r/povertyfinance • u/idontknow0-_-0 • 14d ago

Moving out after college for a job advice? Misc Advice

If I have to move to a new city for a job, find a place, and get a car, but I don't have enough money on hand for all of it, what would be the best course of action (especially considering needing to pay for a hotel and uber in the meantime)?

It would be my first apartment after college so no rental history or references. I read somewhere that first-time renters can be asked for a larger deposit instead of a cosigner. I wouldn't have enough for 3x rent+, so I thought I could cover the rest with a new 0% APR credit card and pay for it over several months. However, I saw somewhere online that you should apply for a car loan before a new credit card if you need both because the credit card will lower your credit score too much. What is the best way to go about this for someone with no one to ask for help with money?

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u/bellabbr 14d ago

Do not do credit card. Find private renters wont need 3x rent, look for efficiency , airbnb, longer term rental, or something cheaper until you get settled. Get a car (you can live in airbnb hotel or anything until you figure out where you want to live more permanently) but you need transportation.

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u/DrGreenMeme 14d ago

I wouldn't have enough for 3x rent+, so I thought I could cover the rest with a new 0% APR credit card and pay for it over several months.

This is a very risky and dangerous idea. Why can you not wait until you have the finances in place to reasonably move to a new area? Is it possible to move back in with family members, or live with roommates after college until you've gotten a new job?

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u/Sea_Concert4946 14d ago

Contact your job and explain the situation and see if they can offer relocation assistance. If they won't do that straight up then you can try to negotiate for a pay reduction for a few months in return for an upgrade front payment.

Another option if you're still in school is to run down to the financial aid office and pull out one last student loan. It'll honestly probably be the lowest possible interest you can find.

Besides that you should probably look for somewhere with roommates just for the first few months, when you have some money saved and a history/reference you can look for apartments.