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Homeownership

Moving day money saving tips

Moving day can be both irritating and expensive. Look for budget-friendly tips that can help you during your move, and save yourself a few bucks.

If there's one thing that's more irritating than planning and executing a big move, it's the expense of planning and executing a big move. If you're looking for budget help for your next move, look no further! Once you're absolutely certain of your moving date, you can save yourself a few bucks (and maybe even a few needless headaches) by following these 5 budget-friendly moving tips.

Start hoarding boxes and packing supplies

As soon as you know you're moving, hang on to any sturdy boxes you receive in the mail, and look for deals on bulk packing supplies such as tape, bubble wrap, and Styrofoam peanuts. Hang on to anything that can be turned into packing materials such as old newspapers, towels, and even linens. If you need to source more boxes for your move, local stores can sometimes be a good bet. If you find you need larger boxes, most big box stores might be happy to part with a few. You can also purchase cheap, large moving boxes at many home improvement stores.

Purge your possessions

An impending move is a great excuse to have a garage sale. You may also consider online forums such as eBay or Craigslist to sell furniture or valuables that won't be making the move with you. If you're short on time and you're less concerned with turning your unwanted assets into cash, many thrift stores provide pick-up services at no cost to you. (Be sure to get a receipt so you can claim a tax deduction for your donation later!)

Move mid-month, and mid-week, if possible

Moving company and moving truck rates tend to spike at the beginning and end of the month when renters' lease agreements expire. If you can afford to wait, you may be able to save money by not moving during these peak times, and also by not moving on the weekend.

Minimize your movers' workload

If you do elect to hire movers, you might be able to pay a lot less if everything you own is boxed, labeled, and ready to go by the time your movers arrive. It is important to check with the moving company regarding their policy on responsibility for damage. Sometimes if they do not pack the items, they will not be held responsible for any damage that might have occurred during the move. However, there are movers that can be hired to load and unload moving trucks; but they may not be responsible for damage or transport of the items.

Make the most of your move at tax time

Keep track of your moving expenses and make sure to save all the receipts that are relevant to your move. You may be able to get a nice deduction for those expenses come tax time. You can find out which expenses qualify for a deduction on the IRS website.
If you need assistance with other aspects of moving or home ownership such as how to estimate closing costs or budgeting for home repairs, you'll find plenty of advice for new homeowners in the Protective Learning Center.

 

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