First, the good news
I have recently accepted a job that is going to pay me $55,700 which is about $20,000 more than what I am currently making. This new job is about 2 hours away from where I currently work/live, so it is not ideal for me to commute as I am married and have a 6 month old child.
To fix this, my wife and I found a house that is closer to my new job. We applied, and were approved shortly after. The monthly rent for this house will be $1200 and it falls within the 40% gross annual rule and the 1/3 net monthly rule as well.
Where we're having problems
So now that we have everything lined up to better our lives, we have hit a stumbling block. My current landlord is requesting I pay off an agreement we had in which I pay him an extra $165 in rent and he will keep the heating oil tank filled. When I move, there will be roughly 7 months remaining that I owe him. This equates to about $1300, and he is going return the remaining oil and give my money back less fees and what he deems financing charges. I've tried to work a deal out with him to get him his money, but he's standing firm so I don't really have any options on that one.
In addition to the aforementioned $1300 we now have to pay $1200 for our security deposit, $1200 for our first month's rent, and $900 for our pet security deposit. These deposits are non-negotiable and must be paid before the rental agreement begins.
With my current job, my wife and I are living paycheck to paycheck and saving money was not really something we are able to do. Fortunately, when I start my new job we should be making enough to start saving. But for now, we are in a bit of a tight spot because we have to pay $4600 to even get down there. That's not even including the fees for turning on services for our new house and the other moving expenses.
To make things worse, I did a big no-no and borrowed money from a friend to pay-off my car. My payments to him are substantially lower than what I was paying to finance it. The car is a used car, and the shop I purchased it from specializes in high-risk customers. Due to my age, and my lack of credit it is next to impossible for me to get any type of car loan. I would hate to move away from my friend without giving him back his money, but if there are no other options, he will understand. My remaining balance with him is $2700.
Giving us a grand total of $7300.
A little reprieve
Luckily, we have a few family members that are willing to help us out. My father has agreed to give us $2500, and my wife's family is willing to give us $1000. My taxes have been accepted and IRS says they should deposit soon. This will give me an additional $1100 and that will give us the $4600 we need to at least get over to our new house. My issue with all of this is that I'm receiving money from family and I'm not too keen on that. I also cannot pay my friend back before we leave.
I have no ability to take out a loan as my credit score is low due to age of credit. I have applied with my personal bank for a $2500 loan and I got instantly denied. I applied for a loan with my credit union and was turned down as well.
The problem is, when I get this new job then I can pay down my medical bills. I can start to build a life for my family and actually save money. But to get to that point, I have to shell out all of this money. I'm at the end of my rope and running out of options. Even more so, I'm running out of time as I'm supposed to start my new job on 03/10.
Any advice would be great, because I'm running out of ideas on how to save this.
Summarized Info
Current Salary: $34,700 Rent: $550 Additional Rent w/Oil: $165 AVG Electricity: $200/mo Water: $80/mo (This is the minimum) Phone: $120 (Two mobile phones) Internet/TV Bundle: $120 Insurance: $61 AVG Grocery: $350-400 AVG Gas: $15 /wk ($60-$75/mo commuting to work only)
New Salary: $55,700 Rent: $1200 I'm assuming electricity will increase due to the electric heat pump. The rest of the bills should be the same except for water. I checked the fees and rates for water and it should be about $90 every two months.
Submitted February 27, 2017 at 11:22AM by Exitil http://ift.tt/2mmAo4a
