I Left California To Save Money: 5 Mistakes That Cost Me More Money Instead
Let’s face it: California is a desirable place to live. It has mountains, beaches, sunshine and often perfect weather. However, all of that comes at a price — and sometimes that price can be a bit too steep.
Many people are fleeing California for other locations, with dreams of reduced expenses and improved financial stability. These moves are often driven by the promise of a cheaper and better quality of life. However, as some stories reveal, that may not always be so straightforward or easy.
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While the decision to uproot and seek greener pastures somewhere other than California might be a good one, there are some potential pitfalls. We talked to some people who recently left California to get their first-hand experiences with moving to a new state. The anecdotes shared herein serve as a valuable guide for anyone contemplating a similar journey. After all, the road to financial well-being, though paved with good intentions, requires prudent decision-making at every turn.
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Sarah Meads, who works in theater, thought she was making a smart money move when she moved from California to Illinois. She believed that by relocating, she would be able to save money. However, after starting her new job, she realized that her salary was significantly lower than what she used to earn in California.
“I thought that moving would help me save money, but it turned out that my new job paid a lot less than what I was making before,” she said. “I honestly don’t know why I didn’t think of it before; I guess I just thought I’d be saving so much money on cost of living, but when I did the math, I was actually saving less overall.”
While the cost of living was indeed lower in Illinois, the decrease in her salary was so big that it canceled out any possible savings she had hoped for.
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Overspending on Housing Upgrades
Meads also faced another mistake that many people make after moving. She thought she could afford a bigger place to live in the new state. “I moved thinking that I could get a bigger home because the cost of living was lower,” she explained.
This decision turned out to be a costly one. The extra space that she wanted came with a much higher price than she expected. Before she realized it, the cost of her housing in Illinois was just as high as what she was paying back in California.
Returning To California Frequently
Meads also realized that she couldn’t resist the strong urge to visit her friends and family back in California. “Even though I had moved, I had to keep returning to California for weddings, birthdays and my nieces being born,” she said. “It started to add up!”
She added that she had to face the reality that these travel expenses were adding up more than she had initially thought.
Not Accounting for Surprising Cost-of-Living Increases
Emily Williams, a healthcare professional, embarked on her move to Texas with the assumption of a substantially lower cost of living. However, she encountered an unexpected twist.
“While Texas seemed like the perfect destination to curtail expenses, certain areas, including Austin, had experienced a surprising uptick in living costs,” Emily shared. “I hadn’t factored in these escalating prices, and as a result, my budget took a major beating.”
No Emergency Fund for Unforeseen Expenses
Williams also brought to light the fact that moving comes with a lot of unexpected financial challenges. “It’s not just the obvious costs of moving that you need to consider,” she pointed out. “There’s a whole set of unplanned expenses waiting to catch you off guard.”
From sudden car accidents to surprising home repairs, these are expenses that you don’t see coming. Williams admitted that these unexpected costs can happen no matter where you are, but what surprised her the most was that she thought moving away from California would lead to big savings. However, as she soon realized, the reality in 2023 is that living in many places can be expensive, no matter what. It was a lesson learned the hard way.
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This article originally appeared on GOBankingRates.com: I Left California To Save Money: 5 Mistakes That Cost Me More Money Instead
