How to manage money when moving: Tips and tricks
How to manage money when moving: Tips and tricks
Moving tips NYC
September 8, 2023

How To Manage Money When Moving

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How To Manage Money When Moving

You're relocating but have no clue how to arrange a budget properly. We understand that budgeting can be challenging and is probably the last thing on your mind when moving. However, keeping your finances in order during this time doesn't have to be difficult; all it takes is proper planning and organization. This blog post will discuss tips on how to manage money when moving to help you relocate without stress.

Create a budget

Budgeting is crucial when moving

Budgeting is fundamental to ensuring you don't overspend when moving. It will also help you keep track of all expenses, so you are better prepared for any unforeseen events during this transition.

Start by creating a budget that outlines all the expenses associated with the move. This should include packing materials, moving services, transportation, temporary accommodation, and other related costs. This will give you a clear idea of how much money you need to allocate for the move.

Estimate Costs

Doing this as soon as you get a moving date is crucial. Research and gather quotes from (at least) three moving companies. This will ensure you secure the moving company that meets your moving needs.

If you’re moving yourself, get estimates from rental truck companies or other service providers you'll need during the move. Make sure to get quotes in writing and compare them to find the best deals.

Tip: Remember to keep all estimates with you before, during, and after the move. It is crucial to do so in cases of dispute.

Save for moving expenses.

If possible, start saving for your move well in advance. Setting aside a specific amount each month can help you accumulate the necessary funds to cover your moving expenses.

If you aren’t sure how to start saving, consider asking for professional help from a financial institution or doing research and starting well in advance.

When doing a last-minute move, it may be hard to save, depending on the amount of time you have until moving day. If this is the case, consider planning a proper budget so you don't overspend.

Use a moving checklist.

Several checklists are involved in a move, including a packing supplies checklist, a moving day checklist, etc. Using checklists makes everything less overwhelming.

Create a detailed checklist to keep track of all the tasks and expenses. This will help you stay organized and avoid missing any important deadlines. It also helps ensure you stay within your budget, making it easy to manage money when moving.

Downsize and declutter

Whether you are moving from a small apartment to a big house, decluttering is important. The ideal time to start decluttering is when you get your moving date. Doing this early will save you a lot of time and money.

Another great tip to help manage your money when moving is to downsize. This is especially important if you live alone or don't need a bigger space. Downsizing is helpful because the smaller the space you have, the less it’ll cost to maintain and the cheaper the bills, so consider this when moving to a new place.

Moving is an opportunity to declutter your belongings. Sell or donate items you no longer need, which can help you earn extra money and reduce moving costs.

Research the cost of living.

Managing money when moving involves researching the cost of living in the city, town, or country you’re moving to. This will help you better prepare financially and mentally.

If you're moving to a new city or region, research the cost of living in that area. This will help you anticipate any changes in your monthly expenses and adjust your budget accordingly.

Notify financial institutions

Moving involves a lot of changes, and notifying financial institutions is no exception. Do this on time so everything is done and ready by the time you move into your new home.

Update your address with banks, credit card companies, insurance providers, and any other financial institutions you're affiliated with to ensure that you receive important correspondence and bills.

Transfer Utilities and Services

Transfer all utilities before moving out

Transfer or cancel utilities, cable, internet, and other services at your old address to avoid being charged for services you're not using. Do this at least two weeks before you move.

Plan for Security Deposits

We all know that when renting a new place, you’ll likely be asked to pay a security deposit before moving in. So, be prepared to pay security deposits and the first month's rent. Make sure you have the necessary funds available for these expenses.

Keep important documents and valuables secure.

Organize important financial documents, such as bank statements, insurance policies, and tax records, and keep them in a secure folder. This will help you access these documents during and after the move. Additionally, consider packing valuable items such as jewelry and electronics separately to ensure they remain safe and accounted for during the move.

On the day of the move, the best place to keep your documents safe is to carry them on your person. Do not put documents in the moving truck.

Temporary Accommodation

If there's a considerable distance between leaving your old home and moving into the new one, budget for temporary accommodation expenses such as hotel stays or short-term rentals. This is especially great for long-distance moves like cross-country.

Emergency Fund

Moving can come with surprises or accidents (unfortunately), so having a financial cushion is crucial. Have an emergency fund in place in case the aforementioned happens.

Change Address

Update your address with the post office, and consider notifying friends, family, and other important contacts about your new address.

Lastly, monitor expenses throughout the move by keeping a record of how much you spend to ensure you stay within your budget. Adjust as necessary to avoid overspending.


Moving doesn't have to be a financial strain. By creating a budget, planning, and making informed choices, you can navigate the financial challenges of moving without stress. An organized and proactive approach not only saves money but also reduces stress. Following these tips will ensure you're well-equipped to manage your finances effectively and transition smoothly to your new home.

Are you moving soon? Contact us for a free estimate at (718) 619-4881 or visit our website for more information.


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