Karen Lawley's Blog
A lot changes when you move into a new home. For the first few weeks you’ll most likely be focused on getting everything arranged and put away in their proper locations. You’ll be adjusting to your new work commute, meeting the neighbors, finding out where to shop, and so on.
It’s easy to forget about updating your budget during the first couple of months in your new home. However, if you want to be mindful of your spending and gauge the true cost of living in your new home, it’s essential to start tracking expenses and creating your budget as soon as possible.
In this article, we’re going to show you how to make a new budget for your new home so that you can start accurately planning your long term finances. That way, you and your family can rest assured that you aren’t living above your means in your new home and can stop stressing about spending.
Cost of living changes
When most of us move we think about the change of our mortgage payments, property taxes, and home insurance. However, there are several smaller changes that will occur in your day-to-day spending habits that you might not think to update in your budget.
First off, make a note of how much you’re spending on transportation (whether it’s train fare or gas for your car) in your new home and adjust this on your budget. This is hard to predict before you move since you can’t be sure of the traffic patterns until your first trip to the office.
Next, make a list of your monthly services, including utilities. We’re talking about internet, cable, trash and recycling, heating and electricity, and so on. At the end of the first month, add each of those to your budget and decide if you want to spend less on any of them.
One surprise expense that many people have when they move is the cost of internet. Your old plan at your former residence might not cut it if you move to an area with different coverage.
Furnishing your new home
Even if you’re moving with most of your furniture and appliances, there will likely still be expenses that you’ll need to plan for in your new home.
It might be tempting to make all of these purchases at once so that you can feel like your move is “complete.” However, the best course of action is to include these items into your monthly budget so that you are prepared for emergency expenses.
Decide which items you need the most in your new home, and prioritize purchasing those on the first month. You’ll likely realize after just the first couple of nights in your new house which items you need now and which can wait.
Budgeting apps and tools
Everyone has their own preferred method of record-keeping. Some people keep their budget in a notebook or planner, whereas others like to use an app that they can access on their phone or laptop.
There are dedicated budgeting apps and web applications that link to your bank account and tell you how much left you can spend that month and if there is an issue with your budget. Several such apps are available for free in both Android and Apple app stores.
For a simpler budget, you can simply use the spreadsheet application of your choice (Excel, Numbers, and Google Sheets are all sufficient).
Regardless of what tool you use, make sure you check in on your budget frequently to ensure you’re sticking to it and making adjustments as needed.
If you recently bought or sold your home, moving day may be rapidly approaching. Fortunately, you still have time to pick up must-have supplies so you can get ready for moving day.
Now, let's take a look at three items that you should purchase prior to your upcoming move.
1. Moving Boxes
In all likelihood, you have a wide range of personal belongings that you need to pack. If you have lots of moving boxes at your disposal, you should have no trouble securing your personal belongings so you can transport them to your new address.
Home improvement and moving equipment companies often sell moving boxes in many sizes. You also may want to consider visiting a local grocery or convenience store to find moving boxes; in some instances, a grocery or convenience store may be willing to provide you with its empty food and beverage boxes free of charge.
2. Packing Supplies
In addition to moving boxes, you'll need supplies to ensure that you can pack your personal belongings safely. With packing supplies in hand, you can guarantee that your personal belongings are protected as they go from Point A to Point B.
Must-have packing supplies include bubble wrap, packaging tape, markers and labels. If you pick up these supplies today, you can move one step closer to finalizing your moving day preparations.
3. Snacks and Beverages
Oftentimes, moving day can be hectic, even for those who allocate significant time and resources to prepare for the big day. As such, it sometimes is easy to forget to eat and stay hydrated as you try to bring all of your personal belongings to your new address.
For those who want to do everything possible to prep for moving day, it generally is a good idea to pick up snacks and beverages. Granola bars, trail mix and other portable snacks are ideal for moving day. Meanwhile, purchasing bottled water and other beverages is beneficial too.
If you need extra help with moving day preparations, you may want to consult with a professional moving company as well. A moving company goes above and beyond the call of duty to help individuals map out all aspects of the moving day process.
A moving company employs friendly, knowledgeable moving experts who can guide you through your move. Plus, the company can offer packing guidance, moving services and other support to ensure that you can seamlessly relocate to your new address.
Lastly, for those who will need to move soon, it may be beneficial to hire a real estate agent. This housing market professional can help you buy or sell a house in any city or town, at any time. Furthermore, a real estate agent is available to provide support at each stage of the homebuying or home selling journey. And if you are uncertain about how to proceed along the homebuying or home selling journey, a real estate agent is happy to provide plenty of assistance.