Create a Realistic Moving Budget
Avoid financial bumps by bracing for unexpected costs
By Liz Gray, FrontDoor.com |
Published: 6/13/2008
Step 4: Find out what it will cost for your family and pets to make the trip.
You've figured out how much it will cost to get your belongings to their new locale, and now it's time to do the same for yourself. Consider these costs:
- Transportation. Investigate the costs of different modes of transportation. If you'll be flying with Fido, add extra costs for a pet-friendly flight and a vet checkup before boarding. If you're traveling by car, don't forget to add costs for a pre- or post-trip tuneup.
- Lodging. Will you need to stop along the way? Factor in costs for a hotel, if necessary. Also, if your new home will not be ready when you arrive, add costs for temporary housing here.
- Meals. Estimate how much you'll spend per person, per meal. If possible, you can pack a cooler with food and drinks to cut costs.
- Child and pet care. If you have small children or pets, it's less stressful for everyone if you arrange for child care on the day of the move. Factor in these costs if necessary.
- Miscellaneous expenses. Don't forget to add in tolls for roadways, entertainment on the road and other expenses.
Step 5: Determine packing and storage expenses.
Once all the moving arrangements are set, it's time to start packing. But before you do, figure out how much you'll spend on:
- Moving boxes. Figure out how many boxes you'll need, and how much they'll cost. You can usually purchase box sets based on the size of your home from your mover or an independent website. Looking for a low-cost option? You can buy recycled boxes or scavenge boxes from local businesses.
- Furniture and mattress pads. Full-service moving companies often provide these for customers free of charge, and you can rent these protectors from a truck rental company.
- Packing materials. Tape, markers and packing materials are a must for your move, so make sure you add these fees to your total.
- Storage fees. Need a space to store your stuff? Get estimates on storage facilities and mobile storage units, then choose the one with the best location, security and price.
Step 6: Add up your living expenses from the time you arrive until you receive your first paycheck.
There's likely to be a period of up to a month between your move and your first paycheck. Unless you plan to live on ramen, it's important to save money for cost like:
- Food;
- Rent or mortgage payments;
- Transportation and/or fuel;
- Vehicle registration or license transfer;
- Clothing or uniforms.
Step 7: Total your worksheet, and add in financial padding.
Even after you've added up all the moving costs above, there are bound to be incidentals you weren't counting on. Take your total and multiply it by 5 percent to account for unexpected costs. This is the total you can count on spending for your relocation.
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