Finance Planning for Move and Grad School

[EmlyAnne]

After a lot of consideration, I have decided I want to further my education and become closer to my desired career with grad school. The two schools that I am currently considering are in Boston, MA and are several states away from where I currently live and work (Missouri.) I am studying for the GRE and feel confident about my skills as a writer. My biggest concern for this goal is: money and where it's going to come from.

 

As of current I am putting $100 dollars into savings a month to help me when I make the move. My goal is to start grad school Fall 2014 and am willing to go part time if I cannot get an assistantship.

 

I was hoping for advice from others who have moved states away, and how they were able to get their belongings to their destination without paying an arm and a leg.

 

Also looking for advice from current grad students on how to be financially stable building my way up to grad school without drowning in debt by the end of all of it.

[RisenPhoenix]

What are you planning on studying?  Broadly speaking, the sciences tend to get tuition remission and a stipend (so they can always be in the lab doing research), while humanities seem to have a tighter reign on the same things.  That'll definitely influence how best to answer your question.

 

EDIT - Also, if you're planning on moving to Boston, it's ridiculously expensive out here.  So look at places to live to gauge how much you should tuck away for a nest egg.

[Seri]

We just moved across the country, but it did cost an arm and a leg. This is for a big family with a TON of stuff, though. Honestly, after suffering through that? I'd recommend selling everything you can handle parting with, especially if that money can go to helping you with the move and this new phase of your life. It cost us about $7,500 plus several fees - in this case, my Aunt's work paid for it (thank goodness) but we still ended up getting slapped with so many small fees from them it was ridiculous. I think we ended up paying another $1,800 all together - and this was with a top-quality moving company from Kansas City, MO to NC. 

 

There are cheaper ways to do it - namely, your own muscle, your own packing, and renting a U-haul van for a few days. They can run as much $100+ a day, but we've found you can often work out some deals. Don't forget to put money aside to re-fill the gas tank before you return the van, though! Not doing so gives you extra fees. 

 

I'd also spend the time you have until then putting out feelers in Boston. Ask the school you're looking into where their students tend to house, check out the Craigslist for the area, get familiar with the police reports to let you know which areas you'd want to live in, and so on.

 

As far as grad school debt goes, my awesome guy is working his way through his Masters right now and will pop outta this out of debt thanks to careful savings, putting up with some not-the-best-but-liveable apartment for cheaper rent, and working for the school. He also taught me a lot by taking advantage of a risky opportunity to teach abroad for money in China. It could have gone sour, but it didn't and instead he paid for his entire semester upfront with the money he earned. If such opportunities showed up in my life, I know that I would have hemmed and hedged and probably missed out on them due to the risk factors... but after seeing how vibrant and successful his life is due to taking those risks, well... I think there is a lesson there too. 

 

Good luck!! Its so smart to be saving now! I'd make a game of it and save as much as you possibly could every month, really pushing yourself to spend as little as possible. For some people it can turn into a really fun challenge! 

[67alecto]

This is a great time and excuse to declutter your life.  Take a hard look at your possessions and ask yourself:

 

Does it work?

Do I use it?

Would I replace it if it was broken?

 

Anything you answer 'no' to, sort into sell, donate, and toss piles and get rid of them.

 

How much stuff will you need to move?  if you pare down your possessions, it's certainly doable to drive yourself.  If you have a small car, you could even look at renting a bigger one for a few days to make the drive and return, leaving you to drive back in your personal car with any essentials.

 

Start scoping out rent prices in your area.  Generally speaking, parking will be an issue, so you'll need to budget for that or be willing to pay more to live near convenient public transportation.