Thinking About Your Finances Before Moving Out

How many times have you heard people stress the importance of saving before moving out? There is truth to this, and if you’re able to save before you move into your own place, we encourage you to. Between packing supplies, movers, and everything in between, moving can add up so it’s important to understand your overall moving budget and how to be prepared. Take the time to create the right moving plan that works best with your financial status.

Moving into a house or apartment in Jersey City, Lower Manhattan, Brooklyn, or anywhere in the New York or New Jersey Metropolitan area is no joke. It’s a lot of responsibility from rent to transportation, living in the tri-state area can become expensive. That doesn’t mean it’s impossible, it just makes it even more important to prepare yourself.

You should be as realistic as possible when it comes to moving. Will this be the first time you have your own place? If so, there’s a lot to think about but don’t worry, you can do it! These are our suggestions on the financial things to consider before moving out.

Have an emergency fund

It’s so important to have money stashed away in case of an emergency. You never know when things in life may pop up, so you’ll need to be prepared. Unexpectedly, you may have to spend money fixing your car or for a home repair. Before moving out, make sure you have some extra money set aside for a rainy day.

Experts suggest having 3-6 months in an emergency fund if possible. Find a way to manage your expenses, and you can contribute more to your emergency fund. The last thing you want to do is feel short on cash in the event of an emergency.

Determine your budget

Once you move out, your budget will become your best friend! There are so many bills you’ll be responsible for that you may not think about prior to moving. From Wi-Fi to utilities, these bills can add up so sticking to your budget is very important. Based on your monthly income, you’ll be able to determine what exactly you can afford.

The price of renting an apartment has been on the rise and has people deciding to leave New York City and settle in Jersey City instead. It’s just minutes outside the city and can give you more bang for your buck. Some of the more affordable areas of Jersey City include Liberty Park, Lincoln Park, and parts of Downtown. And if you do need additional storage, there are multiple StorageBlue facilities that can help.

Rent a cheap storage unit

We always say a storage unit is helpful for anyone moving, especially if you’re new to the area. It’s always nice to have extra space outside of your home to use as storage as you’re getting settled in. As you look at your finances, you might find you have a little extra money you can spare each month. Using this towards renting a storage unit can be a great decision.

Thinking about your finances shouldn’t be a stressful topic. Moving is exciting and if anything, you just want to make sure you’re prepared for what’s ahead. If you’re able to prioritize beforehand, it will help you have a smooth move. Residents who live in Kearny, Westfield, Bloomfield, Fort Lee, and all over come to StorageBlue if they’re looking for self-storage units. Check us out today in person, online, or over the phone to find out about our available storage units.