Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,962.11
    +30.13 (+0.38%)
     
  • Bitcoin USD

    70,944.96
    +1,824.54 (+2.64%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,250.66
    +2.17 (+0.04%)
     
  • Dow

    39,759.45
    -0.63 (-0.00%)
     
  • Nasdaq

    16,384.35
    -15.18 (-0.09%)
     
  • Gold

    2,239.90
    +27.20 (+1.23%)
     
  • Crude Oil

    82.66
    +1.31 (+1.61%)
     
  • 10-Yr Bond

    4.1890
    -0.0070 (-0.17%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

How to Cut Your Moving Costs in Half

May through September is the most popular time of year to move, due to warmer weather, leases ending and houses going on the market. If you're one of the many preparing to move soon, you might think it's going to cost a fortune, especially because prices for moving services will spike due to larger demand. But that doesn't have to be the case.

Here is a step-by-step guide to significantly reduce your moving costs:

Create a budget:

Just like any major purchase, create a budget first to help you stay on track with your spending. Read through everything you will need to spend money on, estimate your costs and give yourself a limit of what you can afford.

ADVERTISEMENT

Sell your stuff:

Before you decide how you are going to move, pare down on your possessions. Have a yard sale, list your items online and then donate whatever is left over. This strategy will put some money in your pocket and save you the cost of moving stuff you're only going to sell later.

Decide on your movers:

The biggest decision you will make for your move is whether to do it yourself or to hire professionals. If you're really on a budget, you will likely want to handle the move on your own and rent a truck. However, if you are pressed for time and feel you could really use the help, talk to the pros. Don't be afraid to haggle, and compare at least three estimates from different companies. You can do this over the phone or online for a general idea, but the most accurate estimate will come from a representative visiting your home and doing a formal assessment.

If you decide to do the move yourself, you can cut costs here as well. Before booking a truck, make sure you speak to a representative or read reviews to find out which size is best for your move. Renting a truck that is too big means you will spend unnecessary dollars, where a truck too small creates the risk of needing to make multiple trips (and spending a lot of money on gas). Before you agree to insurance coverage on the moving truck, check with your own provider to see if you're protected.

You will need help that day -- make sure your friends, family or neighbors don't regret taking a day off and reward them appropriately. Cook everyone a nice dinner after the move, order pizza or give out gift cards. You can find discounted gift cards online at websites like Cardpool.

Gather your materials:

Packing materials can be a huge expense, as well as wasteful. Try as much as you can to use recycled boxes; you can check liquor, grocery and department stores and even your neighborhood on recycling day. Put out a request at your workplace a few weeks in advance to save all old boxes for your move.

For packing your fragile items, use your own linens and towels to wrap them. Collect newspapers and bubble wrap where you can find it. If you have a lot of fragile items or don't have the luxury of time to hunt down recycled resources, buy your materials online rather than waiting to get them in a store. You'll be able to compare prices and find coupon codes and discounts much easier that way.

Prepare for moving day:

If you don't have off-street parking at your new home, avoid unwanted fees or parking tickets by requesting a permit in advance for your moving truck. Put together a duffle bag or box of items you will need on your first night in your new home, which will save you money and stress caused by running out to buy things last minute, or digging endlessly in boxes.

Get savings later:

When you change your address, look for great coupons in the mail from area stores like Home Depot and Lowe's. Also, hold on to all your moving-related receipts for claiming during tax season, and label them with the purpose of each purchase.

I hope this list of costs to consider and avoid will ease the stress on you -- and your wallet -- this moving season!

Jon Lal is the founder and CEO of coupons and cash back website BeFrugal.com, which saves shoppers an average of $27 per order thanks to coupons plus an average of 7 percent cash back at more than 4,000 stores.