Would it ever be a good idea to take out a loan

[nychelp]

to help you move to a different city? I have a few job opportunities in NYC, and I'd like to move there soon. However, I have limited funds at the moment. By the time I move (around 11/1), I will probably have enough saved to pay first month's rent and a deposit. I'm confident that I will find a job fairly quickly, but it's certainly not a guarantee. I have basically no debt (a little bit left on a credit card that I never use and can most likely pay off before I move). I'm not talking about a huge loan, maybe $3000. And I may not even need to use it, I would just like to have a cushion in case I'm out of a job for a month or two.

Sorry if this isn't a good place to ask this question. I don't know anyone with any experience in this area.

[disneysteve]

I have a few job opportunities in NYC, and I'd like to move there soon.

I'm confident that I will find a job fairly quickly, but it's certainly not a guarantee.

Why not get the job first and then move? If you have "a few job opportunities" then pursue those opportunities and once you sign on for a job, that's the time to make the move. Don't move first and hope to find a job.

As for taking a loan, I'd say no, but that doesn't mean I couldn't see you charging a few basics and necessities to the credit card until the first paycheck arrives. Certainly, you'd need to live as lean and frugally as possible until the money starts flowing.

[TheShopMyCloset Project]

I would get a job first. Then move. NYC is one of those cities where things could go wrong really quickly without a job lined up. If you do move without one-are you comfortable working at a bar/waitress/starbucks to keep things rolling until you get a professional position? I would never recommend taking a loan for a move. Just keep saving, if you can work extra hours do it. Maybe plan on moving in January? That will give you more time to save.

[FireBal989]

Sure you could take it, it's really your choice, but you could wait til you have the job and then get the loan, this will help you have funds when you need them and have insurance that you have the income you want to pay it off much easier :-)

[BuckyBadger]

If you have job opportunities I would recommend getting one of those jobs before moving. NYC is a terribly expensive place in which to be unemployed...

Once you have a job lined up I agree with Steve. Circumspect and prudent use of a credit card for the first few months seems reasonable to me!

[Bella Blues]

NYC's cost of living is so high, higher even than here in Los Angeles so I would also advice to get a job first before moving.

[siggy_freud]

I agree with the "Get the job then move" theme. Especially in a place as expensive as NY. Depending on the industry, some employers will actually help with the cost of relocation. I'd hate to take out a loan only to discover the employer would have paid for my move .

[Ramose]

I think it depends on what kind of job you are trying to get. If you are good at what you do and employers would pay to relocate you, you should wait. If not move before you find a job, it's good to break out of your comfort zone.

Every person who I know that is considered to be 'lucky' finds opportunities when they are doing something new, exciting or risky. Take a chance!