How to Fund a Big Move

Whether you’re moving across the street or across the country, it’s not fun to think through every step of a major move if we’re being honest. Beyond the amount of money that moving can cost, the cost of your sanity, labor, and stress can also take a toll. Moving can mean stress while packing, overpaying for moving help at the last minute, snafus that result in damage to property, and stress that you wouldn’t wish on your worst enemy if you are not prepared. Good news, folks. There’s a better way. Customize a moving plan, calculate your costs, create a budget, and set your plan in motion. Particularly if you are making a big move out of state or cross-country, you’ll need a plan in place to ensure things move smoothly. Your plans will require organization of the logistics necessary to pull off a move as well as a plan for funding the move. Moving loans and relocation loans are an option if your savings won’t cover all of the costs associated. Speedy Cash offers loan options that may fit the bill when you do not have other options. But is taking out a loan for moving expenses the best course of action? Before diving into how to fund a large or long-distance move, let’s review some of the costs associated and best practices for a less stressful experience. Grab your favorite snack, a pen and paper, and let’s get started!

Create a Moving Plan

It’s important, like most things we talk about here on the Speedy Cash Blog, to have a plan in place before getting the work rolling. Making a detailed moving plan can not only help you stay calm during the process but also save you money in the long run. Before you get too far along in the planning process, make sure that you have assessed your motivation for moving.⁷ Ensuring that you are making a big change for reasons that will help you achieve your goals is an important step that can not only save you time and stress but also money. If your savings won’t cover a move and a moving loan isn’t the right choice at this time, perhaps staying put is the best choice. However, there are times when taking a loan for moving makes sense. For example, if moving will improve your quality of life or allow for bigger opportunities that can change your personal trajectory, it could be worth it even if your savings account won’t cover the expenses. Convinced a big move is the right... move? Time to put your plans into action one step at a time.

 Choose Your Move Date

The next step of planning your move is to pick your move date. If you’re accepting a new job, or moving within a strict time frame, this may not be possible. If you’re moving because you need a fresh start, or if the start time for a new gig is flexible, choosing to move during the off season is preferable. Some companies offer a relocation stipend, but if not, personal loans for moving are always an option. Making a large move is expensive and costs can fluctuate. Exploring a Line of Credit and comparing it to an Installment Loan from Speedy Cash  is an option to consider when figuring out how to fund a necessary move in a pinch. You may find that a Line of Credit meets your needs as you are able to borrow funds a little at a time up to your approval amount. This might be beneficial if you expect any fluctuating costs such as extending travel by an extra day due to weather and needing more money for your rental truck. An Installment loan might be a better fit if you’re sure about the final costs ahead of time. Many people choose to move during the warmer, late Spring and Summer months verses during the cooler months, so moving outside of the peak moving season can save you money. Ideally, moving from October to April can help you avoid spiked pricing.⁸ Keep the weather in mind when selecting your move date, too, not only in your current location but your new home as well. Make sure to research whether or not to expect extreme weather during the time frame you’d like to move and plan accordingly. Once you’ve landed on your target moving date, it’s time to dive further into the details.

Cut the Clutter

Lower your moving costs by pairing down the items⁷  you’ll pay to move. Clutter is a part of life for most of us (you guys have no idea just how much stuff I have). Spending time getting rid of extra clothes, dishes, kitchenware, books, etc... can make a big difference once you’re packing up and moving. The less you have boxed up, the lower the moving bill will be. Plus, a move is a great time to have a fresh start. Ridding yourself of the extra baggage that you’ve accumulated over time is a freeing experience. Bonus: a less is more vibe in a home is easier to take care of when cleaning!  Start the decluttering process as quickly as you can after you make your decision to move. Take one room or even just one drawer at a time. When I start decluttering phases, I always stick to the “drawer-a-day" rule. When I was younger, my mom said she read that organizing just one drawer a day would help keep your home in perfect shape. My mom was much better at keeping things perfect than I am, but I’m a work in progress. One drawer, one box, one pile of junk if necessary is all that it takes to get your home in tip-top shape and ready for a move. If taking out a personal loan for moving is part of your plan, the last thing you want to do is increase costs to move things that you will ultimately not need or want in your new space. Clear the clutter and cut your costs.

Pick Your Moving Method

Moving your own items is undoubtedly the cheapest option if you’re able to do it yourself. For many of us, though, it’s just not possible. My husband and I have sworn off moving by ourselves after moving eight times in a little over a decade. Our last move was handled by movers, and it was worth every single penny. Our other moves, however, weren’t easy because we either didn’t have the money for movers or we overestimated how much stamina (and muscular ability) the two of us had. The most memorable snafu involved my husband and I attempting to move a murphy bed up a flight of stairs. I was almost pinned beneath the bed as it fell towards me. My husband somehow managed to pull the entire thing up the last few steps onto the landing by himself. Save yourself the dramatics we’ve endured. Enlist the help of friends at the very least.

If you’ve opted to hire movers, keep in mind that depending on how far you are moving the cost may fluctuate significantly. It’s best practice³ to shy away from the lowest bidding moving company  as odd as that may sound. It’s important, however, to keep in mind that you are entrusting the moving company you choose with literally everything you own. Particularly if you are moving a long distance, make sure that you vet the company by looking at their reviews or even asking for references who you can call to get feedback from on their previous experience with the company. A reputable, high-quality company will never expect you to just take their word for it when discussing how happy their customers have been with their work. Read all contracts and documents thoroughly, there are a lot of waivers and extra items that can cost you if you don’t pay close attention to the fine print of any moving company or U-Haul contracts.

Calculating the Cost of Moving

Average moving prices¹ can range from below $1,000 to ten times that much. That’s a pretty significant gap. Pricing is affected by multiple factors including distance, which steps you utilize professional help with when completing, and even which time of year you choose to move. The size of your home,² and the number of boxes and belongings you choose to move after you declutter also affect pricing. So, prioritizing that decluttering process can be in your best interest. Undoubtedly, hiring movers can prove to be the costliest portion of a move, particularly a long-distance move, but with a little planning you can make it happen. Whether you work to save enough for a move in the future or utilize loans for moving expenses, you want to keep the reason for your move in mind. That focus will help you determine whether or not you’re making the right decision and whether or not a loan is in your best interest if your savings won’t cover costs.

Moving Supplies

If you don’t plan to hire movers, you’ll need to purchase or rent quite a few tools of the trade to get the job done. You’ll of course need boxes which can be purchased along with tape and packing materials to keep your breakable items safe. You can usually find boxes on Facebook marketplace at a lower cost, and you can even find boxes for free at grocery stores sometimes. Just be sure to wipe down any boxes that are used to ensure you don’t bring any bugs into your home or to your new place.

Movers

Moving long distances can be expensive when hiring movers. If you’re moving more than 100 miles away⁴ from your current location, that is considered a long-distance move. One possible route to consider is to hire help for one day in each location (current home and new home) and move the items yourself by driving a moving truck or van. Another option is to hire a company to handle the driving for you. No matter which you choose, you can always ask for a discount⁶ which is a great reason to collect quotes prior to making a deal with a specific company. The exact cost of your move,¹ including hiring movers, will be dependent on many unique factors, so calling a moving company for quotes months in advance is advisable. This gives you time to make a solid plan B if hiring help isn’t going to be feasible for your budget. I have moved cross country twice without movers being involved, and it was considerably cheaper than an in town move with movers. Renting a moving truck can be affordable, just make sure to compare prices and go with the best deal for your circumstances. Always plan ahead – last minute bookings and rentals can cost you more than a planned reservation for a later date.

Incidentals

Keep in mind when moving that there will be incidental costs associated such as gasoline for the moving truck if you’re driving yourself, additional help for unloading if your plans to utilize friends or family fall through, and snacks to keep you fueled up. If you need a hotel room along the road, make sure to put that in the budget as well. The more in depth your budget planning, including the small costs that can easily add up,⁶ the better off you’ll be. Keep in mind you may encounter potential connection charges for utilities in your new place in addition to any housing costs you’ve undoubtedly already budgeted and planned for prior to your move.

Creating a Moving Budget

The most important step when planning a move is to create a budget that works for your specific situation. You may have savings to cover the entirety of your move, or you might be considering a personal loan for moving. Either way, make sure you carefully budget each phase of your move from boxing up your belongings to buying dinner on your first night in your new place—you'll undoubtedly be exhausted. If you find yourself in a pinch and you’ve used your savings, Speedy Cash is always available to help you cover additional costs. Applying is quick and simple, and decisions are rendered in a speedy fashion. Paying for a move in cash is ideal, but if you aren’t able to pay in cash make sure you carefully consider your ability to repay your loan⁵ in a timely manner. Once you’ve determined that a personal loan for moving is in your best interest, Speedy Cash will be happy to help! Moving can feel overwhelming, but with your newly inked plan in place and backup funding options in mind, you’re on the right track to a happy, successful move!