People move to new cities for various reasons. They include:
- A new job
- To care for aging parents
- To live closer to family
- To find a more affordable place to live
- Starting over after a divorce, job loss, or a health crisis
- Teens who are going away to college or college graduates who start new jobs
Moving expenses are quite high these days. According to estimates from different moving companies, expect to pay between $600 and $15,000. Some factors to consider in your moving expenses are the distance, the weight of your items, and the number of movers needed. Moving insurance is also vital to protect your valuables in case something goes wrong. Here is to save money while moving to a new city.
Get Multiple Quotes from Moving Companies
Don’t settle on one or two quotes from moving companies. You should get multiple quotes to get an idea of how much you would pay for moving expenses. Once you have an idea of the average costs, you can adjust your budget to accommodate the expenses. This also keeps you from being overcharged by shady movers who want to scam potential customers.
Create a Savings Account for Moving Expenses
A few months before moving, create a savings account for moving expenses. This helps you pay for the moving companies, packing supplies, and any expenses you incur once you move to the new home. Automate part of your check every pay period and use surpluses such as bonuses and tax refunds for savings. Sell items you no longer need and deposit your earnings into a savings account.
Ask Friends and Family to Help You Move
Moving to a new city will get expensive if you work with a moving company. Ask friends and family to help you move. This saves you money, and they get to spend time with you for a few hours. Have them come to your house and serve them lunch and snacks. If your brothers all have trucks or vans, they can bring some of your items to the new home. Your parents and siblings, and friends can help you pack and organize your items.
Get Free Packing Supplies
Some places offer free packing supplies. These places include grocery stores, dollar stores, apartment complexes, college dorms, and local schools. If you have neighbors and friends who are also moving soon, ask them for extra boxes and other packing supplies. Facebook Marketplace is also a great place to find free items.
Research the Cost of Living in the New City
Learn more about the city’s cost of living before moving there. Learn about the most affordable neighborhoods and the cost of living in the areas of housing, groceries, healthcare, transportation, and utilities. Visit the city at least once or twice to get an idea of what the culture is like in the new city. Research the crime rates and the education system. Talk to locals and ask if they’re satisfied with the quality of life in the city. Research the job market to identify the strongest job sectors in the city.
Look For a Home Close to Work and Amenities
Save money on living in the new city by renting or buying a home that is close to your workplace and amenities such as supermarkets, schools, hospitals, parks, and government buildings. This saves you money by not having to commute for hours and spending so much money on gas.
Stick to Basic Utilities
When you first move to a new city, don’t subscribe to non-essential utilities such as cable TV or a host of streaming services. Stick to your basic utilities such as lights, water, gas, sanitation services, and Internet services. This keeps your budget reasonable, and you can put more of your money toward emergency savings and other household expenses.
Do Strategic Networking
Moving to a new city is often stressful if you don’t have relatives and friends in the area. Networking isn’t just for job hunting. Networking is also important to build new social connections. Attend events that are related to your interests. If you love to cook, join a weekly cooking class and exchange numbers with some of your classmates. If you’re a dog owner, take your dog to the local dog parks and meet new friends there. The people you meet provide friendships, and they can recommend new ways to save money as a new resident.
Don’t Furnish Your Home With Expensive Things
You don’t have to pay high prices to furnish your new home. There are ways to do it frugally. Thrift stores, estate sales, flea markets, and garage sales have affordable furniture and home decor to make your home look fabulous. Repurpose the furniture and decorative items you already have. Focus on the essentials you need for an efficient and beautiful home.
Negotiate Your Rent
If you’re moving into an apartment, negotiate your rent with the landlord. Research what the average rental payment is in the city. Offer services to the landlord in exchange for lower rent. You can mow the grass around the apartment building, do administrative tasks, or promote the apartment to potential tenants. Get recommendation letters from previous landlords that vouch for your character.
If You’re a Homeowner, Rent Out a Room
If you bought a home and want to save money on your mortgage, rent out a room to a tenant. Conduct a background check before you rent out the room. You should also verify the tenant’s employment and income. This is important because you want the tenant to have steady income and employment. Get references and recommendation letters from the tenant’s previous landlords.
Look For Free and Inexpensive Entertainment
Most cities have inexpensive and free entertainment options. Attend free festivals and research the most affordable nightclubs, bars, and restaurants. Libraries sometimes offer free educational activities for families with kids. The local TV news programs often announce free events around town. Read local community newspapers and ask neighbors for suggestions.
Side Hustles Can Bring in Extra Income
What if you’re moving to a city with a high cost of living? Side hustles can bring in extra income and boost savings. Some ideas include:
- Handyman services
- Selling things you no longer need
- Babysitting
- Selling hot lunches or snacks from home
- Online remote work
- Dog walking/sitting
These practical tips can save you money while moving to a new city. Moving is a big step, but it doesn’t have to drain your bank account. By planning and being mindful of your spending, you can make your transition to a new city a financially smooth one.