October 11, 2021

Money for Moving: Financing Your Next Move

Relocating
Moving is tough. It’s stressful. It’s time-consuming. And it’s extremely anxiety-inducing. But that isn’t to say that moving isn’t completely worth it.

Moving is part of life. Everyone relocates at least once in their lives, so we should all do ourselves the favor of being prepared for the next big move. Beyond making sure you have the right boxes, emergency preparedness, and mover’s insurance, making sure that you’re able to finance your relocation is equally important.

So, how do you make money for moving? No, you don’t have to take out a loan, dip into your IRA, or your kid’s college fund. Well, you could, but that isn’t the best way to raise moving money.

Here are some tips for financing your next move that doesn’t involve spending your hard-earned cash:

Ask Your Employer

Most of the time people move, it’s because of a career change. If your move is job-related, then your employer should pay for the relocation. Many companies provide financial support for moving. However, you should be prepared to cover any additional expenses outside of the company moving budget.

But before you spend your own money, be sure to ask your employer for financial assistance.

Sell, Sell, Sell

A garage sale is the most traditional way to raise money for your big move. Not only do you raise some additional cash, but you get the chance to unload and declutter your home. Nobody wants to hoard on their way to their next home. So, hold a garage sale.

Be sure to promote your sale. A well-organized and promoted sale can raise enough money to cover your entire move.

Use Some Spare Cash

If you have one or more Certificates of Deposit (CDs) sitting in your bank, then liquidate them. CDs are usually used for emergency cash down the road. And, you can also liquidate other types of assets, like stocks and bonds.

With moves potentially costing thousands of dollars, it’s a great idea to come up with some creative ways to finance your next relocation. Don’t go broke over the next big move.