Remember the last time you were folding your clothes and found a dollar bill or five dollar bill in our pockets? Remember how excited you were? Can you remember the last time you LOST a dollar or five dollar bill? You may have been upset about it but it wasn’t a lot of money so you get over it pretty quickly.
Now, have you ever lost $1000 or maybe $2000? Most of us would be quite upset about that and it would be hard to forget that moment when you realized you lost $2550
Why such an exact number? Because that’s what happened to me. Allow me to share my experience.
I signed a lease agreement for a one bedroom apartment. I wasn’t happy with the apartment but my current lease was ending and I needed to move to a new home. I was really hoping to find a two bedroom apartment but again, I settled for the one bedroom because I needed a place to go. Here are some minor details to the lease…
They wanted a $1000 deposit but they agreed to a $800 deposit that I’d receive back after the lease ended. They wanted someone to move in at the 1st of the month. I wouldn't be ready until the end of the month so we settled for the 15th. I still would need to pay the full rent for the month but the following month would be prorated. Lease signed, I’d get keys on the 15th.
While my apartment search was over, from time to time I continued to do some searching. Again, I wasn’t thrilled with this one bedroom apartment. Wouldn’t you know it, I found a two bedroom apartment for less rent than the one I signed the lease on.
Since the lease did not go into effect until the 15th of the month I asked the landlord if there was any way out of the lease. They very quickly said, “NO”. I reminded the landlord that though I signed a lease, paid a deposit, and gave a full month’s rent, I didn’t have possession of keys. Surely they could understand and allow me out of the lease. Their response was again, “no, if you want out of the lease, you need to give two months rent.”
I gave it myself a couple hours to think. Next, I emailed the property manager to ask, if they keep my security deposit as well as the first month rent that I already provided, would that be enough to get me out of the lease. A total of $2550. The response came back faster than the comic superhero The Flash, “YES”!
My decision would have been different if I needed the $2550. Of course I could use it, anyone could use it but I didn’t NEED. When they accepted my offer and terminated the lease, I felt an incredible sense of relief. So often our past financial decisions have dictated our next move. If I needed the money, chances are I would have stayed in the lease and moved into the one bedroom apartment. It had less to do with the one bedroom and more to do with the peace of mind.
Yes, I would prefer to have the $2550 back but it did not affect me moving forward. When you make financial arrangements and prepare your budget accordingly, you are able to make decisions and take hits that don’t have ripple effects further down the road.
