Life happens, and if you’re moving from one home to another this season, you probably know it will cost money: typically, large one-time costs plus expected and unexpected expenses. Add the time pressure of moving out of your old place and into your new one, and there’s a lot to deal with.
In this blog, we’ll discuss how having a practical moving guide and budget will save you time, reduce stress and help keep your finances on track. Start with Travis Credit Union’s Knowledge Base, which offers free online financial education courses, including a guide on financially preparing for a move.
What Should a Moving Budget Include?
Your budget should include everything you need for your move. Common expenses include hiring a moving company or renting a truck, buying packing supplies, covering any travel expenses, putting down deposits on your new place and paying for utility connections and storage. If you are moving from an apartment into a house, you’ll also need to budget for additional services that might have been included in your apartment’s rent, such electricity, water and sewage.
Your budget should show fixed costs and flexible spending. Fixed costs are those that you can reasonably expect to remain constant, such as truck rental fees. Flexible spending is for things such as packing supplies and paying for help loading and unloading. It’s important to leave room in your budget for the unexpected and have your funds readily accessible. Using a TCU Free Checking Account with TCU's mobile app can make managing your money convenient and safe when on the go.
How Do You Build a Realistic Budget Before Moving Day?
Building a realistic budget involves identifying everything needed in relocating and setting up your new residence. Ideally, your budget is built several months before your move. It starts with getting estimates for all the services and items you’ll need, such as hiring movers, renting a truck or trailer and buying packing supplies. Compare quotes from various movers to get an average, so you can set realistic spending amounts.
For example, you may budget $2,500 but later discover you need to hire more movers. Or you earmark $300 on moving boxes and tape but end up buying twice that amount. If you are moving from an apartment into a house, you can expect more upfront costs.
What Are the Most Common Moving Expenses People Forget To Plan For?
When creating a moving budget, people may forget to include smaller costs that can quickly add up. These include security deposits, cleaning fees, meals while traveling, gas for the rental truck and setting up utilities at the new place. Use TCU’s Knowledge Base Budget Calculator to plan your moving expenses.
How Can You Move on a Budget Without Cutting the Wrong Corners?
We know moving on a tight budget can be difficult. One savings tip is to compare moving companies months before the moving date to find the least expensive and/or most cost-efficient one. Also, start decluttering your old space as soon as possible to save on the time movers spend packing or loading. And avoid last-minute purchases that put you over budget and prioritize necessary, not discretionary, spending.
How Much Does Moving Cost and How Should That Shape Your Plan?
Your moving costs will depend on distance and locations, whether you’re moving locally within the same city or county, across the state or across the country. Costs also depend on how many possessions you have and the level of moving service you hire. NerdWallet estimates that a typical local move costs between $880 and $2,750, while a long-distance move can range from $2,417 to $6,863.
Getting estimates from various moving companies will help you create a more accurate budget. Once you’ve scheduled your mover, you can refine your budget with the actual quote. Be sure to consider the time it’ll take to deliver your items; there may be additional costs if the movers arrive early and no one is at the new location to receive them.
What Checklist Can Help You Stay Organized and Avoid Last-Minute Costs?
Using a moving checklist can help you keep track of deadlines, avoid last-minute expenses and stay organized. It should include hiring and scheduling movers, buying supplies, packing, updating your address with your credit union and post office, transferring utilities, donating items and more. If you’re a renter, you should also consider hiring a cleaner to get your deposit back.
How Travis Credit Union Can Help
Travis Credit Union offers financial solutions that can help you create a budget and manage your money. Our free checking and savings accounts, along with access to more than 30,000 CO-OP Network® ATMs nationwide, make it easy to access your money while on the go. A free checking account lets you easily pay for deposits, movers and utility setups, while a savings account helps you put aside money specifically for moving.
TCU’s mobile app lets you view your transactions wherever you are and at any time of day. With digital banking, you can easily track your cash flow. You can also check to see if you are preapproved for a TCU credit card or loan. Get started today at traviscu.org.
Explore Travis Credit Union’s checking, savings and digital banking tools to make moving easier to manage and build a budget that keeps you more confident and prepared.
Frequently Asked Questions About a Moving Budget
What should be included in a moving budget checklist?
A comprehensive moving budget should include moving service or truck rental, deposits, packing supplies, utility setup, storage and travel costs. It should also account for both fixed expenses and flexible or unexpected costs.
How do I create a realistic moving budget step by step?
Start several months in advance by gathering multiple quotes, estimating average costs and categorizing expenses into fixed and variable. Always include a buffer for unexpected expenses to keep your finances on track.
What are the most overlooked moving expenses?
People often forget to budget for security deposits, cleaning fees, meals, fuel and utility setup charges. These smaller costs can quickly add up if not planned for early.
How much does moving cost locally versus long-distance?
Local moves typically range from $880 to $2,750, while long-distance moves can cost between $2,417 and $6,863, depending on distance and services. The final price depends on the volume, timing and level of service.
What are the best ways to save money when moving?
Compare quotes early, declutter to reduce moving volume and avoid last-minute purchases. Prioritizing essential spending over discretionary items helps keep costs down.
Why is a moving budget important for financial planning?
A moving budget reduces stress by giving you a clear plan for managing large one-time and variable expenses. It helps ensure you have accessible funds and avoid financial surprises during your move.