The Moving Series Part 2: Budgeting for Your Move

Moving can be expensive, so it’s super important that you set aside some money if you want to be prepared.

I was lucky to have a teacher in college who took some time during a class to go over the costs to anticipate when moving into your first apartment and starting out in the real world. I wanted to share that list with you today along with some of my own moving budget advice.

The Budget My Teacher Gave My Class

First Month Post-Grad Costs:

First Month Rent $1000

Last Month Rent $1000 (She said that apartments make you pay first and last month rent up front. That hasn’t been my experience, but there are other fees like application fees, cleaning fees, and a security deposit that can add up to a couple hundred.)

Furniture $3000

Dinnerware and Kitchen Supplies $200

Utilities $500 (Energy, Internet, Water – on my most expensive months, I pay about $225 for all these together.)

Phone $75

Insurance $150

Gas $200 (Depends on a lot of things, but I only pay about $50 a month unless I’m taking a road trip.)

Food $400 (This is a realistic number for groceries, but if you plan to eat out a lot, you should actually increase this number. I spend about $100 on groceries per week and eat out 0-2 times per week. Think about it like this: there are 31 days in a month x 3 meals per day = 93 meals per month; $400/93 is only $4.30. Believe it or not, it’s possible to make a home-cooked meal for that price, but you can’t get much eating out for that budget.)

TV $500

Fun $250

Other/Buffer $100

TOTAL $7,375

I find that budget to be pretty conservative, but it’s definitely better to be conservative when budgeting because you’d rather set aside too much money than not enough. I would say that if you can set aside $5,000-$8,000 for your first month in the real world expenses, you’ll be good.

If that bottom line shocks you, there a lot of easy ways to bring down these costs. Here are some ideas:

• Get a roommate. Most two-bedroom apartments are only $100-$500 more expensive than one-bedroom apartments at the same property. Living with someone can cut your rent cost almost in half.

• Get used furniture from your parents (if they’ll let you have it), consignment stores, or on Facebook Marketplace. If you are moving to a college town, there are always good deals on Facebook from students coming and going between semesters.

• Ask your parents for the pots and pans they doesn’t use anymore. Chances are they have some laying around in the back of their cabinets.

• Share your phone plan. I stayed on my parents’ family phone plan and just paid them my portion monthly once I graduated college. Recently, my boyfriend and I switched to our own plan together, but I’ve never paid more than $40 per month for my phone service. An individual phone plan can be double that or more.

• If your car is in a parking garage or other “storage location” and you’re not driving it for a month or more (think military deployment), you should talk to your insurance company. Mine offers a massive discount on my premium for the months my car isn’t on the road. I can’t remember exactly how much, but I feel like it was around 80% less expensive those months.

But let’s say now that it’s not your first move and you already have furniture and a fully-stocked kitchen. There are still some costs to think about and budget for.

My Moving Budget Tips

• Movers – You have more stuff now than you did when you left school or home and started out in your first place. Chances are you won’t be able to caravan all your stuff with your car and mom’s van this time. Your cheapest option will probably be renting a U-Haul and loading it yourself. For a local move, you can rent one for $20 per hour. For a full day it’s just over $100. If you want to hire movers who will do all the packing, loading, and shipping for you, they’ll be closer to $800 to a few thousand depending on where you’re moving, how much stuff you have, and what floor you live on. I recommend reaching out to 5 different movers for quotes before you choose one. Consider the quotes as well as the customer reviews, but it could save you a few hundred dollars.

• Apartment fees – There will be application fees for each, then once you pick, you’ll likely have to pay a security deposit and cleaning fee. I recommend setting aside $500 for these costs all together.

• First Month Rent – If you don’t move at the end of the month, you’ll likely have to pay rent for your old apartment at the same time you’ll pay the first month of the new one. You should get reimbursed some money from the old apartment if they pro-rate it for you, but this money may not come back to you for up to a month.

• Furniture – Since every apartment has different dimensions and features, I find myself buying some new (or used but new to me) furniture every time I move.

• Utilities – Be sure to find out which utilities are included in your new apartment. Some include internet and cable service in the rent price, others pay for water for you. Also factor in activation fees for internet and water. Activation fees are usually just $10-$30.

• Appliances – Having a washer, dryer, dishwasher, and microwave in my apartment are things I look for when I’m househunting. Some apartments won’t come with all of these appliances included. Factor into your budget any appliances that you’ll want to buy to complete your place and make it liveable for you.

• Restocking the Fridge – Anticipate your first grocery bill to be a little more expensive than normal. You’ll likely have to replace some of the things in your kitchen that you couldn’t take with you. Stocking the fridge from scratch might cost some money.

• Insurance Rate – If you’re moving to a new state, be sure to call your insurance company and talk about the rates for car insurance and renters insurance in your new state. Moving from Louisiana to Florida actually dropped my six-month premium by several hundred dollars, saving me a ton of money.

• Title, License, and Registration – Check the rules for changing your residency. In FL, I think I had 30 days to get my documents updated. Check with your DMV or County Tax Collector, but expect to pay some money to get your title, license, and registration updated. It might be $20, it might be $150 depending on where you go and what you need to update.

• Professional Licensure – If your job requires you to be licensed in your new state for your profession, you may want to add these fees into your moving budget.

TOTAL: I would recommend setting aside at least $2,000 for the above and any other unexpected costs you may incur while moving. If you are paying for your own move, that number may be closer to $5,000 or however close to that you are financially able to save in advance of the move.

I hope this post helps you anticipate and plan for some of the “unexpected” expenses associated with moving.

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Cheers!

Sarah