I don't know how I feel about using debt repayment money to move. On one hand, the money we spend moving would go a long way toward paying off our debt. On the other hand, we can pay debt off from anywhere, so why not take an extra 6 months to pay the debt and be happy in the process? We are kind of lucky in that the job part of relocating is the hardest part, and that will be done. Marty has a job, so it is just a question of us getting there and finding a place to live.
I have no idea how much a big move like this would cost. I picked $10k as the goal, but that number is pretty arbitrary at this point.
So far, I know that a moving truck will cost between $1200 and $2500, depending on what company we use and what size truck we get. Marty's company might pay for the truck, too. (They paid to move us here but since we are requesting the transfer, I don't know if they would pay. I am assuming not and if they do we will consider it a bonus.)
Then there is gas for our van and the moving truck, hotel rooms for 2-4 nights (depending on where we go), food for the move, first and last for rent/deposit, any utility deposits, a hotel for probably a week while we look for a place (unless I luck out and find one online)... the list is endless.
Right now there is a 90% chance that if we go, we will go to Florida. There are 11 restaurants in Florida and 6 are either in Orlando or within 30 minutes of Orlando. The boys are pretty excited about the idea of moving to the Orlando area, because Florida residents get a resident discount on annual passes to Disney. For the 5 of us it would be right around $2300 for a year long pass to all of the parks, including the water parks. (f the numbers I found online are accurate. Don't try to buy a resident pass and get mad at me if the numbers are different.)
Florida Resident Premium Annual Passport (PAP)- unlimited admissions to the Magic Kingdom, Epcot, Disney-MGM Studios, Disney's Animal Kingdom, River Country (when operating), Pleasure Island, Typhoon Lagoon, Blizzard Beach, Disney Quest and Disney's Wide World of Sports during regular operating hours. No blackouts apply. PAP also includes free parking.
I know Mickey would welcome us with open arms.
So what do you think? Is it wrong to spend your debt snowball to move? What would Dave do??
2 comments:
Seriously, if you think this will only put you back 6 months then I would say do it. I think Dave might even say do it. (maybe I'm deluding myself with that one!) but really, this is your life we are talking about. If the only reason you aren't doing it is the 6 month debt reduction then I say go. If you think you will be happier then 6 months is no big deal in the grand scheme of things.
When I left my job I had some stock options that I could exercise which was nice. I also had some that were maturing in 6 months. It was about $3K worth. Nothing huge, but nice. Our financial planner told me that you can always find a reason to stay where you are and that really, in 20 years will that 3K mean anything or will the fact the I got to enjoy my daughters first year mean more.
In 20 years this 6 months will seem like nothing.
Wow, I think that is a high move estimate. You ought to try one of the 'you move it" companies, where you pack up, but they drive the truck. Without paying gas, it can be a lot cheaper.
You also ought to look into downsizing and getting rid of stuff so there is less to move.
Try to find a place to live before getting there, and you may not have to spend a lot on hotels. If you do need to end up spending $$on hotels, bargain for a really cheap weekly rate (tell them you don't need maid service, etc.).
borrow boxes, or get boxes from grocery stores.
I would only move if it was going to make it easier for you to pay off your debt. If this would be a way for you to get out of debt faster than by staying put, then do it. If not, staying put might be the very best thing to do.
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