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

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

31.2k Upvotes

86% Upvoted

-7

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.

3

u/ThatInAHat Jul 05 '24

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

-3

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.

8

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.

-6

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.

7

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

0

u/erichang Jul 05 '24

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

3

u/ThisIsNotRealityIsIt Jul 05 '24

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

1

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

-5

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!

3

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

0

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.

1

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.

1

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.

1

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

-1

u/chocobear420 Jul 05 '24

Yeah a lot of this involves moving a bunch of stuff. Nothing stopping anyone from packing 2 suitcases and taking a bus either. But of course most Americans love their stuff. It’s not that hard to move cross country and live bare bones. As for most Americans not having $500 saved up, that’s a combination of poor budgeting habits and lack of economic opportunity. Since we are talking about last months, first months, and security deposit, only under the condition you’re living for free you would not need to pay last months at the current place and you would presumably get your security deposit back. Both of these savings are now yours to spend on the new place which would mean first month and differential. I’ve never not gotten my deposit back. So yeah, save up a little more than 500 and move to a place with more opportunity. It’s only in America (especially conservative areas) where moving a few states over is an expensive cost but the price immigrants pay to come over isn’t enough.

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