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How To Better Assess Your Financial Situation After A Relocation

How To Better Assess Your Financial Situation After A RelocationIt is important after a big move to make sure that you are taking the time to sit down, look over your income and expenses, and determine what you can do to save money. You might have already done this a while back, but it is vital that you are doing it again after a big move. The reason for it?

Well, to be honest, what it costs to live in one state may be completely different than what it costs to live in another state. Some things might be more expensive while you may be able to get a savings on other things. It is about examining all of your expenses again, reworking your budget, and determining how you can make the best possible use of the cost of living that you now have.

Saving Money Before Relocation

If you have not yet actually moved, but are simply starting to assess your new financial situation so you can be well prepared – that’s great! Not only will you have the chance to give yourself the best shot at saving money once you move, you can start saving money during the process of moving.

While you certainly will not be able to relocate everything free of charge, you can cut down on the costs of moving. Start by limiting the number of personal belongings that you have to move with you. Simply throw out or donate the things that you really do not need anymore. This will result in fewer boxes, less packing tape, and a smaller moving truck.

Consider Your New Utility Choices

If you are lucky enough to move to a state where most of the market is deregulated, like Texas, you will have the chance to shop around for your energy supplier. This might be a lot different than what you are used to, especially if you never had the chance to check out different suppliers, such as Green Mountain electricity.

When you have the option to shop around between different utility companies, you will have a much easier time finding quality service for an affordable rate. The reason is because there is now true competition, so utility companies have to work hard to not only get your business but to keep it. This can save you a substantial amount of money over the course of a year.

Food Costs

Besides the cost of utilities, the cost of food is another one of those things that can be drastically different from one state to the next. For example, some states may have cheaper fresh produce because of a lot of it is grown right there in that state. This is a savings that you will want to include in your budget.

However, if you are moving to a state where a lot of the produce that you eat is not grown, you may find that you are going to spend much more money. This is because everything has to be shipped in, which raises the cost of everything that hits the shelves.

This is also the time when you need to think about other ways to lower your grocery bill. This can be done through meal planning, shopping sales, and locating local farms or farmer’s markets that can give you fresh foods for a more reasonable price.

Is this going to take a lot of work to figure out? No, but it might take a little bit of time. However, once you have figured out the new cost of living for where you are moving to and how you can make the most of the resources available to you, you will find that it is much easier to keep up with.

 

Are you planning on a relocation soon? What else can you think of to help make a relocation go smoothly?

 

Photo courtesy of: MIH83

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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