There are many items to remember as you create a budget for your move. Using this five-step guide, consider possible line items for your moving budget — and help ensure no important details fall through the cracks!
Find funds for a move
No matter what budget template you use, start by calculating how much money you can spend on your move. Sure, you’ve got your monthly salary to consider, but you may have other sources of cash available, as well.
You might figure in funds from endeavors like these:
• Profits from the sale of a home
• Savings account funds
• Relocation allowance from your employer
• Money made on a garage sale
• The sale of spare possessions, such as electronics or furniture, through online classifieds
If you’re looking to pare down before a move, you could make money to add to your moving budget by selling items you were going to get rid of anyway. (And keep in mind that the fewer possessions you take, the cheaper the move!)
Total anticipated costs of leaving and moving
Once you know how much you can afford to spend on a move, focus on the expenses related specifically to moving out and moving in, considering:
• Cleaning and repairs
• Final utility bills
• Utility deposits and turn-on (application) fees for your new apartment
• Pet and security deposits
• Parking or amenity fees
• The cost of transportation (flights or gas), meals and lodging on the way to your new apartment
Many costs like these simply cannot be avoided when you move. Include them in your moving budget so you get a clear picture of what your move will actually cost.
Decide whether to go pro or DIY
With a good idea of how big your budget is and what costs you absolutely cannot avoid, it’s time to decide if you’ll have enough cash budgeted either to hire professional movers or, if you’d prefer, to rent a moving truck and do the work yourself.
Calculate storage and packing costs
If you’re hiring professional movers, the cost of packing supplies may be included in your move. If not, you’ll need to consider supplies as another expense in your moving budget. Don’t forget to think about dollies, furniture pads, plastic wrap and other essential packing materials like bubble wrap, newspaper, tape and markers.
Trying to move on the cheap? Consider trimming some of these costs by using recycled moving boxes. You may be able to pick up free boxes from a grocery store, for instance. Sites like UsedMovingBoxes.com also offer lower-cost alternatives to buying new supplies, as well.
If you’ll need to store your belongings for a few days or months in between moving from an old to a new apartment, don’t forget to calculate the expense of transporting your belongings to a facility and paying a deposit plus monthly storage unit rental fees.
Account for your first month of living expenses at your new place
One last step in planning a thorough moving budget involves thinking ahead about your first month of expenses at your new apartment. If you’re using funds from your regular salary to pay for the move, it may be a few weeks before you get paid again. You want to be sure you’re covered during that time.
Consider the costs of rent, transportation, cleaning supplies and even food — all the basics you need to survive. Taking a moment to think ahead can help you avoid a cash flow emergency later.
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