Moving Fund Prep: 5 Ways to Organize Your Finances

Wednesday, August 17, 2016, 6:00 PM | Leave Comment

Moving to a new area is always an exciting idea, but excitement can turn to dread if you don’t plan your transition.

Organizing your finances is critical. You need a moving fund.

The following are some tips for getting that together:

  1. Calculate What You Need

    Step one is figuring out how much money you are going to need for your moving project.

    You may need several hundred dollars or several thousand dollars. Use a relocation calculator to total all the various move-related expenses like fuel costs, lodging, storage, truck rental, utility transfers and the like.

    You can organize your finances properly once you know what you need.

  2. Open a High-Interest Savings Account

    You should open your bank account six months to one year before your move.

    Six months is a short period, but it will work if you need to move quickly.

    Research the local banks and choose one that will give you a nice return on your funds.

  3. Transfer Your Funds Religiously

    Send the money to your bank account immediately upon receiving your paycheck.

    Many employers offer direct deposit slips that will allow you to separate your funds and send them to at least two different bank accounts.

    You don’t even have to touch the moving funds. The employer can send them automatically.

  4. Hire a Reputable Moving Company

    Make sure that you hire a reputable moving company to help you with all the laborious tasks that you will have to endure if you don’t.

    For instance, when moving to Lexington, movers can perform a number of tasks for you like packing your items, loading and unloading the truck, and driving your items to their new home.

    Each moving company has its system of serving its customers. Some companies provide more services than others do.

  5. Perform Pre-Move Cut-Backs

    You should start your cut-backs the moment you start your savings account. Cut back on things that you don’t need. Start with your household items, then to go your car insurance and your recreational activities.

    You can most likely adjust your phone bill, cable bill and car insurance. You can skip one or two of those weekly restaurant dining sessions, too.

Moving is much smoother when you have a plan. It truly is a lengthy process. Take your time and plan it correctly. Moving companies are easy to find, but do make sure that you find a company that has a strong reputation.

Author BIO

Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on twitter and Facebook.

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