I lost my last job and I’m struggling to keep up with rent. The jobs I’m applying for mostly pay around $2,600 a month, but my rent is $2,100. I live in the northeast, so rent prices are crazy.
I used to live with my mom, but she passed away, and my brother wanted to sell the house. I’ve been using the money from that sale to get by, but it won’t last forever. I don’t have any family I can stay with.
Should I keep looking for a job that pays more, or should I move to a cheaper place now before I run out of savings? Not sure what’s the best move here.
Unless you can double your income right away, you need to find a cheaper place or a roommate. Rent should be around 30-40% of your income, not 80%. Right now, you’re making it work because of savings, but that won’t last forever.
You need to take whatever temporary jobs you can to keep money coming in while you look for something better. Also, I don’t understand why you’re asking if you should ‘keep looking for a job.’ What else would you do? You have to keep applying and working towards something sustainable.
Are you on a lease, or is it month-to-month? If you have a lease, breaking it could cost money, and moving itself isn’t cheap—first month’s rent, security deposit, moving expenses, etc. If you can get a job paying $2,600, that’s still better than no job, but keep looking for better pay while getting income flowing in.
@AbolishWallstreet
You might want to talk to your landlord and explain your situation. If the apartment is in high demand, they might let you out of the lease early without penalty.
If possible, look for a roommate or even crash on someone’s couch for a while. The priority is cutting rent costs until your income is stable. One step at a time.
Find a cheaper place now. Even if you land a job, there’s always a risk it won’t work out. Once you have stable income and savings, you can move somewhere better later.