Looking for input...

**Luv2BeFrugal** · 01-22-2008, 04:42 PM

A friend of ours up here isn't sure what choice he should make. I'm really not sure which way to advise him and he's looking for input. So, I thought I'd run it past you all.

Choice A - Stay living here, at least until he's debt free...small place, health problems in apartment (high dust levels even with filter, possible mold in walls...that's the only place he can afford here...rent is crazy!). He has some family and friends here that would help in an emergency, so that's always a plus (ie. support system). He can pay off debt fully in appx. 4.5 years.

Choice B - Move, incurring moving expenses (I worked this up with him...looks like it'd run about $6K for him, his stuff, and one car to get to the place he's talking about moving...and then into an apartment...deposit, first month's rent, etc). He'd get the fresh start he's looking for (but would be missed!). He doesn't know anyone there, but there's a good job that would be waiting for him. Would make about 20% less there than here, but the cost of living is lower there (but, not enough to make up the 20%). Would take appx. 6.5 years to pay off debt fully.

So, what you you chose and why? I'm at a loss as to which choice is "better"...The frugal side of me says "STAY! Pay it all off sooner!!" and the side of me that wants to see him happy and healthy says "go, it's only 2 more years of paying time and you'll have your health!".

**Squirt** · 01-22-2008, 04:47 PM

I think that if the cost of living in choice B isn't enough to make up for the pay, it would be more worthwhile to look for another place to live right where he is.

**Luv2BeFrugal** · 01-22-2008, 04:55 PM

It's the smallest, cheapest place he can find...a MIL apt attached to an older house... Next step up would be an additional $300/mo for rent (minimum)...that would extend his payoff time considerably...taking away the "advantage" of staying here to payoff.

**Darlene** · 01-22-2008, 04:58 PM

Can he move into another place and share it with someone?

**StaceyS** · 01-22-2008, 05:03 PM

I just did this (sort of). I was in a small efficiency type apartment, but made the choice to incur at least $250 additional living expenses because I felt horrible in the place I was. There were only 14 units and AT LEAST HALF of them were doing/dealing drugs. The place I'm in isn't perfect, but in my mind I'm much safer. It will take that much longer for me to pay off my debt, but to me it's worth it!

**leezza** · 01-22-2008, 05:04 PM

Choice A: (and here is why)

*No moving expenses
*Try finding a room to rent, (to save on rent money).
*Family & Friends are very important, when you have health issues you need all the support you can get.
*Pay off debt sooner
*Moving is very stressful, so that would not help his health issues.
*The way things are looking right now in the economy I wouldn't want to make any additional bills or change jobs.

Is it any cheaper to move out towards Palmer???? I would check to want adds in the Anchorage paper and see if anyone is looking for a roommate situation, (lots of folks with those big fancy houses rent out rooms for less than an apartment).

JMHO,
leezza

**tbs727** · 01-22-2008, 05:07 PM

I would say he should go or stay in the place where the best future opportunity is. For example, he has a good job where he is now, but no room for advance then he might as well leave, but if the new job has no room for advance then he could stay and pay off debt.

**Luv2BeFrugal** · 01-22-2008, 05:11 PM

Possibly? He's only paying $300/mo for the place he's in now (which is FREE here). He also has access to W/D for free. And this includes his internet. It's tiny, it's old, it's in bad shape...but it's in a fairly safe area.

The next step up is an efficiency apartment (in the worst area of town)...they run $600/mo + electric... Then he'd have to pay for a laundromat...and internet. Or course, that would mean sharing one open area with a roommate. Cheapest 1 bd we found runs $700-$745/mo... (Cheapest in town...just checked apartments.com again...that's fairly reliable for the area). It just goes up, up, up from there.

He really does have the best deal possible... I really feel for him...he's kinda "hemmed in".

**Luv2BeFrugal** · 01-22-2008, 05:14 PM

Originally Posted by leezza

Choice A: (and here is why)

*No moving expenses
*Try finding a room to rent, (to save on rent money).
*Family & Friends are very important, when you have health issues you need all the support you can get.
*Pay off debt sooner
*Moving is very stressful, so that would not help his health issues.
*The way things are looking right now in the economy I wouldn't want to make any additional bills or change jobs.

Is it any cheaper to move out towards Palmer???? I would check to want adds in the Anchorage paper and see if anyone is looking for a roommate situation, (lots of folks with those big fancy houses rent out rooms for less than an apartment).

JMHO,
leezza

There are very few apartments in the Valley (Palmer/Wasilla)...sometimes they're a better deal than here in town, but when you factor in an hour's drive each way to work...well, with gas prices like they are...OUCH.

**Luv2BeFrugal** · 01-22-2008, 05:21 PM

Oh! Meant to add to that... Room rentals run $400-$600...depending on the area and house privileges. (I'm guessing because mortgage payments are so high?? I dunno? Dh and I looked into renting a room for a while...just to pay down debt faster...couldn't believe what people were asking!!!

)

**mom2matty** · 01-22-2008, 05:26 PM

The thing that jumps out at me the most is in choice A he is dealing with possible mold in walls and dust issues that are affecting his health! Between the 2 I would take choice B.

**Luv2BeFrugal** · 01-23-2008, 03:53 AM

I'm gonna send him the link to this thread so he can give it a read-thru...

Hopefully it'll help him come to a decision??

Thanks ladies!

**Paperclip** · 01-23-2008, 08:12 AM

I'd go for choice B. We're talking years here not months. If I wasn't comfortable with where I'm living I'd move. I find if I'm happy with where I live I'm able to take on life head-on.

**annymoll** · 01-23-2008, 08:49 AM

I would not want to see a friend live in a home that is contributing to poor physical health. Staying heathy over rides frugality, especially for those I care about.I would advise Plan B.(Mold in the walls can be a very serious health risk.If it comes to the attention of certain authorities they will not allow anyone to live there until the problem is addressed.)

**mommy4ever** · 01-23-2008, 09:00 AM

Since teh first place is contributing to health issues, I'd say get out of there ASAP.

What good is staying for cheap rent if you end up with failing health and can't work period.

I'd get him to talk to friends and family and see if they are will to rent him a room before moving and leaving a job. Make sure everyone does up a clear concise contract so there's no room for misunderstanding.

If no one is willing to do so, thena move to the next town is in order. Not much else to do. Health has to take a priority. Mold is nasty stuff!