If you're headed out, here are some things to consider to keep your finances in good shape through your transition:
Moving entails so much more than the cost of selling and buying new apartment contracts. Here are some important things to keep track of amid all the packing:
- How much is it, really? Consider any prorated expenses for rent, security deposits, cancellation fees, or other rent-related expenses for the month. You may be paying more for rent this month than you bargained for.
- Read the fine print. Make sure you understand all the terms of the contracts you sign. (If you don't understand them, don't sign until you've clarified everything with the landlord/lady.)
- Find the right time. Don't underestimate the impact of the date on which you're moving. Usually you'll get a better deal on rent and not have to pay double rent (in other words, pay rent for your old and new apartments in the same month) if you can avoid moving until the very end of the month.
- Budget wisely. Keep track of the actual packing expenses you have: boxes, tape, styrofoam or bubblewrap, etc. Make sure you include it in the budget for the month you purchase those items.
- Don't forget transportation costs. If you are getting a moving truck, borrowing a friend's vehicle, using your own, paying someone to move things with you, taking a flight, etc, then make sure you budget in those additional costs as well. Visit this page to learn to save even more on your travel costs.
- Plan for the trip. If you are taking a road trip, budget in any extra meal, snack, hotel, and emergency costs this month.
- Be realistic about your income. If you must take time off of work to make this move happen, then keep track of any lost income you would have made otherwise. Don't overestimate your monthly income in the budget. There are few feelings as unnerving as suddenly discovering you have far less funds to work with than you originally planned.
How much will it cost?
Now that we've been through a general list of moving and packing expenses, you need an estimate of just how much of an impact this will have on your budget. Here are some calculators we've found to be helpful to give you a general idea of what you're getting into: