Building A Personalized Moving Budget So You Don't Go Broke

Go broke or go home they say! Although, you can really go home if you’ve already gone broke because of poor budgeting and bad choices.

There are so many reasons to plan ahead for a big life event like a move. We are here to help you understand why and how it's done so that you’ll still have money left over for food and life expenses.

Building a moving budget that fits your lifestyle is essential to help you manage expenses and save money during the moving period. Knowledge is power.

• Be proactive. Don’t be a victim of the things happening around you. Take responsibility for your future and actions. With a personalized moving budget, you understand where you have wiggle room and where you really don’t. Financial awareness is key.
• Prioritization is easier when you know your choices ahead of time.
• Peace of mind knowing that you have the budget to pay for the services you are ordering. There is nothing more stressful than thinking you can't finish off the month. No amount of mindfulness or breathing techniques can help with debt issues.
• Avoid running into debt accidentally as your move costs could be thousands of dollars more than you think they could. Sit down on it and understand the numbers that way you’ll book the right services at the right time.
• This is the key to setting personal financial goals. When you know your moving costs, you can budget for things like home upgrades to the windows, adding on a deck in the backyard or other fun things. This will give you stability when the move is over to run your life financially literate.
• The more you know, the higher your chances of saving money on the side that you can use to reward yourself for the hard work done on your move. Maybe it’s time to book that Mexico vacation you’ve been dreaming about! Who knows? For not you if you aren’t building a personal moving budget.

Here are the basic steps to make it happen. Get that pen and paper ready (or a Macbook is fine too).

• Create a personalized moving inventory list of all items in your home and their condition so that you can ask for proper binding quotes.
• Start by researching the actual local costs of movers in your area with your requirements. Don't forget to take into consideration any days of work you’ll miss, extra costs for child and pet care before, during, and after the move, moving supply costs, and any other incidentals. 
• Take into account the base moving rate, specialty items fees, and moving insurance. There could also be extra fees for stairwells climbed, lack of an elevator or door access, or lack of access road.
• When budgeting, think about the time you have and the opportunity costs of missing work or the gym
• Set your priorities once you understand your budgeting constraints. Maybe you are low budget and need to do a DIY style move, or maybe you will understand that it makes financial sense to have a VIP packing service help you out since the equivalent in childcare will be the same price. 
• As you go, have a running tally Excel chart with links to receipts. Keep the tally going as you have to add in things you didn’t account for like running out of cartons, or extra meals you have to eat out. 
• Have an income chart and expenses chart to see your balanced totals.
• Budget for incidentals that could happen like needing more supplies, things breaking that are not covered by insurance, and other life events that may occur.
• Sell off unneeded items to add some income to your budget. A garage sale can be a great way to get rid of clutter. There is no better feeling than adding funds to the income chart.
• Negotiate good rates with your movers, or just avoid those conversations and book directly on iMoving where you know you are getting the best deal. 
• Set funds aside for an emergency fund. Most experts recommend having three months of living expenses tucked away just in case! 
• As much as possible try not to deter from the moving budget you’ve set for yourself.
• Don’t worry about having to adjust the projected totals to true prices once you’ve received a receipt. It’s nice to keep a tally of both to see if you are over or under your projected budget.

Planning a budget for your move is a strategic and responsible approach that allows you to manage your personal home finances effectively, make informed decisions, and ultimately avoid sticky situations later down the road.

Be responsible and take the time to sit down with your family and understand your financial situation. This wa you can make the best informed decisions, together.