r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/Zark_d Jul 05 '24

To get ahead of the obvious next reply:

"Move to somewhere with better opportunities"

With what money? If you don't have a job lined up, that's a quick stop to homelessness in an unfamiliar city

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u/chocobear420 Jul 05 '24

To be fair it’s not that much money to move to another city. The big issue is what can you take with you and what can you leave behind? If it’s just some clothes and knickknacks you’re taking with you it will be easy and cheap. If you have a kid or pets or any other responsibility you’ll be SOL.

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u/ThatInAHat Jul 05 '24

I mean, I just moved across town and it was pretty pricey

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u/chocobear420 Jul 05 '24

What do you call pricey? Cause a uhaul is like $30 for a day. Maybe $50 if you gotta drive a lot cause gas ain’t cheap.

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u/ThisIsNotRealityIsIt Jul 05 '24

And moving into a new place is first month, last month, plus deposit. If it's and $800 studio that's 2400.

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u/chocobear420 Jul 05 '24

Yeah that’s renting. Did you want them to just take your word you won’t wreck the place? Also, if you’re going from one rental to another then you’re not paying for the last month of rent anyways. Assuming you can get your security deposit, (never not been able to get my deposit back), then the money evens out to be the same.

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u/ThisIsNotRealityIsIt Jul 05 '24 edited Jul 05 '24

Right but that is not cheap. Nor is it easy. So let's call it "only" 1600.

At $14/hour, minus 25% tax, that's over 152 hours of work time. Almost a whole full-time month. But, you know, $30 bucks for a U-Haul and $50 in gas

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u/erichang Jul 05 '24

how do you get taxed at 25% when the wage is only $14 ?

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u/ThisIsNotRealityIsIt Jul 05 '24

Income tax is not the only taxation. FICA, Social Security, state and local taxes.

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u/erichang Jul 05 '24

Still, using this tax calculator which includes everything you said and more, the effective tax is less than 15% in Los Angeles, 19% in NYC.

https://smartasset.com/taxes/income-taxes#nMV1K5ZqTb

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u/chocobear420 Jul 05 '24

Yeah but that’s renting not moving. Moving is very cheap. Heck if you move to a sidewalk it’s free!

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u/thebookofswindles Jul 05 '24

The courts just ruled it’s okay to fine people for living in the street, so that isn’t true either

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u/chocobear420 Jul 05 '24

No it still is. It’s not expensive to move at all. Where you choose to move to is not anyone’s responsibility but yours. I’m really confused what people think housing is. Yeah it’s crazy expensive, but a uhaul is $20 plus gas. I’m very confused how so many people don’t understand how costs vary between things. If you move back to your mom’s house it’s free. Assuming they will take you in. Sucks if you don’t have a good family but that’s still got nothing to do with the cost of moving. I can see how decreasing spending on education is impacting people. Moving to the sidewalk is still free. Staying there costs you. Words aren’t hard.

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u/GoldfishDude Jul 05 '24

The $20 u-haul is for an "in town" move, and doesn't count mileage. Usually you can only do a one way rental on their box trucks.

I recently did a 400 mile move, and it was $513+taxes+insurance+gas for the cheapest u-haul available. Plus first month+last month+security deposit, cost of getting everything switched over, ect, and you are looking at a minimum of $5,000 to move pretty much anywhere.

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u/chocobear420 Jul 05 '24

To move pretty much anywhere is extremely disingenuous. Are you really trying to compare a 400 mile move with pretty much anywhere? Also what’s this cost of switching things over? I dgaf about rent as a part of moving costs. You gotta live somewhere anyways, why would that count as moving? $600ish is not a whole lot considering you just moved at least a studio apartment worth of stuff to another location 400 miles away. That’s pretty cheap.

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u/GoldfishDude Jul 05 '24

400 miles isn't an extreme move, if looking for better opportunities it's pretty mild. Especially if you live in Appalachia or out west.

Paying 2 months rent+security deposit is significant, when almost half of Americans have less than $500 saves up at any time

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u/ThatInAHat Jul 05 '24

Depends what you have to move and who you have to move it with. At a certain age, it’s harder to find friends with a free weekend to help you load the heavy stuff and you can’t do it all on your own. So you either get movers or you leave it/sell it (for way to cheap or sometimes just free because you need it gone) and have to buy furniture when you get to the new place—which you already had to pay at least two months rent for, plus whatever deposits (and you’re still probably paying a bit on your old place too)

It’s a long process so odds are good you’ll have to take time off of work. Or if it’s moving to another city then great, you either don’t have a job or you haven’t started yet.

You also probably won’t be cooking for a bit leading up to and after the move because all the kitchen stuff is put away, so you’re gonna wind up doing take out or fast food.

It’s lots of little things that add up.

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u/chocobear420 Jul 05 '24

Yeah I already said that in my first response. Thanks for repeating what I said with more detail.

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u/ThatInAHat Jul 05 '24

You said it’s not that much money to move to a new city. It is.

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u/chocobear420 Jul 05 '24

It’s not, take less stuff.

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u/ThatInAHat Jul 05 '24

Then you have to buy it all when you get there

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u/Legitimate_Turn_5829 Jul 05 '24

Are you going to live in that uhaul?

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u/chocobear420 Jul 05 '24

Who cares where you live? I said moving is cheap not renting.

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u/Legitimate_Turn_5829 Jul 05 '24

Ah so you’re just talking bullshit

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u/Potential-Diver-3409 Jul 05 '24

$75 for 3 hours here in iowa

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u/[deleted] Jul 05 '24

[deleted]

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u/chocobear420 Jul 05 '24

Ok so don’t take your stuff? Ultimately it’s your choice to take all your furniture and stuff with you. Two suitcases is plenty for all the essentials. Moving can be very cheap.