Millennials are proving to be a generation of people burdened by debt with most of them owing an average of $37,172. A more distressing fact is that the median income for millennials is $32,481. With such figures at play, its little wonder that most people are leading a debt-ridden existence.
While the situation looks bleak, you can push back, improve your financial situation, and go on to lead a happy and successful life. To achieve this goal, you will need the help of one of the reliable long distance storage and moving companies in your region.
Reduce your cost of living
If your keen to reduce your debt burden, it’s imperative that you trim down your cost of living. That could range from trimming your shopping to packing up your possession, moving to a cheaper city. Lucky for your you’re spoilt for choice when it comes to affordable places to live in the US.
While there are numerous states when you can live for cheap, none of them holds a candle to Texas, which is home to seven most affordable cities in the United States. Some of the most affordable cities to live in America includes Morristown in Tennessee, Lynchburg, Virginia, Texarkana, Texas – Arkansas, and Fayetteville, Arkansas.
The cost of living in all these cities is northwards of 10% lower than the national average. In some of these cities, housing costs are almost a third of the national average, which also lowers the cost of renting an apartment. Similarly, the cost of transportation, utilities, medical care and grocery items is cheaper too.
Join the gig economy
One of the most significant setbacks when moving to a smaller town is that the scarcity of jobs and lower salary scales. It’s imperative that you do your due diligence before picking a city. You don’t want to move to one where the salaries are too low, or job opportunities are limited.
However, if the city has reliable and affordable internet, you don’t have to split hairs about the pay cut. You can shore up your income by joining the gig economy. Most companies are tending towards remote employees since the move allows them to reduce their overhead costs.
You can tap into an existing skill set or take the time to learn new ones. Many online universities offer free courses where you enroll and improve your knowledge and skills. Just be sure to pick an in-demand skill as it increases your chances of landing long-term lucrative gigs. Naturally, you need to hone your skills to the highest levels to grow your income.
When life throws you a curveball that leaves you drowning under a pile of debt, you don’t have to resign to this fate. Moving to a city or a town with a lower cost of living can help you pick up your pieces and work towards being debt free.
Retaining the services of a reliable cross-country mover can make the relocation process painless. Once you’ve settled in the new location, you can strategize how to shore up your income so you can pay off the debts to leave you free and clear.