About 14% of the entire U.S. population moves every year at least one time!
There are many benefits to setting a moving budget, but the most important one is that you won’t spend as much money on the move.
Are you planning a move this year? If so, it’s time to start thinking about your budget.
Keep reading to learn how to set a moving budget.
Benefits of Setting a Moving Budget
It’s not a big secret that moving can be very expensive, so setting a budget is a great way to take back control and be certain that you can afford the move.
When you set a budget, you will be reassured that the move is something you can afford. It will help you figure out if you have enough money to move yet or if it may not be the right time for you to do it.
Another benefit of setting a budget is that you can monitor how much you spend throughout the process. If you notice you’re spending more in one area, you can reassess to make sure you don’t go over the budget with future moving expenses.
Most Common Moving Expenses
When you’re moving to a new place, you will generally have the same types of expenses regardless of where you’re going. The amount that you have to pay, however, will be different based on a variety of factors, including location, the size of the home, and more.
Some of the more common things that you’ll expect to pay for during a move include:
- Transportation of your items and yourself
- Rental deposits
- Packing supplies (boxes, labels, etc.)
- Professional cleaning for the old residence
- New furniture upon arrival
- Repairs or maintenance
- Professional moving services
- Insurance fees for renting, homeowning, or moving
It’s best to create a list of all of the things that you’ll be spending money on before you actually buy anything as you begin to create your budget.
How to Set a Moving Budget
The first thing to do is consider how much stuff you actually have to move. Do some research to see if any of the things that you plan to take may cost more, such as bulky items, specialty items, or expensive artwork.
Next, you should determine how much your movers will cost. Is transportation provided? Are there any extra fees?
After this, think about any type of rentals you need for equipment. You might find that you need to put some of your things in storage for the time being.
Decide when you need to move next. The time of year you move may impact prices, but do what is best for you and your family. When you’re thinking about this, also consider the rest of your family and whether school, work, or other obligations may become a factor.
Create a backup fund or contingency fund for extra expenses. Let’s face it—sometimes things come up in a move that you may not expect!
Lastly, think about your daily costs and additional costs for your family. What do you usually spend money on and how will that impact your move on a more personal level?
Are You Ready to Plan Your Move?
Now that you know how to get started with setting a moving budget, you may feel prepared to start planning. Getting a jump on it now is a good idea so that you have less to stress about later!
Are you thinking about hiring a professional moving company?
Not only do we help you make your moving day easier, but we help you move in faster and more efficiently. Contact us today to find out more.