The Real Costs of Moving with Garrett & Jill
This week on Financially Naked: Stories from The Financial Gym, join your hosts, Certified Financial Trainers Garrett and Jill, as they tackle a topic most of us face at some point: moving! After their conversation on home buying, they're back to talk about the financial and emotional costs of relocating. With Garrett's recent move and Jill's wealth of moving experiences, they're here to chat about everything from the dollars and cents to the rollercoaster of emotions that come with a move. From planning hacks to budget-friendly strategies, this episode has got you covered!
Podcast Notes
Garrett shares about his recent move from California to Nevada, and Jill reflects on the numerous moves she's made throughout the years.
The common theme for all of the moves is the importance of planning. While each experience is different, a little planning and research can go a long way.
No matter the size of the move, a lot is happening. There may be a lot of emotion tied to it, especially on moving day. It goes by really quickly, and emotions are all over the place. Remember to take a pause and reflect on how you feel.
This is true, especially if you're moving as parents with children. It can be hard for them to leave their friends and experience changes. Be sure to help your children do this with grace and keep a positive spirit around the move.
Planning Financially
Moving and setting up a new home will cost money. At every stage of the process, there are ways to spend more or be more frugal.
If you DIY, you will need to pack up your current home. You'll need to purchase packaging, tape, paper, and bubble wrap. If you drive, you'll need a truck, and consider tolls, hotels, and fuel.
Movers are also an option. From full service to truck drivers, you can hire a professional. Budgeting for movers is a great option as you age and can do less physical work.
Movers can come with insurance and do this work every day. Do your research and read reviews to find someone you can trust. If you need help finding movers, your real estate agent may have a connection that can give you an additional referral discount.
Consider the hidden cost of being away from your loved ones and community. You'll want to visit them more than you realize, so think about the cost of travel and what it costs to keep in touch.
Tips for Moving
Keep track of all expenses and receipts. Depending on your work, this information may help with your taxes. Also, keep track of all the dates from your move.
Make sure to update your address with your employer, banks, and all of your auto shipments. You can set up forwarding with USPS online.
If you work from home, check with your employer to ensure moving across state lines does not affect your employment. Update your address and withholding information to ensure you pay taxes in your new state.
Moving is an amazing opportunity to declutter and downsize. The less stuff you have to move, the easier and less expensive it is.
Final Thoughts
Depending on your goals, a move can be a great financial decision in the long term, even if there are a lot of upfront costs.
Don't be afraid to move to a new place or experience different parts of the country. A little research can go a long way, no matter where you decide to move.
Community is important. Whether moving solo or with a partner, take time to find community in your new area. Facebook groups can be an excellent option for making connections ahead of time.
Once you arrive at your new location, you'll need to set up utilities and internet. Depending on where you move, these may be different than your previous place.
Garrett and Jill wrap up by encouraging listeners to approach moving with a balance of bravery and preparation.
If you want to work with a Certified Financial Trainer to help navigate your finances or plan a move, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources
Meet The Trainers
Meet Garrett Faulconer, Certified Trainer Advisor
Meet Jill Wagner, Certified Financial Trainer