Rating 4.6

How to Make and Stick to a Budget for Your Move

If nothing else, moving costs money. In addition to the large amount of cash you may have just spent on the new home, there are many expenses associated with the actual relocation. A good way to save money is to create a budget and stick to it as closely as possible. From the cost of Knoxville movers to factoring in intangibles, here are some tips for valuing your move.

Make a List

Start by making a list of all the potential expenses you already know about. Some common items on that list might include:

  • Hiring professional movers
  • Boxes, tape and packing materials
  • Renting a truck
  • Shipping items
  • Airline tickets or other transport
  • Storage space

If you start knocking out these big items first, you can get a good ballpark idea of how much the move will cost you.

Factor in the Smaller Details

For as many costs as you have already enumerated, there are just as many that you may not have considered. For example, if you are hiring a moving company, you might want to consider purchasing insurance for your belongings. If you are moving yourself, you may find that you need to rent additional equipment, such as furniture covers, dollies or a loading ramp.

Many people make the mistake of forgetting to factor in the cost of gas and mileage that you incur while driving between your old and new homes. This is particularly important if you are renting a truck for your move and the company charges by the mile.

During the Move

There are a number of expenses you could face while in the moving process. For example, if you are relocating to another part of the country, you may have to pay for lodging and food. You can save money by packing lunches or dinner and eating at a rest stop. If you will have to stay in a hotel, consider searching online for deals at places along your route. Also factor in child care or pet sitting during the move itself. Getting boxes unloaded and unpacked is often much easier without having to worry about little ones running around.

Add a Contingency

It is a standard practice to leave a little room in your budget for miscellaneous costs. You may get a flat tire on the way or find that all the food you packed for dinner accidentally went on the moving truck instead of in your car. A good rule of thumb is to add up all your expenses and then tack on an extra 5 percent.

Stick To It

The best way to stick to your budget is to keep track of it. There are applications you can download to a smartphone so as you incur an expense, you can easily input it onto a spreadsheet. This will give you an idea on things such as how much you can spend at dinner while on the road.

Moving on a budget is easy to do as long as you know what you are working with in terms of necessary expenses. Get good estimates for Knoxville movers or a rental truck and itemize the rest of your relocation on a spreadsheet. Hopefully, by the time you unpack the last box, you will have a little money leftover for a celebratory “welcome home” dinner.