Moving into a new place can be a very exciting time full of possibility. The last thing you want during this transitional time is unnecessary money worries. To cut down on stress, complete a spending plan for the move beforehand to avoid going into debt to cover your needs.
Here are some potential “moving” spending categories to figure into your calculations:
- Income that will be lost because of time spent on the move
- Extra rent that has to be paid after moving out or before moving in to new place
- Expenses of selling a home
- Expenses for having your previous place cleaned
- Cost of pre-trip vehicle tune-up
- Transportation costs for you (plane tickets, gas, hotels)
- Food while in transit
- Moving company services
- Large-item packing supplies for the move (blankets, foam, etc.)
- Moving insurance
- Storage facility fees
- Smaller-item packing supplies like boxes, tape, markers, bubble wrap or foam peanuts
- Pet transportation costs
- Cost of shipping certain items
- Parking fees
- Temporary housing if you still need to look for a new place
- Costs of buying a new home
- Deposit for the new place if renting
- Furnishings needed for new dwelling
- Increases in utility expenses or fees for service start-up
- Cost of registering your vehicle or getting a new driver’s license in the new location
While certainly a break in your routine, moving doesn’t have to be a time of calamity. With a little effort into preparedness, you can make your new start a happier one.
With a new home comes a new budget. To get a fresh start on your finances, download our free Money Management Planner. This guide offers tips and worksheets for creating a financial plan to meet your needs.