Moving to a new city is a big change that can feel both exciting and a little a little scary. Regardless of emotions, most Americans move about 11 times during their lifetime. Whether you’re moving for a job or you’re looking for a fresh start, moving is an opportunity for an exciting change. An important question to ask yourself before a move to a new city is: Can I afford it?
Top 5 Tips for Moving on a Budget
There’s a lot of planning and potential expense that goes into moving, like packing supplies, movers, and moving trucks. Not to mention the post-moving expenses like rent, utilities, and groceries. That all to say: moving to a new city is a financial decision above all.
These tips can help you plan for how to save money while moving.
1. Calculate Moving Costs Upfront
2. Prepare Financially
3. Save Money While Moving
4. Find Cheapest Ways to Move
5. Budgeting After You Move
1. Calculate Moving Costs Upfront
Your first step is research. If you know which city or neighborhood you’re relocating to, you can narrow down your research. Check out an online moving calculator, like one on Bankrate or payscale. There you can view the average cost of moving to a new city based on your income, plus the cost of items in that city—like a loaf of bread or gallon of gas.
How do you move on a tight budget?
Sites like Apartments.com, Zumper, and RentCafe are can help you understand costs in your new city. Get updated information on apartment costs, the average price of homes, and details like whether a neighborhood is bikeable or walkable. Don’t forget to check out the insights on FAQs about that town.
2. Prepare Financially
Asking yourself how to move out as cheaply as possible?
Do the best you can to cut costs prior to your move and pocket the extra cash. Consider the easiest, fastest ways to cut your current budget, for example reducing memberships to unused streaming apps and online subscriptions.
Not going to the gym but paying every month? Cancel the membership and put that into your stash. Paying for 3 listening apps? Cut back to one.
Any extra funding you can save for your move will help with your costs.
How much money should you save before moving?
The experts at Rocket Money suggest “you should save on average between $5,000 and $12,000 before moving out, depending on where you are moving and the cost of living.” This figure covers the basic costs of moving, but also adds a cushion in case unexpected expenses come up during the moving process.
Pro Tip: If you’re moving for a job, speak with your future employer about covering some moving costs. There are companies out there that cover expenses! If you’re moving without any financial help read on for more ways to save.
3. Save Money While Moving
Declutter and Sell Unwanted Items
What’s the cheapest method of moving? Moving less things! The lighter the load, the cheaper the move—since most movers charge by the distance and weight of items. Downsizing can also be helpful for your moving fund.
If you’re downsizing on your own, follow this method:
Toss: Anything broken, duplicate, or out of use, like your old laptops or collection of DVDs you never watch.
Donate: Think clothing you’ve stopped wearing, additional silverware, cups, plates, high school, and college textbooks you’ll never use again.
Keep: These are items you still have plans for and can get good use out of. They can also be expensive items that you don’t want to buy again like a good couch or dresser.
Have a Yard Sale
Want to make money before your move? A yard sale is a great way to add extra padding to your moving budget. Instead of curbing your unwanted items for free, sell them for cash toward your moving fund. If you don’t have a yard to display your things, try selling larger items on Facebook Marketplace or Craigslist.
4. Finding the Cheapest Ways to Move
How can I move without spending a lot of money?
If you’re looking for how to move cheaply and want to avoid extra costs check out this “Say No” list:
1: Say No to Peak Moving Times: Time your move—plan your move outside of peak moving season (mid-May through mid- September) to assure you’re not paying top dollar for your move. Another hack is to aim to move mid-month or mid-week. Since more people are choosing to move on the weekend and the end of the month, moving at a less popular time can save you money because there is less of a demand.
2: Say No to Moving Trucks: If you can swing it, using your own vehicle to move will save you tons of money on a truck rental. You can also check with friends and family to see if they would be willing to let you borrow a larger vehicle. If you cannot avoid renting, make sure you’re comparing quotes from multiple rental companies.
3: Say No to Professional Movers: Unfortunately, movers add to your bill. If you’re moving on a budget you may need to roll up your sleeves and do it yourself. If you have family or friends willing to help you pack or move, offering free food or future favors could encourage them to help.
4: Say No to Extra Stuff: Make sure you focus on decluttering any item that you don’t need before you pack up. It’s important to remember that the more you have to move, the more you’ll need to your moving costs can be piling up.
5: Say No to New Moving Supplies: You don’t need to purchase brand new supplies. Use existing empty moving tubs from decluttering, discarded boxes from big box stores, and pallets from local grocery stores for your move. Old ripped up clothes, newspapers, and magazines can also be used as packing supplies.
5. Budgeting After You Move
Now that you’re in a new city, you may be tempted to try brand new restaurants, shops, and local entertainment. And who says you shouldn’t treat yourself after a big move? But make sure you have a set budget in place while you adjust to your new environment. For instance, the 50/30/20 method may work for you. With this method, you can use up to 30% of your income for fun activities and non-essential spending and still pay bills and start a new nest egg.
Don’t forget—moving to a new city can be fun! With a little planning (and a lot of decluttering), your move can be cheaper than you think. Check out some additional tips for moving with a pet and ways to ensure you get your security deposit back so you can add to your moving budget. And if you need storage in your new city, consider CubeSmart.
