Moving to a new home is exciting and difficult at the same time. It's difficult because it means that you have to pack up your entire life, sell what you don't want or need, and find somewhere else to live. It's exciting because it means that you're starting fresh with a new place of your own. With all this in mind, we've compiled five tips on how to save for an upcoming move so that the process will be easier when the time comes!
1. Create a budget for your new home and stick to it
Start by identifying your current monthly expenses, then list the new ones you'll be responsible for when moving. Do this in a spreadsheet or on paper if that works better for you! Make sure to include any extras like utilities and renter's insurance premiums too. When finished, add up all of your costs so far and subtract them from your monthly income. This will show you how much money you have left over for your new home!
Now that you know what expenses are required, start to think about the extras that may be important to you too. Is there anything special or unique in your current living space? Would it be nice to live somewhere with more storage? Do you plan on hosting a lot of guests at your new home? Think about these things and adjust accordingly.
Finally, compare the two lists to see how much you have leftover for savings after moving into a new place! If it's not feasible for you right now, consider cutting back on some bills or expenses so that once everything is moved in, you'll have some extra cash to spend on decorating or other forms of self-expression.
2. Get rid of things you don't need before the move so you have less to transport
This step is one of the most important, so don't skip it! Getting rid of things you no longer need will not only leave more room for your belongings in your new home but also give you some extra cash to help fund all those moving expenses.
Start by going through every single item in your living space and ask yourself if this item is something you need in your new home. If the answer is no, put it into a box and label it "donate." This can be anything from clothing that doesn't fit old appliances or electronics. Anything not included on this list should go into another labeled as "keep" so that once everything has been packed up, you're only left with the items that will actually be coming to your new home.
Finish by taking a look at how much money you've saved so far! Depending on what approach you took, this could be several hundred dollars or even more depending on how many things you were able to sell and donate before moving day. This extra cash can be put towards all those moving expenses, or you can just save it for another day.
3. Start saving money early
In addition to getting rid of things that you don't need, there are a few other ways you can start saving early. This means no more expensive dinners out with friends or buying lattes every morning! Think about what's really important to you and cut down on the extras until your moving budget is fully funded.
Once you do reach your goal, take a moment to celebrate! Soon enough, you'll be in your new home enjoying all the extra space and comfort without worrying about how much it's costing.
Just keep in mind that although this is an exciting time for you, there are still plenty of other expenses to consider like utilities or renter's insurance.
4. Create an emergency fund to cover any unexpected expenses
Although you've trimmed down your spending and saved up for the move, there is no guarantee that everything will go smoothly. You may find yourself in a situation where something unexpected happens like an appliance breaking or running out of cleaning supplies at the same time as moving day.
To avoid this type of problem from ruining your budget, make sure you always have an emergency fund of at least a few months' worths of expenses. These funds will be there for you when something unexpected does happen, allowing you to stay calm and focus on the task at hand rather than worrying about how much everything is costing!
Create this fund by opening up another savings account or even setting aside some cash every month until your moving budget is covered.
5. Find a reliable moving company to help you with your move
This is a process many people don't think about until later on, but it's important to have one chosen early so that you can start planning for the move itself! A moving company will be able to help with packing and transporting your belongings as well as setting up an affordable storage unit for anything you won't need immediately at your new home.
Once you find a few moving companies with good reviews, ask for estimates on both the packing and transportation fees as well as storage unit costs. This will give you an idea of how much everything is going to cost in total so that you can start saving early! If your budget allows, call up some local movers now so they'll have time to plan for your move when the time comes.
If you're looking for a few helpful tips on how to save up for an upcoming move, we hope these five-pointers helped! It's not always easy to know where to start when it comes time to make the big decision of moving out. But if you follow our advice and put in some hard work now, your future self will be thanking you later.