South FloridaHow Much Money Should You Save Before Moving Out?

April 30, 2021by Established Moving

It’s an exciting time to move out, especially for the first time. However, it can be a confusing time figuring how much money you should save before moving out. Read from our expert South Florida moving company to help prepare you for your upcoming move.

How to Prepare for Moving Out?

Our professional residential movers suggest that before you start packing up your belongings, you should prepare for moving expenses, lease agreements, utilities, living expenses, medical bills, insurance, and other monthly expenses. When looking for places to move to, try to find rents or mortgage payments that do not exceed 1/3 of your monthly income. If you are having trouble making that work, try finding a reliable roommate to help split monthly rent and utility payments.

Make a Savings Goal

Our South Florida movers and packers have seen all kinds of moves. There are all sorts of unexpected fees including rental application fees and background checks before having to pay the first month, last month, and security deposit at once when you sign a lease agreement. After signing a lease agreement, budget for paying monthly utilities, renter’s insurance, moving expenses, and pet fees. We recommend making a savings goal of least 3-6 months of living expenses before committing to move out for the first time. Not saving enough or not paying for utilities on time can result in penalizing your credit score.

Tips for Saving Money to Move Out

Start Small

Every journey begins with the first step. The first step for saving money before moving out is to start small. Saving $5 a day will result in almost $2,000 in savings over the year. Here are some simple daily saving money tips to kickstart your moving out fund:

  • Automatically set your bank account to place a select amount of money to your savings account per month. Setting your account to save $20 a month can save you over $200 a year. This will be significant for moving and living expenses.  
  • Make coffee at home instead of purchasing the daily caffeine fix. It might add 10 minutes to your morning routine, but it will add at least $5 a day to your saving funds.
  •  Reduce or stop buying take out for lunch or dinner. If you budget to spend $200 on groceries for the month instead of the average $15-$20 for take out every day, you can save up to $3000 for the year.

Pro Tip: Prep your meals at the beginning of the week to keep yourself from ordering out.

  • Purchase your daily expenses with cash to ensure that you don’t go over your daily budget. Anything left over at the end of the month can go into your moving out saving funds.
  • Save up by running or working out at home rather than enrolling in a monthly gym membership.

Pro Tip: Run around the neighborhood or look on the Internet for free workout videos.

  •  Set your thermostat settings to be warmer throughout the day when you are at work or out running errands. Even setting the thermostat one degree higher can save you $100 a year.
  • Wash your car at home instead of using a professional car washing service. 

Pro Tip: Make some money for your upcoming relocation by offering to wash cars in your neighborhood or office. 

Have a Garage Sale

To help you save money for moving expenses, have a garage sale for all the things you no longer need. It’s a great way to get you to your savings goal. For the remaining belongings that didn’t sell, put them on the Internet or donate.

Create a Budget

Along with a savings goal before you move out, create a monthly budget to organize your monthly expenses. Keep track of your monthly expenses including rent, utilities, medical, transportation costs, groceries, etc. so you can save for an emergency fund.  

Contact Professional Movers

Our South Florida moving company wants to help you move out by providing exceptional and affordable packing and moving services. Get a free moving quote by contacting our professional movers to assist you. Scheduling a move with our full-service movers is as easy as calling (888) 343-4755.

 

Related Reading: 

Most Eco-Friendly Cities in Florida 

10 Best Neighborhoods for Families in South Florida

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565 ANDOVER PARK W SUITE 100
TUKWILA,
WA 98188
DOT# 3064331
WUTC# THG067984

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