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MOVING OUT with $2,000 and no credit, or am I DELUSIONAL

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Caloochey

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I'm 20. Work full time at a restaurant currently on the east coast and itching to leave my parents behind. I have $2,000 in the bank and zero credit! I know I could stay at home and work up my credit then move out, but I have this fire to leave right now. Is it possible for me to leave home for good and make it with only a couple thousand and no credit???
 
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ZF Lee

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Where are you going to stay?
What are you going to eat?
How are you going to keep healthy?
How are you going to get money to pay bills, let alone run a biz?
What emotional or human support can you get to keep you going?
How much costs can you shoulder?

Crap...too many damn questions...
 

Lex DeVille

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I'm 20. Work full time at a restaurant currently on the east coast and itching to leave my parents behind. I have $2,000 in the bank and zero credit! I know I could stay at home and work up my credit then move out, but I have this fire to leave right now. Is it possible for me to leave home for good and make it with only a couple thousand and no credit???

Have you read The Millionaire Fastlane or Unscripted ?

Is it possible to leave home for good? Sure, join the military, go to jail, live on the streets... lots of ways to not return home. 'Make it' depends on your definition of the word. In my definition, based on this post, you won't make it. So my suggestion would be to stay where you are, learn to play the hand you've got, and figure out how to improve your situation, not make it worse.

Emotion-driven impulse-based decision-making is not a good way to 'make it' as an entrepreneur.
 

JAJT

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Is it possible for me to leave home for good and make it with only a couple thousand and no credit???

This isn't a tremendously difficult question to answer for yourself.

Calculate all possible expenses (bills, food, fun, emergency, etc...) and call it "Y"
Calculate all possible sources of income (freelancing, day job, whatever) and call it "X"

If X - Y = a positive number, the answer is yes.
If not, it's no.

Now, if you want to start a business, and grow it, call that cost "Z" and then add it to "Y".

If it's a positive number, great.

If not - solve for the difference. Second job. Third job. Stay at home. Get a roommate. Or 4 of them. Freelance. Etc...
 
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MJ DeMarco

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I moved across the country with $900 and no job. I did OK.

Is it possible for me to leave home for good and make it with only a couple thousand and no credit???

We have no clue. Are you open to getting a job or too good for one? Are you disciplined?
 

MarekvBeek

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It's the BEST decision. (IMO)

Answer these three questions for yourself (I had them from Tim Ferriss and used them myself):
  1. What is the worst case scenario?
  2. What is the best case scenario?
  3. What will likely happen?
Know what you want to do when you move out, but be flexible enough to change track.

Something magical happens when we do stuff like this. Suddenly we begin to see new opportunities that we couldn't see before.

It's an amazing thing!
 

Lex DeVille

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It's the BEST decision. (IMO)

Answer these three questions for yourself (I had them from Tim Ferriss and used them myself):
  1. What is the worst case scenario?
  2. What is the best case scenario?
  3. What will likely happen?
Know what you want to do when you move out, but be flexible enough to change track.

Something magical happens when we do stuff like this. Suddenly we begin to see new opportunities that we couldn't see before.

It's an amazing thing!

The idea that moving out without a plan, resourcefulness, money, or even a clue makes magic things happen... <---- that is delusional.
 
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MarekvBeek

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The idea that moving out without a plan, resourcefulness, money, or even a clue makes magic things happen... <---- that is delusional.

Don't know if you're referring to my idea as "delusional"? Let me talk to you from experience.

I've been to Panamá with only $600 to my name. Had no f*ckin clue what I would do there and how I would get money to live. All I knew was that I would read a lot of books, listen podcasts and figure out along the way about how to get money to live.

When I was there, I saw many opportunities to help other people, but I didn't took them. Why? Because I was scared of falling in the rat race and being slowed down in my momentum of getting my a$$ out there.

Instead, I came back home, full of fire to start my business. Still had no clue how to do it, or what to do. But I believed that I would figure it out along the way.

And Panamá did something great to that...

It was there where I took the time to listen to podcasts and listen to one of MJ's interviews, that led to this whole concept of entrepreneurship in my life. Which led me to hustling my way up and to where I am now.

It was because I was there, that I had contact again with an old friend, who inspired me to come back and work my way up from the bottom. (He did the same)

If you look at my experience, it looks like a delusional stupid decision at first. But if you look closer, it is one of the best decisions I've ever made.

Yeah, you need a plan, but most people get stucked in "planning mode".

That is why I say: If you have the fire, GO!
 

Azure

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I did it with little more than 1/10th of that. I had a bit more resourcefulness than to ask strangers on the internet whether I could do it or not though. I also did a lot of less than legal things to carry me through the initial period. A great learning experience, and something I personally do not regret - but those sorts of situations are not for everyone.

You make no mention of any sort of plan or skills you have that will make this venture a success or not. I suggest you focus on creating a few goals that move the needle towards independant lifestyle, craft your behavior and mindset accordingly and execute.
 

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See if someone you know has a couch you can crash on while finding a place to stay.
Start your life.
 

sparechange

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The ideal situation for you is staying home and building your networth. Now we don’t know about your relationship with family so could that be a part of the move? At the same time grabbing your balls and making the choice to go independent is a motivating power to succeed and removes comfort, but, if u decide to stay at home you have a greater capability to make “risky investments” and not worry about losing everything as you will always have a free meal and roof over your head. But you need to cut the cord eventually... you can always move out for a few months and see how it goes, with intention to comeback if things don’t work out, probably a good idea to explain to parents you want to try out living alone as part of growing up, they’ll most likely welcome you back worst case scenario.
 
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NewManRising

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I would save up a little more money. Like, a few months worth of expenses. Plan to have some income set up wherever you go. Also, have transportation or be fine with public transportation.
 

biophase

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I would save up a little more money. Like, a few months worth of expenses. Plan to have some income set up wherever you go. Also, have transportation or be fine with public transportation.

I'd do it. $2000 should last you at least one month. You should be able to find a job and get your first paycheck within that time frame.
 

ThirtyOne

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This isn't a tremendously difficult question to answer for yourself.

Calculate all possible expenses (bills, food, fun, emergency, etc...) and call it "Y"
Calculate all possible sources of income (freelancing, day job, whatever) and call it "X"

If X - Y = a positive number, the answer is yes.
If not, it's no.

While others have had good insights to share here, you WILL HAVE TO DO what @JAJT says at some point, and the best time to do that is right now.

To repeat him, what is moving out going to entail numbers wise? Write it down. What numbers do you have coming in? Write it down. Compare. Move on.

Put your question to rest by answering it.
 
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Coalission

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You're 20, dude. Just f*cking do it and tell us how it goes.

There are people three times your age that have never felt a "fire" to do anything in life, so if you have that feeling, consider yourself lucky and start packing your shit before you lose it. Be prepared for the worst case scenario, and if you can live with it happening and think you can navigate your way out of it, then there's nothing to think about.
 

mws87

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You're 20, dude. Just f*cking do it and tell us how it goes.

Agreed!

I'm 20. Work full time at a restaurant currently on the east coast and itching to leave my parents behind. I have $2,000 in the bank and zero credit! I know I could stay at home and work up my credit then move out, but I have this fire to leave right now. Is it possible for me to leave home for good and make it with only a couple thousand and no credit???

Worst case scenario for a 20 y/o you (hopefully) learn a lesson or two and you're still young enough to go back home with your tail between your legs and not much consequence. Then again, we don't know much about your personal situation other than you're twenty and have no credit. And, ultimately, we can't really make your choices for you.
 

meridian_blue

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This is not a useful question. Is it possible for someone to move out, with $2000 and no credit? Yes. Will you be able to do that? We have no clue. It all depends on how much drive you have, and how much planning you've done. So, instead of asking a question to strangers on the internet, why don't you figure out where you want to live and how much it'll cost, and look for job opportunities there right now. Then go for it.
 
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mike24601

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At 20 I had already been out of the nest for 2 years. Did it help me get ahead in life? Absolutely! I made a crap ton of mistakes over and over again, put up with a lot of stress and learned a great deal of self discipline.

Is it fundamental to success in the Fastlane? I'm not so sure. Dave Ramsey (sidewalk guru) will say every young man needs to GTFO out his parent's house as soon as possible, even if it delays their financial goals by years or even decades....because "it'll make you a man." I say that's just bullshit self-flagellation. I do not believe you have to make potentially fatal mistakes to learn valuable lessons if you're smart enough to avoid them in the first place.

If you have a warm place to stay and your family is cool with it, just stay there and spend a year reading as many books as you can (start with TMF or Unscripted if you haven't already), hoard all your money, build some credit, start fleshing out business ideas, maybe pick up a second job and a few hustles. Then re-evaluate your situation once more and move out if you really want to.
 

Envision

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Id save more, but thats just me. if you have the impulse to go then go.

Just realize you'll be living paycheck to paycheck for awhile trying to figure it out. But there's nothing wrong with that either when you're 20.

There's alot of people out there that did it with far less than 2k
 

Anda el Diablo

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I left to Miami with $1,600 (plus a small amount of unemployment I was collecting at the time). I made it work. I found a crappy job at first and then on my days off I would walk through Miami Beach with a suit on in 90 degree weather with 90 percent humidity to find a better job. If you are hungry enough for it you can do it. Within 2 month of moving to Miami I found a job making $800 a week, which isn't bad for a 24 year old.
 
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