My Moving Budget Calculation
Posted by Cait | Filed under Cait
This past week, some unfortunate circumstances made it so I have to pack up my things and move again – for the third time in the last six months! To say I’ve become a pro at this feels like an understatement. You would think my moving checklist was tattooed on my arm, because I get everything done so quickly now.
A few people have asked me to write a post on how to move on a budget and this third move has finally inspired me to try. I can’t say I do everything as cheap as humanly possible, but I know exactly what to expect going into it. And it all starts by changing your address with anyone who needs to know you’re moving…
Change Your Address
The minute I secure a new apartment, I change the address for my:
- driver’s license*
- car insurance
- renter’s insurance
- medical services plan*
- lending institutions
- cell phone provider, and
- hydro account.
Then, when I change my address with my Internet provider, I also have to book an appointment for a technician to come to the new place and ensure my service is working. In my case, because I found out I had to move just 10 days before moving day, I called this company first. (And I’m so lucky they had one last appointment available!)
*In British Columbia, this change of address form lets you do both. (I should seriously just bookmark it.)
Once I’m done that, it’s time to work on the budget. My moving budget consists of only two major categories: I like to call them the Payouts and the Get Backs.
The payouts are exactly that: things you are going to have to pay for to make your move possible. For this next move, my payouts will include:
- the security deposit (half a month’s rent in BC)
- a moving truck (with insurance)
- paying for my parents to take the ferry over from Victoria and bring my dad’s truck
- gas for both vehicles, and
- food for everyone who helps.
The Get Backs
Now, the get backs are often nice surprises that can usually outweigh some of the payouts. Next week, my get backs simply includes:
- the security deposit from the apartment I’m moving out of.
However, in past moves, I’ve received money back for any difference between the cost of renter’s insurance from one place to the next, and the same has gone for car insurance too. I pay my car insurance monthly now, but I think (/hope) my rate will go down when I change the address on it next week.
Once you know what your payouts and get backs will include, the calculation is simple:
Payouts – Get Backs = Moving Budget
Of course, you need to have all of the cash readily available to pay for the payouts upfront. But it is important to remember that you could be getting a little bit of money back, to perhaps lessen the blow of just how much cash you handed over.
As for a formal checklist of what to do and when, I think every move is different. For example, I already have the keys to my new place, so I’m slowly moving things over all week (and I’m doing so in bags, lol). If you have more time to plan your move, I would suggest packing early but setting aside the things you’ll want to have access to on moving day: a change of clothes, a few toiletries and clean sheets for your bed!