New Stuff & Moving
Moving 1,500 miles is going to cost a LOT of money! In order to off-set the cost of moving, I'm going to try to sell my some of my books, DVDs, and CDs (advice from Dog Ate My Finances). I'm going to create a moving account and contribute any money I make from selling my stuff. I will also start contributing to this account with money from my primary pay check in June. I don't think I will be able to cover the cost of the move, but I will try to lessen the burden on my emergency fund.
I've cancelled my automatic Roth IRA contributions for 2008. I contribute $250 per month. This year, I've contributed $1,000; so I can contribute a lot more before I reach the limit. However, I have quite a few things that I need to purchase for the fall semester. By stopping my Roth IRA contributions, I will be able to save $1,000 to put toward my transition into studentdom. I am still contributing to my employer's 401(k).
I will need to purchase a new computer. My current laptop is over 7 years old. I would like to purchase another laptop with a wireless card, so I can get free Internet access. Depending on my moving strategy, I will probably need to purchase a bed and a couch.
Jon at Patient Investing asked me about my down payment fund and home purchase plan. Unfortunately, going to graduate school is going to delay my first home purchase. I'm undecided if I want to keep my down payment account or roll it into my emergency fund. I'm leaning toward keeping the account separate and still contributing the small amounts that I make online.
8 comments:
i highly recommend craigslist and freecycle for your purchasing needs. :)
Good idea on selling your things. It can make you money and minimize the amount of stuff you have to move. Last time I moved, I sold everything I could to lightened the load.
Good luck!
Also, you want to start listing your stuff for sale as soon as you can. Somethings take awhile to sell.
esme stole my comment. ;) Selling stuff definitely makes it easier to move - I advise selling anything you don't love or use regularly, or wouldn't be willing to move twice.
Not to be a broken record but it really is worth it to sell everything you can, even if you have to buy it all over again after you move. I've done several long distance student moves, and it's a whole lot cheaper and easier if there's only one vehicle involved. That means paring everything down to one car load and maybe a few boxes of easily-shipped items. When I moved across the country it worked out to be cheaper (and liberating) to get rid of everything else (furniture, appliances, etc) and replace what I needed from Craigslist and thrift stores in my new location.
If you need more than one carload but a moving van is too much, there's the compromise of renting a minivan from a car rental place. They have unlimited miles and get better mileage, but don't carry as much.
My experience in a long graduate program has been that it's expensive, avoiding debt is ambitious, and saving/investing is almost impossible. If it were me I'd keep the downpayment fund earmarked for that but wouldn't feel bad about putting savings and the Roth on hold while you're in school.
Hey thanks for visiting and for the kind words. Good luck to you too! I'd love to save for a home too, but first we need to get rid of our debt. Ouch! I won't be able to go to grad school for another 2-3 years. Best wishes!
paradigmshifted, I will definitely be looking for a couch through these websites.
esme, I think I'm going to go on a listing spree this weekend! :) At least CDs and DVDs on half.com.
jane, I'm going to have to be very picky about what I choose to move. I've already started to decrease the items in my wardrobe.
kevin, I think the minivan is a good idea, but my stuff is relatively inexpensive (except for my mattress). I think the gas (especially if it keeps increasing) for two cars just makes it more practical to purchase new items.
lucian's mommy, I had to turn my net worth around before I went to graduate school also. I don't want to acquire any additional debt.
Hey! Glad I could help! Those collections, in my extensive moving experience, are dead weight. Better to sell them now before DVDs are totally obsolete.
Post a Comment