3 Tips for Building Your Moving Budget

Author: Anna Gomez, Branch Manager 12/17/2020

Finding ways to save money when you are moving is no easy task, but it’s doable if you know where to start. Before you begin packing up boxes, check out these tips for building your moving budget.

Declutter and donate

When looking for ways to save money on your move, start by asking yourself what you can get rid of. Take the time to go room by room and evaluate the items you absolutely need, versus those you can live without.

Decluttering before it’s time to pack not only trims down your moving load, but it also offers another potential benefit—extra money. Selling some items that won’t be making the move can add some extra money to your savings account.

You can also donate some of the items. The IRS allows you to deduct charitable donations worth up to 50 percent of your adjusted gross income when contributing to most nonprofits. Just remember to get a receipt from the organization to which you’re donating to show what you’ve given.

Run the numbers on professional movers

Hiring a moving company removes the burden of getting your stuff from Point A to Point B, but it can put a strain on your wallet. Understanding the costs is one of the most important tips for moving on a budget.

Most moving companies offer free quotes based on the criteria of your move, so be sure to get a few quotes before picking a mover. Be sure to verify whether the movers are paid by the hour or based on your load. If you have few things to move or you’re only going a short distance, hourly movers may be cost-effective and a simple way to save money on your move. On the other hand, paying a flat rate based on the load might make sense if you have a lot of items or the move is long distance.

Check your calendar

One thing that can significantly affect the cost of a move is when you schedule it. Carrigan says moving between October and April is typically 20 to 30 percent cheaper compared to the summer months, when moving season is in full swing. The time of month you decide to move also matters if you’re renting a truck or hiring movers.

Since most rental leases roll over at the end of the month, moving mid-month could get you a cheaper rate. Movers tend to have fewer reservations at this time, versus the beginning or end of the month, so you may be able to score a deal on your rate and save money when you are moving.

Rates also tend to be higher on the weekend, which makes booking a move during the week more appealing for the budget if your schedule is flexible.

Budgeting for the big move

There’s a lot that goes into the moving process, but finding ways to save money on your move doesn’t have to be a time-consuming chore. Some common sense—and a little creativity—may be all that’s required.

To learn more about how PlainsCapital Bank can help with your moving budget, call us at 866.303.0557 or visit your local bank branch today.

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