Budgeting for a Family Move: Financial Tips for Parents

So, you’re preparing your family to move. Whether that means settling in a new city a few miles away or seeking greener pastures on the other side of the country, you’ll want to do your homework to ensure a smooth, seamless transition for everyone in your family. 

No move goes cleanly without a solid plan, and every plan starts with a budget. Your moving budget will help you determine what services you can afford, chart your course of travel, and avoid overspending on things you don’t need.

These tested tips will help you create (and stick to) a moving budget that covers all your needs, ensuring you feel stress-free and confident as you wave goodbye to your old neighborhood.

What to Include in Your Budget

Moving can get expensive, especially if you have children. To ensure you stay within your budget and don’t accrue unnecessary costs, you’ll want to outline your expenses before planning your move.

Here’s what you need to include in your budget:

Moving Company and Expenses 

Renting a truck and moving yourself often seems like an attractive option for saving money, but the DIY route may cost more in the long run. Every cost along the way, from the rental fee to insurance, gas, mileage, etc., is yours to cover, as is the responsibility of safely transporting all of your belongings. When you partner with a moving company, however, all expenses and risks are covered. You don’t need to worry about the myriad costs of travel or paying for items that accidentally break while in transit. 

When researching moving companies, look for customizable plans that only charge for the services you need. This can save thousands of dollars over the course of your move. 

Travel Expenses 

When tackling a long-distance move with family, you’ll need to consider the cost of hotel stays, flights or gas for your upcoming road trip. If you’re driving, consider mapping out your trip ahead of time and booking hotels that meet your needs (pet-friendly, etc.). Factor in food and pre-trip maintenance costs and set aside some money for emergency repairs while on the road.

If you’re moving to the other side of the country and plan to fly, book your flights well in advance and account for auto-shipping services. 

Moving Supplies

Once you’ve decided how you’ll reach your destination, it’s time to start planning for packing. As you shape your budget, account for the cost of tape, boxes, labels and packing paper. Before you start packing, take inventory of your belongings to estimate the number and type of boxes you’ll need. This will help you avoid overbuying while keeping your family organized.

If you have leftover cash in your packing budget, consider buying specialty boxes to keep certain belongings safe in transit. Popular specialty boxes include mattress boxes, wardrobe cartons and mirror boxes.

Temporary Storage Solutions

Long- or short-term storage units can be great for families downsizing from a home to a condo or trying to avoid clutter in their new homes. Most storage units have an upfront and monthly fee. Here are some tips to organize a storage unit as you prepare for moving day.

Child Care

Little ones can be surprisingly underfoot when you’re packing or coordinating the logistics of moving day. If a family member can’t help watch your kids, consider hiring a babysitter or dropping them off at daycare to buy yourself a few productive hours. You may also need someone to watch your kids for a few days after you move into your new home while you unpack and set up appliances. 

Moving Insurance 

Insurance coverage provides peace of mind as you transport your valuables and belongings. If moving yourself, this is an additional expense to consider. Many moving companies include insurance in the cost of the quote — something to look for when doing your research. 

Utility Setup Fees 

Let your gas, water, electricity, TV and Internet services know about your relocation at least 1–2 weeks before the move. Some companies will transfer your services with no additional charge, while others may require a new deposit or setup fee. 

Tips for Budgeting for a Family Move

Moving with kids can be challenging and expensive. The best way to ensure your little ones enjoy a smooth transition without breaking the bank is to take a proactive approach to your upcoming expenses. 

Here are some tips for staying under budget and improving the process for everyone involved:

Start as Early as Possible 

The earlier, the better. The closer your moving day gets, the more difficulty you’ll have finding the right moving company or packing efficiently. When you start early, you have time to compare prices and find the most affordable options that align with your needs.

Look for Ways to Reduce Expenses

Once you have a plan and a budget, you can start looking for ways to reduce your everyday expenses. Easy ways to save money (or even make a little) during a move include:

• A yard sale (or two)
• Get moving boxes from local stores
• Donate or dispose of items you no longer need
• Use what you already have as packing material (clothes, towels, blankets, bedding, etc.)
• Cancel subscriptions you no longer use (newspaper, local gym membership, etc.)

Compare Costs for Moving Companies 

When you start early, you have more time to compare quotes, look for discounts, and save money on moving expenses. Starting early may also allow you to pick an advantageous time of year (winter is less expensive than summer). Always shop around for prices and compare the costs of services. You’ll also want to read the fine print to look for hidden fees before signing anything.

The price you’re quoted should be the price you pay. Look for moving companies with a solid track record of integrity and fair pricing (they do exist!).

Have a Budget for Miscellaneous Expenses

You never know what might happen during the moving process. Whether you need more packing supplies than you budgeted for or something breaks in transit, a small emergency fund will help you stay within your budget and maintain your peace of mind. 

Plan, Prepare and Budget for Your Upcoming Move 

Moving is never easy, especially when you have kids or pets to worry about. But when you do your homework in advance, you’ll find little trouble staying on time and under budget. It is possible to achieve a seamless relocation without breaking the bank!