Moving And Money: What You Need To Know
My mother has moved 13 times in her adult life. After I graduated from college, she gave me some wise advice. She said, “Erin, in your early 20s, all your belongings should fit in the back of a car.”
Five years later, I have embraced my mother’s mantra. I keep my living space minimal, or as I call it, “recently-robbed chic.”
However, life phases change. Most of us will not always live with just a few belongings we can quickly pack into a car. So, when the time comes to move, how can you keep costs low?
Purge, purge, purge (and maybe make a buck or two)
The more stuff you own, the more expensive the move. It’s that simple. Before you start the move, get rid of clothes you barely wear, gifts you never use, and those books you keep just to look smart.
Once you have only the items you want to keep, it is time to decide how to move them. You can rent a van and ask friends for help, perhaps offering pizza as a reward for their hard work. You can also donate your belongings, which sometimes earns you a tax deduction.
Should you DIY?
Once you have only the items you want to keep, it is time to decide how to move them. You can rent a van and ask friends for help, perhaps offering pizza as a reward for their hard work.
DIY moving can be a straightforward option for local moves. However, relocating across the state or country often necessitates hiring professionals. While this choice is efficient, it can also be costly and fraught with risks. It is essential to be cautious to avoid hidden fees or the potential loss of your belongings.
How to find movers
Begin by reaching out to your network of friends, family, and co-workers. Ask them for any recommendations for good moving companies.
Once you have a few options, verify the companies on trusted websites. Check sites like the Better Business Bureau®, Angie’s List™, and MovingScam.com™. You can also Google the name of the company with the word “scam” and see if it comes up with any hits.
Do not be too quick to finalize a contract with a moving company. It is in your best interest to spend some time comparison shopping and collecting quotes from several verified companies.
Study the contract
Please review the contract with your moving company carefully. This will help you understand how you will be charged. You don’t want to find out later that the moving company had a bunch of fine print fees.
Oftentimes times the weight of your shipment and the distance of your move will determine your moving fee. Ask your movers if the estimate is “binding not-to-exceed” or if it’s non-binding. Non-binding means you can get upcharged if the weight is higher than you listed. You also need to know if tariffs (small fees) will be charged. You can ask to see a list of fees the mover will charge, and most reputable movers will provide a copy.
Be prepared if (when) something gets damaged
Just like checking the price of the move, you should also understand the liability coverage your moving company offers if a valuable gets lost or damaged. Companies often provide coverage based on the weight of your shipment (e.g. paying 50 cents per pound of item broken) or on the assessed value of your belongings. Obviously, the latter is ideal, but it also comes with an additional cost and more work for you.
Don’t forget to itemize your belongings and cross-reference the estimated value you’ve attributed to items with the one the moving company created. You’ll need this information for the claims process after the move is complete.
Keep valuables on your person
The last things you want “falling off of the truck” are your family’s passports, birth certificates, Social Security cards or treasured family heirlooms that have been passed down for five generations.
Keep these valuables on you during the moving process instead of risking them being lost among your less important tchotchkes.
Don’t forget about renters’ or homeowners’ insurance!
Once you’ve survived the move, the last thing you want to do is leave all of your valuables unprotected at your new pad. Make sure you have renters’ insurance or homeowners’ insurance to help protect your stuff!
