Should I take a personal loan to move out of my parents house?
So here is my situation... my parents do not agree with my relationship with my boyfriend because he isn’t christian like me and my family. They are trying to convince me to break up which I wont do. If I don’t ultimately do what they want, they will force me to move out. Now I don’t really have anywhere to go or the funds to move out. I’ve researched all possibilities but it would be really hard without having roommates (which I don’t have anyone in mind right now). It’s also taking an emotional toll on me and so I want to move out. I work once a week (sometimes more if I pick up extra shifts), and I’m not making much more than minimum wage at the moment. I’ve also taken to do doordash for extra cash but it’s just not enough to move out. I know in the summer time, I will work a ton more and hopefully get a good amount of savings but in the fall, I’ll once again have to cut down to working once a week. I know I wouldn’t be able to keep up with rent unless I took out a loan but since I’ll be graduated and working as an RN next year, I’m thinking it might be possible for me to do without having to go much into debt :/. Also if I were to take out a loan, how should I go about doing it as this is not something I am familiar with.
Over the summer time, I will be able to work full time which would allow me to be somewhat comfortable, the loan would be for me to get by in my last semester of college (September-December) before I start my career (which makes good money straight out of school). I’m not really worried about not being able to pay off the loan. Also I don’t plan on taking a loan before I garner enough savings over the summer.
I feel like I didn’t explain my financial situation too well. My income rn isn’t too good & it will go back to this way over fall. But I wasn’t planning on taking a loan or moving out before summertime. I’ll be working full time + doing other side jobs in summer. I’m currently looking for a better job as well. I already have a couple possible higher paying jobs that I can start pretty soon d/t a need for healthcare workers during the pandemic. So my financial situation is likely to get better.
I get it, I get it. I did my own research last night since no one really explained it well to me (thanks yahoo answers). And I understand it, thanks to the one person that suggested finding roommates. I’ll find other options that do that work. I just didn’t research it like I usually do cause it was late at night so I thought I would just ask the question.
- SlumlordLv 72 months agoFavorite Answer
I highly doubt you have the income and credit to get any sort of personal loan. You may have to stick it out with your parents until you become a RN and then you'll probably be fine to at least rent your own place. I suggest you keep going as you are, get what work you can, save up as much as you can, but plan on moving out maybe 6 months after you have your RN and can prove strong consistent income, and also probably have the savings that you can swing it.
- Raymond L.Lv 52 months ago
No, horrible idea, living on your own costs lots of money,
In Christianity you are not supposed to be equally yoked with a non believer, There are several bible verses about that, I cannot recall what they are at this time.
- JudyLv 72 months ago
To get a loan you have to have good enough credit and income that's sufficient to pay it back. personal loan has stricter requirements than a secured loan. No way you'd qualify.
- Beverly SLv 72 months ago
Most rentals require you to earn 3 times the rent per month.. which it sounds like you won't. So you may not be approved. A loan to move wouldn't help if you don't earn enough to qualify.
- How do you think about the answers? You can sign in to vote the answer.
- KISS MY GRITSLv 62 months ago
- MaxiLv 72 months ago
Your idea is a non starter, you don't take out a loan when you are earning so little you will not get one and you certsinly don't loan money to pay rent...even if you could find a landlord willing to rent to you, you would get more and more in debt and would be just putting off homelessness by a few months......... you go and find a full time job, earn., save and only when you have the eqivalent of 6 months rent saved is it feasible to leave home
- SlickterpLv 72 months ago
No one will give you a loan for rent. If you cannot afford rent, how will you afford rent plus loan payments?
You don't "have to cut down" to working once a week, you choose to do that because it's easier.
- Anonymous2 months ago
Your problem is you lack brains. Nobody is going to lend you money without a very good full time job and good credit.
80% chance you will look back & realize your current boyfriend is a POS and you should have listened to your parents.
- TavyLv 72 months ago
You are not eligible for a loan as you don't have the income to pay it back.
- sunshine_melLv 72 months ago
No; don't take a loan. If you are barely getting by already, how are you going to repay it?
Also; if your finances are as described, no reputable lender would give you a loan anyway.