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Money Management Tips for People Who Move a Lot


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Last Updated on August 17, 2022 by Corinne Schmitt

This is a sponsored post written by me on behalf of Navy Federal Credit Union. All opinions are 100% mine. Navy Federal is federally insured by NCUA.

When you move a lot, it’s important to manage your money wisely. This means budgeting your expenses and being smart about where you put your money.

Here are a few tips for managing your finances when you relocate frequently:

Create a Budget

When you’re moving a lot, it’s important to create a budget. This will help you stay organized and keep track of your expenses.

Budgeting will help make your day-to-day life easier as well as provide you with stability when you move.

Once you have a budget, be sure to stick to it! This will help ensure that you don’t go over budget when moving.

Consider Your Expenses

When you’re moving, there are a lot of expenses to consider. You have to think about the cost of hiring a moving company, packing supplies, and gasoline for the trip.

If you’re driving a long distance, you’ll also need to factor in hotel stays and food costs. And don’t forget about the cost of your new home!

There may be closing costs, down payment requirements, and monthly mortgage payments. It’s important to plan ahead and budget for all of these expenses so you can move without breaking the bank.

Enroll in Digital Banking

One of the best ways to stay on top of your finances when your address changes often is to manage your money digitally. Digital banking allows you to access your financial accounts from anywhere at any time.

You can easily check balances, transfer money, freeze cards, and even deposit checks right from your phone or computer.

As long as you take precautions like setting up two-step verification and using secure connections, digital banking is just as safe as traditional banking and far more convenient. Just be sure to take precautions to protect your identity and accounts.

Use a Moving Checklist

Whether you’re moving across town or across the country, there are things you need to do to make the move go smoothly. I like this straightforward, general moving checklist.

If you want a more detailed checklist and timeline, this one from Real Simple is terrific. It covers all the important tasks without being overwhelming.

Avoid Common Moving Scams

There are a lot of scams out there when it comes to moving. Here are a few of the most common ones to avoid:

  1. Fake moving companies. There are companies that will offer to move your belongings for a great price, but then never show up or worse, steal your belongings. Make sure to do your research and only use reputable companies.
  2. Packing and unpacking scams. Some scammers will offer to pack your belongings for you, but then demand a large payment once they’re finished. They may also unpack your belongings and leave with some of your possessions. Be very careful when hiring someone to pack or unpack your belongings.
  3. Unscrupulous movers. Some movers will promise one price but then charge more once they’ve loaded up your belongings.

In conclusion, moving can be a very stressful time, but with some careful planning it doesn’t have to be bad for your finances. By following the tips in this article, you can make moving less expensive and save money on your move.

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