5 Money Management Tips When Moving to a New State

According to the Rental Protection Agency, individuals between the ages of 15 and 34 years of age comprise 40.6% of the U.S., and this age group rents so they can maintain their transitory lifestyle. They love to move to new cities and states, but they have the least experience with budgeting and making the most of their money. People of any age can use the tips in this article to improve their money management during and after a move.

1. Maximize Savings by Handling the Move Yourself

The 15% of Americans who move to a different state may find using professional movers easier, but the 85% of Americans who move within the same state can save money by handling the move themselves. Rent a moving truck that features decent gas mileage to move a large number of items and two people for a small investment. These trucks cost between $99 and $150 per day plus gas mileage.

These companies also sell packing boxes, materials, and packing tape. That makes it easy to obtain appropriate materials to package your belongings safely. Some materials may come with your rental and, by using national companies, you can use online coupons and discounts to save money.

2. Practice Healthy Lifting Before the Big Move

Avoid injury by knowing how to lift with your legs. If you don’t, you could easily hurt yourself, and Personal Injury Protection (PIP) coverage doesn’t kick in until your doctor requires you to remain off work for 14 days. That would mean you would be without pay for up to two weeks.

Make moving easier by using smart packing strategies. Pack boxes so they offer a light load while still transporting multiple items in each. For example, wrap one heavy bedroom item in sheets that belong in that room. You keep items organized by room, which makes finding things you need simpler.

3. Organize Your Packing to Save Money

Many expenses people make when they initially move in-state or to another state stem from not being able to find something they packed. Packing by room, organized by area of room, can solve this problem. Wrap breakable items from the kitchen in kitchen towels, potholders, and oven mitts to guard against breakage.

4. Set a Budget for the Move and Stick to It

When you need to create a moving budget, do some research first. Nothing blows a moving budget faster than not knowing what things cost along the way. Instead of choosing an arbitrary amount, find out how much gas, snacks, hotels, and meals cost in each city you’ll need to stop in on the way to your destination. Expect to stay at least two nights in a hotel for a coast-to-coast move.

Using local costs for each city ensures you will have the money for what you need. Gas might cost $3.50 per gallon in your current city, but $4.50 per gallon in the city you’ll reach on your first tank of gas. Use hotel comparison websites to price rooms in multiple cities in advance.

Avoid shopping along the way even if you spot a store location for one of your favorite chains. Any purchase adds to the weight of the vehicle, takes moving money, and increases your gasoline use. A moving trip and a vacation differ, so treat moving to another state like a work trip.

5. Protect Your Personal Finance Goals While Moving

Making proper preparations before moving that set you up for a low-cost move protects your personal finance goals. The tips that can help you better budget range from learning to move safely and efficiently to knowing how to research budget items. Make your next move cost less with the right preparation.