Monday, September 20, 2010

Saving Money

Back to the saving money bit.

If, like me, you are looking into getting a job in another city/state you will need at least $10,000 - $15,000. Why? Because some leasing companies will not rent to you unless you have that much saved up. They want to make sure that should you loose your job that you will be able to pay them. It also shows that you can pay them.

Makes sense? I didn't think so.

To them you are an investment. If they have to evict you that will cost them a good deal of money and they do not like loosing money. (I heard locally there is about 3 months of non-payment prior to eviction.) So they want to make sure that they won't have to evict you. They will possibly also run a credit check and background check. So don't be surprise if they present you with these forms.

If in 6 years I end up getting a better job locally(fat chance but a possibility) I might use my saved money for a down payment on a house. The housing market here is not all that good right now. But in a few years? who knows. It's a possibility I have to keep in mind.

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