20, moving out of state, desperate for advice? (jobs, Budget, furniture)
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Hello everybody,
(I apologize in advance that this is so long, I wanted to be as detailed as possible!)
I'm currently 19 (almost 20) & live in Virginia. I plan on moving to Michigan (near the Detroit area) in the next 2-3 months; The reason being to be closer to my boyfriend. & Yes, I am aware that I am leaving a great area to move to a not so great area... I am very aware of the economic crisis in Michigan & the high unemployement rate. However, you have to follow your heart, right? (It's already been decided that I will be the one who moves -- I want a fresh start anyways & he doesn't).
Anywho, we will be living together. There will possibly by another roomate, or it might just be us, we haven't straightened that out yet. My boyfriend is friends with the landlord & has the house picked out so that's not an issue. Rent will be around $300/month each & around $1000 each for the deposit (which includes the 1st & last months rent). I'm not sure how much utilities, water, etc. will be (we are going to be straightening all this out in about a week). The area we will be living in is safe, it's not in or too close to Detroit.
A little about my background. I work part-time in fast food making $8/hr. I've held my job for going on 9 months now... My boss loves me & will give me an outstanding review. I've held 4 jobs before this that lasted from a few weeks to 8 months; all in the food service. I have good credit for my age thanks to my dad (he co-signed for a loan that I paid off). I have 2 credit cards: a Walmart card that I owe $400 on, $25/mo. min. payments, no interest until 2014, $800 limit & a Firestone card (car company) with an $800 limit, owe nothing.
I have about $750 saved up. I am working on getting a 2nd job to save up extra money in the next 2-3 months, so I anticipate on saving up another 1-2k that way. I also qualify for a $3000 loan at the moment, that would have to be paid off $50 per month for 60 months. I am debating on taking that out to help with moving costs. I know it's not the best idea, but I really just want to get down there fast. If I do get a second job & double my income, I can probably get a 5k or 6k loan.
So I'll have at least 5k going down there. Minus 1k for the deposit & minus 1k for furnishing the place. Getting down there will only cost $100 because I'm not bringing any of my furniture, just my car. (I have my own car by the way, it has 110,000 miles on it & should be good for another 90,000, just got it out of the shop & the repair people said it shouldn't need any 'big' repairs for at least a few years).
I estimate it will cost around $900/mo. to live, including rent, food, gas, car insurance, loan payments & some extra for 'fun' stuff (my parents agreed to keep paying my phone bill). So that gives me at least 3 months to find a job, even after paying for things like registering my car, getting my drivers license changed, etc.
However, once I find full-time employment, I will be making min. wage, which will BARELY make ends meet. I'm worried about living on such a tight budget. I've done 1 year at comm. college but would like to start over (changed my mind about what I want to go to school for). I plan on enrolling in comm. college in Michigan, however I'll need financial aid. But, my parents make too much for me to get any help aside from loans. Any advice on this? Should I go to school full-time & work part-time & take out massive loans to help pay the rent? Or work full-time & go to school part-time? Any ideas?
Also, will I qualify for any gov't assistance? Such as food stamps or the like? I do not have any children, however min. wage really is barely enough to live on... it's crazy!
Any advice, aside from not moving? I *am* moving, I just want to be as prepared as possible!
Thank you for ANY suggestions at ALL! I REALLY appreciate it! (:
Don't go to school right away.
Work as many jobs as you can, save as much as you can.
Establish residency in MI. In-state tuition is much cheaper.
If your parents don't claim you as a dependant, you can will be eligible for more financial aid.
Check out the FASFA guidelines.
Try to avoid any debt/loans.
It is much better to work full time and go to school part time.
Live below your means now, and you can have a successful life in the future.
Good luck. It won't be easy or always "fun", but you can do it.
I grew up and spent most of 30 years living in the suburbs of Detroit and depending what city I think it is a really nice place to live. What city are you looking at? There are some pretty good community colleges in the area in my opinion anway. What type of job are you looking for? When I was younger I waited tables which makes more then min wage and can be more flexible around school schedules. I am not familiar with assistance.
How long have you been with your BF? I hope things work out but lets say things don't then what are you going to do? I guess I am concerned since you are young and don't have a lot of financial resource it sounds that if you break up. What does your family think? Also on the break up issue a concern is when you sign a lease at the place will you all be on the lease?
You probably don't want to hear this, but I wouldn't move until I had enough money to cover all moving costs in cash and extra money in the bank to fall back on should it take awhile to get a job. You are not in a position to take on anymore debt IMO. When you're living paycheck to paycheck even if the minimum payment is 25 dollars that's 25 less dollars you have to buy food, pay utilities, etc.
Being on your own can be really hard. You want to set yourself up for success in every way possible. If your parents don't claim you as a dependent you can probably get some help going to school. If you have to take out loans for school, take out the minimum. Tuition, books. Do not take out rent and spending money! Too many people treat students loans like free money, then act outraged when they have to pay them back.
How do you feel about waitressing? I did it all through college and made a lot more than minimum wage. You may have to get in somewhere as a hostess or busser and work your way up, but I think it's worth it.
You probably don't want to hear this, but I wouldn't move until I had enough money to cover all moving costs in cash and extra money in the bank to fall back on should it take awhile to get a job. You are not in a position to take on anymore debt IMO. When you're living paycheck to paycheck even if the minimum payment is 25 dollars that's 25 less dollars you have to buy food, pay utilities, etc.
Being on your own can be really hard. You want to set yourself up for success in every way possible. If your parents don't claim you as a dependent you can probably get some help going to school. If you have to take out loans for school, take out the minimum. Tuition, books. Do not take out rent and spending money! Too many people treat students loans like free money, then act outraged when they have to pay them back.
How do you feel about waitressing? I did it all through college and made a lot more than minimum wage. You may have to get in somewhere as a hostess or busser and work your way up, but I think it's worth it.
That's good advice. I probably could have moved a while ago, but I wanted flexibility. So I have saved up more than I really need and am now doing it. However some don't have that luxury, but its always best so you're not struggling.
That's good advice. I probably could have moved a while ago, but I wanted flexibility. So I have saved up more than I really need and am now doing it. However some don't have that luxury, but its always best so you're not struggling.
Thank you. I had living expenses to last several months when I moved, but it was still a very scary feeling paying bills out of my checking account and watching the money go down when I wasn't bringing anymore in.
I know you don't want to hear this, but I'd tell you to stay for now. But if you insist on moving (and sometimes it's just time), I'd think long and hard about what you're going to do if things fail. If you don't find a job, don't find one working full-time, (Detroit has a pretty high unemployment rate if you never knew it before), or if you and your boyfriend break up. What if there is some kind of disaster, like a tornado, car accident, flood, or a break-in? A robbery. These things could happen and it's best to think of how you'll handle it before these things come up.
If I were you, I'd wait for college unless you REALLY know what you want to do for two reasons; one, you may still not know what you really want to do. Life can change in a short time. And two; you can get in school without financial aid after you establish residency in Michigan away from your parents, get a little credit under your belt and are not tied down to mom and dad's finances by default.
Good luck to you.
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