Relocating Is Hard Work: Pt 2 – Money

Posted on by

WHAT TO DO WHEN YOU GET $7500 IN ONE LUMP SUM

So I recently received my relo money.  What to do with one lump sum of $7500?  Well, of course I’m supposed to “relocate” with it, but what does that mean, exactly?

GAS/HOTEL

We’re driving my car up over the course of two days.  1283 miles, getting 28 miles per gallon (at least), averaging gas of $3/gallon, that means we’ll spend approx. $137.46 in gas.

We’re driving 8 hours New Orleans to Knoxville on day 1, ten hours Knoxville to Basking Ridge on day 2.  One hotel night has been booked.  $85.

CAR MAINTENANCE

My car, despite having 102,000+ miles in its 5 short years of life, is in excellent condition.  Before we go, I’ll get an oil change, Michael is changing the rotors, rotating the tires, and flushing the coolant system.  At most, this will cost $250.

FLIGHTS

After driving up and moving in, Michael will stay with me in NJ for a few weeks (glad he’s free this summer!).  He’ll fly home end of July/early August, as his school semester will start shortly thereafter.  His ticket home is $150.

My mom wants to come visit.  As you know, we’re super close, and the thought of her not knowing where I live is unthinkable.  I’m happy to pay for her round trip ticket, $300.

That’s $922.46, leaving $6577.54 to spare.  What else should I spend it on?

Let me tell you, the tempation has been strong…

…to buy gifts for everyone I know.  I’m at the end of this internship and I’m getting all the feels about leaving this great team and I just want to buy everyone who’s helped me along the way something super nice.

…to go to the casino.  Guilty.  We love it.  We haven’t been since March 2014.  We used to go all the time and have SO much fun.  I definitely miss it.

…to buy new bras and underwear.  I think I last bought these items in… 2009?

…to get a massage.  My everything hurts, and I miss my monthly massage membership I obviously gave up when I embarked on my debt repayment journey.

…to buy Michael new clothes.  He’s not a complainer, and we aren’t really fashion-people, but his clothes are certainly looking pretty worn.  We last bought him clothes in 2013.

…to see Broadway shows.  We’ll be SO close to NYC and we love theatre so much!  I know we’ll end up going at some point.  I think we’re going to attempt the TKTS booth thing.  More on this later.

…this list could go on and on, let me tell you, I’ve thought about it all.

What are we actually going to do?

Pay for my flights to come home once a month through the end of 2016, and more importantly: Pay off a credit card!  I’m so excited about this.  SO EXCITED.  I paid off one little one many months back, and have been doing pretty well paying off the others.  I’ve been extremely diligent about not using credit cards at all since the year started.  Now, I’ll be paying off my gas card (balance $2000+) because it has the highest interest rate at 24.99% (BARF).  I’ve also worked into my budget real money to pay for gas each month so we won’t ever have to use the gas card again.  Hallelujah.

And there goes my $7500.  What would you do with the money?  Just for fun, what would you be tempted to do with the money??

19 thoughts on “Relocating Is Hard Work: Pt 2 – Money”

  1. Paying off your credit card sounds like a smart idea! I would be tempted to spend it on a nice vacation out of the country.

    Like

    Reply ↓

  2. Ok, so I had to go back and read your last few posts to get caught up because holy cow a lot is happening in your life!!

    I think putting that $7,500 towards flights and your credit card is a good idea. If it was me, I’d put that $7,500 towards my house down payment fund, bringing it up to $14,300. That would be amazing! If I had debt, I’d definitely put it towards debt, which is what you are doing so good for you!

    Good luck on your move! It’s a stressful situation but you seem to be handling it very well – kudos!

    Like

    Reply ↓

    • Thanks so much! Yes, holy cow is right. Hahaha. A lot is going on, but I’m excited. It’s all going really well, it’s just a lot to have to think about all at once!

      Like

      Reply ↓

  3. ooooooooooh, let me think, let me think … Okay, I’d just bank it. I used to be so adventurous and spontaneous. Now I just want a giant nest egg. Boriiiiiiiiiiiiiiiiiiiing! :O

    I like your ideas better! Enjoy and do what makes you guys happy with it! 🙂

    Like

    Reply ↓

  4. The temptation would be strong indeed, but YAY for doing the right thing with the money. Go you!!! This will further help your bottom line over the next year, proving God has this in His control.

    Like

    Reply ↓

  5. I’m glad you’re putting money towards your debt. I just wrote a post on Frugal Rules today about all the things I really “wanted” if I didn’t care about doing the “right” thing. Sigh…responsibility sucks. 🙂

    Like

    Reply ↓

  7. I’d probably stash it into savings, since we don’t have credit card debt anymore. That said, I would actually recommend getting a massage before you go. Get one on Groupon if need be, but trust me.

    We drove about 1,500 miles from Seattle to Phoenix. It took us a few days because of my chronic fatigue and his, at the time, incredibly messed-up sleep schedule — both of which made it hard for either of us to drive for too long.

    Even so, being tense at the wheel (when you have fatigue, you’re always tense, afraid you’re going to hit something or drift or something) and the general stress of the move took its toll.

    So I’d think about getting one ahead of time. You don’t want any small kinks to blow up into pain that makes it hard to drive. And maybe one after that. Again, Groupon is a good source.

    Like

    Reply ↓

  9. Pingback: Relocating Is Hard Work: Pt 4 – More Unexpected Curveballs | SmashOdyssey

  10. Pingback: Relocating Isn’t All Bad: Pt. 5 – Seeing Friends and Family | SmashOdyssey

  11. Pingback: Relocation Complete: Pt 6 – New Job, New Home, New Adventures | SmashOdyssey

Comment here.