Even though I have agreed

Even though I have agreed to take a temporary assignment for my employer which will significantly increase my living expenses during the period, I have a couple ideas on how I can minimize the damage:

1.) My employer will cover the costs of moving myself and my stuff up for my assignment. It makes sense to me to try and convince them that they can save money by assisting with furniture rental instead of moving all my stuff. It will save me the hassle of moving and could help reduce my monthly expenses if structured correctly.

2.) I think the best opportunities to reduce my housing costs would be to find someone with a house that is looking for a roommate. Apartment complexes typically have fixed rent prices, leases, and other requirements. People who rent portions of their houses could be more flexible on the price, lease, or terms.

3.) I am going to try and rent a room or at least some portion of my house out while I am gone. While I probably won't cover the mortgage payments, it will help offset some of the monthly expenses for my house.

4.) Temporary Assignment Tax Deductions. I have been reading up on this tax topic for months and I am doing my best to ensure I will have my duplicate living expenses (from the temporary assignment) qualify as a tax deduction. I hope to dive more into this area later.

Related in Temporary Assignment:

Wrapped China Assignment, Round 2 (Jan 01, 2014) Hanoi, Vietnam We just wrapped up our temporary assignment in China and arrived back in the US before the end of the year. Its amazing how time flies, it seems like just a few days ago that we began...

Packing Tips for Extended Family Travel (Oct 14, 2013) My young family is on the move - we are currently living in China on a 6 month work assignment. With the exorbitant cost to ship additional stuff to China we were incented to only bring what we could fit...

Survival Guide to Traveling with Young Kids (Jul 28, 2013) We didn't have much experience traveling with our young kids prior to our current assignment in China. We did lots of reading in preparation, but we were unprepared for both how exhausting and rewarding it has been for us. Here...

Comments (3)

DATE: 2:48 AM
Have been busy, I feel that having a child is a blessing, yes I am married and I have had my first child to inherit my millions. I just feel that when you have the first child your wife tends to get needy and want you to spend all the time with them which I have told them "Time is Money", if I spend too much time with you I can't make more money.Yes, I am obssessive about money, because I am not the richest man in the World and that pisses me off. Even if you are rich you may never beat other people that are more successful than you, I admit that, and I admire them for it (the rich and successful).So for your minimization of expenses it is a good idea but you should look more towards increasing your income.Anonymous Millionaire.P/S I will only write in when I am free and that will get less and less. Learn from what I have stated.

DATE: 12:32 PM
Hi, I forgot where you were being assigned to, but try craigslist.org to find housing. It's a good site for each community it represents.

When you say temporary, how temporary is it? Certainly your employer would have some sort of guidelines on what is covered.

Post a comment

(Comment moderation enabled.)

About 2millionblog.com

A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,938,393


New Personal Finance Articles

PF Blogs