Set Your Moving Budget With This Guide

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Moving can be an overwhelming experience that can become expensive without proper planning. When creating a moving budget, there are many factors to consider when determining the final cost.

On average, a local move can range from $300 to $1,500 depending on the move’s size. Long-distance moves can cost on average $2,500 to $5,000 depending on the move’s size and the distance.

Creating a moving budget is the best way to start administering your finances as you plan your move. You'll want to weigh the pros and cons of doing it all yourself, hiring muscle for the heavy lifting, or leaving it all in the hands of a professional moving company. Here’s what you need to know.

Create a Moving Budget Template

There’s no need to use software or moving calculators to create a moving budget template. Whether you choose to write it down on a sheet of paper or translate this template into a spreadsheet online, both will make creating a budget easier.

Instructions for setting up a moving budget template:

  1. Add the following categories at the top of your page: Category and Cost.

  2. Create three main sections on the first column: Professional Movers, Self-Moving, and Other Expenses.

  3. You’ll fill in the prices for each of the moving items listed below under the appropriate section.

  4. Create a row entitled Subtotal under each section.

  5. Add up all the professional or self-move costs using a calculator or the appropriate formula available in your spreadsheet and place this value in the Subtotal row.

  6. Create a new row under Subtotal entitled Contingency and multiply the total by at least 5% (though if you want to be super safe, double it). Then add that to your subtotal.

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Calculate Your Moving Costs

Your moving costs will be different whether you choose to work with professional movers or plan the move yourself. When using the moving budget template mentioned above, you’ll be able to see where you can cut back on expenses or which option fits your budget best.

Working with Professionals

While it may seem more expensive at first, working with moving professionals can save money and time in the long term. Most movers charge by the hour, so you can identify areas where you can save time (and money) by doing some of the work yourself (i.e., storage, packing and prepping furniture ahead of time).

If you’re working with professionals, add these moving expenses to your Professionals section:

  • Moving fees/rates

  • Packing services

  • Moving insurance

  • Specialty item packaging services (moving pianos, safes, artwork etc.)

  • Hidden costs (damages/claims, meals, tips etc.)

  • Unpacking services

Moving Yourself

Moving by yourself might seem like an easy way to save money, but it’s not free. If you’re moving on your own, add these moving expenses to your Self-Moving section:

  • Truck rental

  • Gas

  • Moving insurance

  • Furniture insurance

  • Additional moving equipment rental (ramps and dolly)

  • Packing materials (boxes, tape, covers etc.)

Other Moving Expenses to Consider

Depending on what you need, add additional costs into your contingency total or break these costs out into a separate category.

  • Car shipping

  • Car maintenance

  • Lodging

  • Home cleaning

  • Storage unit rental

  • Insurance

  • Cost to move from/to storage facility

  • Child care

  • Pet care

Track Your Expenses

Some moving expenses are tax deductible so keeping receipts organized will eliminate some headaches at tax time. One expense that may be tax deductible is gasoline. Fuel will be a big part of any moving budget, the longer the distance, the more expensive; moving calculators that estimate gasoline needs can help.

You'll want to adjust the household budget for changes in income that might be necessary after relocation. Getting set up in a new city or state can come with unanticipated expenses. The cost of registering vehicles in the new home town may be different from what you're used to budgeting. Business licenses may be expensive to transfer or they may be not needed at all. Sales taxes in the new town may make an unexpected difference in everyday purchases.

Commuting costs may be different in the new location due to differences in the cost of gasoline, auto expenses, toll roads, and the distance traveled.

Factor in Children & Pets

Establishing a nurturing environment for the kids may incur some unanticipated expenses or variations to the current budget. Things to consider are the cost of schools and daycare centers in the new area. Fun things like dance lessons, sports participation, the zoo, the movies, and other favorite activities may take a different bite out of an established budget.

Pet registration fees and veterinary expenses will affect the household budget, too, so don't leave them out.

Moving your aging parents into your home

Many families today are taking in aging parents as permanent additions to the household. The move out of the parents' home and into yours may affect your own budget in ways you'd never expect. You'll want to think about how this change to the family structure will affect your budget, especially if someone needs to quit a job to become a stay-at-home caretaker of if outside medical care is necessary.

Routine medical costs vary by location, too, and could affect the established budget of your household as well as your parents' income. Their retirement income may be affected so any deficits here will need to be addressed.

The decision to move is a big one. Once the decision is made, questions will seem to lurk around every corner and behind every unpacked box. The logistics can seem monumental and surprises are sure to happen. They'll be more manageable when you're armed with as much knowledge as possible and you're working a well-conceived plan that anticipates as much as possible.

Budgeting Resources:

  1. City to City Moving Calculator

  2. IRS Standard Mileage Rates for business, medical, and moving purposes

  3. Freight calculator for international moves

  4. National Association of Colleges and Employers Salary Calculator Center

  5. Calculate Your Cost of Commuting

  6. Commute Cost Calculator: Compare the actual cost of six different modes

  7. How much house can you afford?

  8. Household Carbon Footprint Calculator

  9. Cost of Raising a Child Calculator

  10. Calculating the Costs of Having Parents Move In With You

  11. Resources for Moving to Wisconsin

  12. Bureau of Labor Statistics Databases, Tables, & Calculators by Subject

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