As to what have I been up to... not a lot. Not a lot at all. Running a LOT of numbers and being really homesick of Chicago. (Hint: I may return in the summer time!) I guess I have never really shared what my plans are, so perhaps you guys can give me a hand and let me know how realistic my scenarios look.
My standard plan right now is to continue snowballing debt until only my larger student loan (L2) is left, then split the disposable income into half debt-half savings. This will get rid of L2 by January 2015 (effectively ridding me of ALL debt), and gives me a nice 5.50 months of living expenses by May'15, which is my preferred date to move. In my mind, I am considering the scenario that I resign, pack up and move, find a job and life goes on. I have to consider the possibility of not being able to find something right away, or not even 6 months in. I am not allowing myself to think what would happen after 6 months without finding a job, because I am very flexible and have a lot of labor-type experience and would make it work. Needless to say, it still concerns me.
I think I am more than likely to have found a job, even if part time by the time I've moved, but I still want to have that 6 month cushion. Who knows, if I don't end up using it, I may just take the rest as start-up mortgage down payment!
My question would be if it is realistic to wait that long? Should I just take a jump of faith? If I could convince myself I could just pick up and move in a few months with a job offer in hand, you better believe I'd be packing now, but perhaps I am being overly cautious about it and I want to have ALL bases covered.
I don't know if everyone could relate to this, but I think it could look similar to other big decisions. Are you the type of person who jumps in first, asks questions later, or do you plan plan plan until the end of time (like I do)? How would you find compromise?
I hate the new Blogger too. I am thinking of going to Wordpress.
ReplyDeleteYou know, I moved across the world, so big changes don't scare me :)But I'm definitely the type of person who plans plans plans... I love the idea of having a 6-month cushion before you move, just in case.And obviously, the less debt you take with you the better. But did you try to see if there are any job opportunities in your dream city right now? I would definitely check it out, just to see where you stand.
ReplyDeleteI hate the new blogger also. And I agree, I would try and get that 6 month cushion.
ReplyDeleteFred and I talk about things to death. On any given subject, he would jump first and I would hesitate. And then on other things, we change roles. It works for us and we've been doing it for over 22 years now.
ReplyDeleteGood luck to you my Friend. m.
Can I borrow Fred? Or you? Or both? I need to talk some things to death, but even the wall has gotten bored of listening to me!
DeleteSorry to say I would wait. With the economy in the mess it is right now finding a job could take a long time. Knock that debt out, stash your $$ in the EF and dream a little longer. You will be there soon
ReplyDeleteBeing a cautious sort of person I would wait too. There's a saying that goes something like this: a goal without a plan is just a dream. You gotta have a plan and the one you've outlined is very sound. Better to go with a plan and some money behind you - who knows what the job market will be like by then, hopefully better but you never know. You want this move to be successful and permanent, not helter skelter all over the place. All good things come to those who wait!
ReplyDeleteI love that saying. I am SO printing that out. Thanks for the advice!
DeleteWhat is it with this new Blogger thing? Seems much less user-friendly. Count me among the haters. I'm also one of the planners. I've been known to drive DH crazy. In your situation, though, I think planning is a necessity. In these economic times, I think it would be foolish to make such a drastic change without a job in hand. Financial suicide, if you ask me. (Of course, I realize that I am the last person anyone should be taking financial advice from :) Is there anything stopping you from feeling out job opportunities now? Finding a job first, moving next? You'll likely make your dreams come true if you do things in the right order! Good luck!
ReplyDeleteSarah
I've been looking at what the market looks like there (where I want to move), and it looks a heck of a lot better than it does where I am currently living!
DeleteOh, i'm a definite planner!! Especially 'cause I have 4 kids! It would be foolish for me to "jump first, then look". Definitely not how I roll... lol!! I think you'd be wise to work on your debt and save, save, SAVE!!! :) Good luck sweetie!!!
ReplyDeleteThat's definitely something I forgot to mention! Being single and with nobody to take care of or respond to DOES make a difference in my situation, doesnt it?
DeleteI actually don't like the new blogger layout from a personal perspective but from a technical perspective I can admit it is much better and I could grow to like it(especially since I don't have a choice). To be honest, I'm warming up to it now.
ReplyDeleteAbout the move. In your situation, I would make the decision based on when I could get a job and how it would affect my happiness. Since you are single and have no dependents, if I could get a job tomorrow, I would probably take the jump and leave everything else to chance. I know you want to pay off debts first and save a little but if you still had a job when you move, you could just continue to pay down the debts and save and be happier from what it seems. The only thing that would hold me back from moving is not securing a job first.
Nothing is wrong with planning though, so do what you are most comfortable with. Planning is the safest route and doing it without debt will make it easier and a little less stressful. It all depends on what makes you happiest and most comfortable.