put down roots at your new destination, you can acquire more stuff and make more commitments. Sign a lease of your own, furnish the place etc.

To begin, I would buy a one way flight and move with maximum two suitcases.

You just never know how you're going to feel with your new life until you do it. The job search is an unknown in your plans. Once you get the job locked down, some of the uncertainty disappears.

Get some people to network with before you touch down.

Couchsurfing is a good option. Ask questions on the city forum about which part of town is best to live in. Arrange to meet up with anyone who wants to show you their favorite parts of the city.

Mention your new city and arrival date on Skype, Facebook statuses etc. Friends will mention that a friend of theirs is living in your new city - ask to get in contact with that person.

Ideally when you choose a well located room, your room mate will have similar interests to yours and a good group of friends that you're exposed to.

Early January is probably a good time to move, after the Xmas holidays are finished. If you're expecting presents from anyone, you might remind them you're moving with almost no stuff. So anything you get for Christmas you probably can't take with you unless it's a gift certificate that you can use on the other side.

Post: #10

Quote:Don't look at a credit card as "owing money". Look at it as a cash flow tool and a way to build a credit history. You seem like a responsible, long term oriented guy so i doubt you'll be abusing your credit line and buying things you can't afford. If you have some savings already, simply pay the balance when its due and you'll be fine.

Thank you! And good tips. About credit cards: I heard if you pay what you owe before the bill comes in, you don't have to pay the interest?

Quote:Don't sign a lease. Rent a room month to month. Find a place where your new room mates have all the essential furniture already. Now you only need to spend for a few items in your bedroom.

I haven't even considered this. I think I'll do this at first then move out. Thanks!

Post: #11

Please find somebody who has the Financial Peace University dvds and borrow them. Learn to write a budget. You will need it.

Do not get a credit card. If you can't afford it, you don't get it. That is what being a responsible man is all about. Also, debt will keep you locked into places and limit your freedom. Take it from a guy with 6 figures of school loans.

Credit scores only mean something if you don't have the money. If you want to buy a house, start putting away money every month into savings and long term investments. Use the magic of compound interest and when you want to buy at 40 years old, use cash.

You are moving out on your own so expect to live ghetto. It may suck for a while, but you get used to it and it will give you a better perspective down the line.

Learn to cook. You will be healthier and have a thicker wallet.

Thrift stores are now your best friend. I'm 33 and a lawyer and still frequently hit up thrift stores and garage sales. Furniture can easily be found for cheap. Pick up a can of 75% off can of mis-mixed paint at Home Depot and you got yourself something nice for the apartment. If you happen to live in a college town, get a buddy with a pick-up truck and cruise the area on move out day. Those spoiled bitches throw away brand new TVs, furniture, etc. There is no shame in dumpster diving.

Have fun. Living on your own is when your life truly begins.

Post: #12

(07-11-2013 11:36 AM)Edmund Dantes Wrote:  Thank you! And good tips. About credit cards: I heard if you pay what you owe before the bill comes in, you don't have to pay the interest?

When your credit card bill comes you will have until the due date listed on the bill (usually around 30 days) to pay it off in full before any interest accrues. If you do get a CC, make sure you get one with no annual fee and make sure you only use it when you cannot pay in cash for emergencies (health care) or life essentials like food and car repairs or gasoline to get to work.

IMO though, if you don't know how a basic credit card works you probably aren't ready to be moving away and living on your own unless you really have no other options. Almost everyone I've know in that situation ended up with a big mess that took them years of lost freedom to get out of (if they ever did)

If it were me I would take some time to learn how these type of things work before moving. Start getting used to a credit card, paying bills, etc. Do things like open a second checking or saving account in your name (whichever doesn't cost you anything) and put $100 a month in it for your electric bill, $50 in for your water bill, etc. Then in 6-12 months you have a nice little chunk saved up and are also used to the routine of paying bills and managing your expenses. I know its hard to live at home, but remember that every month you do it is worth several months of an easier/better life on your own in the future. It really sucks to move somewhere and have to spend 6-7 days a week working just to get by.

Also, in regards to getting a job. If you have friends and relatives in other cities, start there. Ask them to use their mailing address on your resume (or if you can come stay with them and job hunt), that way you appear local. If someone calls to set up an interview, tell them you are out of town visiting family right now and would love to in X number of days when you are back in town. This means you probably want to be within a days drive to wherever you are looking for work though. This is also good b/c when you do live there, b/c if you have problems your family isn't 3000 miles away and can come help you easier.

Plan for the worst and hope for the best, good luck!

Post: #13

(07-11-2013 07:48 PM)snoop Wrote:  

(07-11-2013 11:36 AM)Edmund Dantes Wrote:  Thank you! And good tips. About credit cards: I heard if you pay what you owe before the bill comes in, you don't have to pay the interest?

When your credit card bill comes you will have until the due date listed on the bill (usually around 30 days) to pay it off in full before any interest accrues. If you do get a CC, make sure you get one with no annual fee and make sure you only use it when you cannot pay in cash for emergencies (health care) or life essentials like food and car repairs or gasoline to get to work.

IMO though, if you don't know how a basic credit card works you probably aren't ready to be moving away and living on your own unless you really have no other options. Almost everyone I've know in that situation ended up with a big mess that took them years of lost freedom to get out of (if they ever did)

If it were me I would take some time to learn how these type of things work before moving. Start getting used to a credit card, paying bills, etc. Do things like open a second checking or saving account in your name (whichever doesn't cost you anything) and put $100 a month in it for your electric bill, $50 in for your water bill, etc. Then in 6-12 months you have a nice little chunk saved up and are also used to the routine of paying bills and managing your expenses. I know its hard to live at home, but remember that every month you do it is worth several months of an easier/better life on your own in the future. It really sucks to move somewhere and have to spend 6-7 days a week working just to get by.

Also, in regards to getting a job. If you have friends and relatives in other cities, start there. Ask them to use their mailing address on your resume (or if you can come stay with them and job hunt), that way you appear local. If someone calls to set up an interview, tell them you are out of town visiting family right now and would love to in X number of days when you are back in town. This means you probably want to be within a days drive to wherever you are looking for work though. This is also good b/c when you do live there, b/c if you have problems your family isn't 3000 miles away and can come help you easier.

Plan for the worst and hope for the best, good luck!

Absolutely get a credit card. It will establish credit for you, which is crucial in the modern economy.

Here's the trick. Don't think of it as a credit card. Treat it like a debit card. That is, if you don't have the cash to cover it, don't spend it. Use the credit card for all your purchases, then pay it off once/twice/four times a month - however often you have to - by using the Bill Pay feature on your checking account. I can do all this online without leaving my bedroom. I've been using the same credit card for seven years to pay the vast majority of my expenses and have never paid a dime in interest or fees. Now, I'm a financial idiot for not getting a different card* when my rewards program got canceled a couple years back, but other than that...

The other thing you can do is set up a Google Voice number in the area code you're trying to move to, so you look more local.

*in the process of getting rectified.

Post: #14

(07-11-2013 09:18 PM)lurker Wrote:  Absolutely get a credit card. It will establish credit for you, which is crucial in the modern economy.
Here's the trick. Don't think of it as a credit card. Treat it like a debit card. That is, if you don't have the cash to cover it, don't spend it. Use the credit card for all your purchases, then pay it off once/twice/four times a month - however often you have to - by using the Bill Pay feature on your checking account. I can do all this online without leaving my bedroom. I've been using the same credit card for seven years to pay the vast majority of my expenses and have never paid a dime in interest or fees. Now, I'm a financial idiot for not getting a different card* when my rewards program got canceled a couple years back, but other than that...

The other thing you can do is set up a Google Voice number in the area code you're trying to move to, so you look more local.

*in the process of getting rectified.

For people who aren't financially responsible (or even just make a simple math mistake or two in their spending) can also easily establish bad credit and a pile of debt, which is hard to dig out from and often worse than having no credit.

That's why I suggested getting one, but slowly ramp up in how you use it (only emergencies, groceries and gas/public transit pass at first) to get used to how they work and what your monthly and yearly expenses are (for example, when I first got my card I would forget about my yearly car insurance payment, so I would keep my monthly spending the same, then get hit with a $1000 invoice for that and ended up carrying debt I didn't need to)

Post: #15

Thanks for the advice guys. I'm sure when January 2014 hits, I'll be more than ready by then.

Post: #16

(07-12-2013 08:03 AM)snoop Wrote:  

(07-11-2013 09:18 PM)lurker Wrote:  Absolutely get a credit card. It will establish credit for you, which is crucial in the modern economy.
Here's the trick. Don't think of it as a credit card. Treat it like a debit card. That is, if you don't have the cash to cover it, don't spend it. Use the credit card for all your purchases, then pay it off once/twice/four times a month - however often you have to - by using the Bill Pay feature on your checking account. I can do all this online without leaving my bedroom. I've been using the same credit card for seven years to pay the vast majority of my expenses and have never paid a dime in interest or fees. Now, I'm a financial idiot for not getting a different card* when my rewards program got canceled a couple years back, but other than that...

The other thing you can do is set up a Google Voice number in the area code you're trying to move to, so you look more local.

*in the process of getting rectified.

For people who aren't financially responsible (or even just make a simple math mistake or two in their spending) can also easily establish bad credit and a pile of debt, which is hard to dig out from and often worse than having no credit.

That's why I suggested getting one, but slowly ramp up in how you use it (only emergencies, groceries and gas/public transit pass at first) to get used to how they work and what your monthly and yearly expenses are (for example, when I first got my card I would forget about my yearly car insurance payment, so I would keep my monthly spending the same, then get hit with a $1000 invoice for that and ended up carrying debt I didn't need to)

If you can get one or two credit cards without annual / monthly fees, it might be worth signing up for them. Link them to your checking / debit card accounts, and treat them like cash. Making a few purchases monthly on your credit cards will build credit history - but you MUST pay them off in full every month, before the deadline, or it will harm you.

If you were to miss a payment by a few days and you don't have a history of late payments, calll whatever company you owe money to // your credit card company and have a talk with them. "I'm sorry, I overlooked it, look at my good history, can you please waive the late fees or charges / I just wanted to make sure that with my good record, this wouldn't impact my credit history." This can go a long way.