How to Financially Prepare For a Long-Distance Move

Moving, especially from a long-distance, can be stressful and expensive. However, with some preparation, this task can be handled with ease. Here are some tips to help you prepare for your big move!

Calculate All Of Your New Home Expenses

The first step you’ll want to take is to update your expenses. If this is your first home, you’ll want to consider everything that may have been included in your rent, such as electricity and other utilities. Remember to also take a look at your income, if you are moving for a better job. Most Americans use about 40-percent of their income on housing expenses, so you’ll want to make sure you allocate your paycheck wisely.

Set a Moving Budget

Next, you’ll want to create a budget for moving expenses and travel costs. These can quickly add up, so be sure to save as much as you can during this time. Try to limit any tempting splurges and do your research before choosing a moving company. Next, calculate how far you’ll be traveling and estimate how much you’ll need for gas and hotel expenses. If you’re unsure of how much you’ll be spending,  try out a moving calculator to estimate how much your trip will cost and help get you started!

Take Control of Your Debt

Lastly, you’ll want to make sure you have any pre-existing financial problems under control and allocated into your budget. Debt can rack up without the proper planning and consistent payments, so make sure you are sticking to a plan of attack to ensure all debt will be paid off. Many say the snowball method, paying off your smallest debts first and then moving on to your highest debts, is the most effective way to become debt-free. If credit card debt and a low credit score makes finding a banking option difficult, consider signing up for a second-chance banking solution. This will allow you to start your next phase of life without worrying about accumulating more debt or struggling to get by.

Moving long-distance isn’t easy, but the right tools and preparation will make this transition smoother and easier. Now it’s time to get to planning!