How I'm Budgeting for a Long-Distance Move Without Going Into Debt

I'm ready to break up with Texas.

I moved to Austin eight years ago and never thought I'd want to leave. It's a great city with relatively affordable housing, access to outdoor green spaces and an unparalleled music and arts scene. It's easy to get around without a car (I ride a moped) and you barely have to walk a mile without running into a body of water, which is probably what I love the most. 

Despite the upsides, it's time to chase my dream of living in Seattle. Before you ask me about the wet weather, I'll say it's one of the many reasons why I want to leave Texas. We haven't seen rain in months. I'm also really craving a city with reliable public transportation, and Seattle checks that box.   

As a Gen Zer in my 20s juggling student loan debt and high rent costs, I know that saving money to move West will require a solid budget and loads of discipline. Luckily, I'm a personal finance writer with great tips from experts on how to find a balance between paying off debt and saving money. 

How I'm budgeting to move West

I've casually considered relocating to Seattle for some time, but after my most recent visit this summer, I knew it was time to start plotting my move. I sat down and ran the numbers, asking myself the most obvious question: Can I really afford this? 

More specifically, how much will it cost to get there, and how much will I spend on housing? 

To pull off this move by myself without accumulating any debt (and to allow for some financial padding just in case), I'll probably need to save $10,000. Since I'm not working on a tight timeline, I figure I can do that comfortably in two years. Here's how I broke down my moving budget: 

Tips for smart financial planning before a move 

Everyone has different motivations to move and has different economic and family circumstances. Still, no matter what your situation is, you'll want to consider how much cash you realistically need to move and how you can logistically manage it. 

✍🏼 Calculate your moving budget

You don't want to be hit with any surprise expenses during the moving process. The hardest part is coming up with a ballpark figure for your savings goal. Think of it like a puzzle, and answer these questions:  

How much will you need to ship or transport your stuff, or hire movers?

If you're flying, how much will you need to buy a plane ticket? If you're driving, how much will you spend on gas?

What's the average cost for a one-bedroom or studio apartment? How much will you need for the first month's rent and security deposit? 

What miscellaneous costs might arise? Think of some hidden costs like building fees, internet service, water, gas and electricity hook-up, etc. 

🏦 Start a sinking fund for moving expenses

A sinking fund is essentially a savings account, but you're putting aside money for a specific purpose. This method keeps your goals separate so your sinking fund (in this case, your moving fund) doesn't get mixed up with an emergency fund or other savings goal. 

Storing your moving fund in a high-yield savings account will help you capitalize on better interest rates. In a high-yield savings account that earns compound interest, you aren't just earning extra money on your initial deposit. Your interest also earns interest, therefore accelerating your savings. 

💰 Save as much as possible (automatically)

Once you create a budget and open a high-yield savings account, it's time to start saving. Set up automated recurring transfers to move money into your savings account on a schedule that works for your finances. I like this method because it holds me accountable. You won't ever have to deposit funds manually, removing the possibility that you'll back out saying, "Hmm… maybe I'll skip this month." 

Every two weeks, a small portion of my paycheck is automatically transferred into my savings account. I also set aside about 50% of my side hustle cash as a dog-sitter. By adding money consistently, I'm on track to double my savings by the end of the year.  

⏱️ Time your move strategically 

Since I work remotely, I have the flexibility to move whenever I want, allowing me to dodge peak moving season. Summer is typically the busiest time for long-distance moves, so I'm aiming to move later in the year when costs are more reasonable. 

If you don't have flexibility or you're moving because of your job, request a moving stipend and research the best time of year to relocate to your next location. 

🏋🏽‍♀️ Enlist help from friends and family 

Leaning on my social network is key to staying within my moving budget. My older brother already lives in Seattle with his partner, so I have the advantage of two more sets of helping hands and a place to crash temporarily. Keep an eye out for housesitting opportunities, which can help keep costs low if you need a soft landing before moving into your new place. 

🚚 Don't hire professional movers 

Hiring professional movers to pack your things, load everything in a truck and move across the country is probably the most efficient (and most expensive) way to move. Take the time to research the cheapest and safest ways to haul your stuff. 

I'm taking a do-it-yourself approach. Don't tell my parents, but I've already recruited them to be my moving team. I plan to get a shipping container rather than haul my things in a moving truck. Depending on the move distance and the square footage you need for your belongings, you'll probably spend less getting a moving container or renting your own moving truck. 

✂️ Purge, purge, purge 

If it doesn't strike a particular emotion, it's not coming with me to Seattle. I'm planning to sell quite a bit of stuff, including the random Nixon camera that's been collecting dust in my closet and the bulky armoire I inherited from a previous roommate. I also have some pieces I won't part with, including my green velvet couch and vintage rod iron bed frame. 

When the time to move gets closer, I'll have to make some tough decisions, especially regarding my trusty moped. Austin has been a great city for relying on a scooter, but it will be more challenging in Seattle.  

What to consider as a new renter

I'm nowhere close to being in a position to buy a home, so I'm a serial renter. Just like the housing market overall, the rental market is costly and competitive. Don't get set on one ZIP code because you might have to broaden your search based on availability and affordability. 

In addition to budgeting and growing your moving fund, consider the following before you relocate to a new place:

Improve your credit score. If you're a first-time renter or have a limited credit history, you may need a cosigner to secure an apartment. Know your credit score before starting your apartment search to avoid unnecessary roadblocks. 

Know what your landlord expects from you. Your landlord is going to want a security deposit and the first month's rent, as well as proof that you can afford rent beyond that. Factor these costs into your initial budget. 

Consider the long-term costs. Aside from recurring expenses such as utilities and Wi-Fi, parking can often become a costly long-term expense. If you have a car, it's worth factoring in parking costs as well as insurance and maintenance. 

Get your documents organized. If you organize your documents in advance, you can expedite your rental application process. Gather recent pay stubs, bank statements and a copy of your photo ID before these documents get lost in the moving abyss. 

Decide if you need a roommate. Splitting rent, utilities and Wi-Fi can significantly reduce your financial burden. Keep your budget in mind before you decide what size apartment you need and whether you need to find a roommate. 

Start searching for places early. Unless you have temporary housing lined up, you might need a place to live before you land in your new city with your belongings. Establish a timeline to start scoping out the market once you have the funds. You can work with a realtor or a housing/rental app to help you find something within your target date range and price point. 

Read more: 6 Gen Z Hacks for Saving Money When the Rent Is Too High

What's next?

My current apartment in Austin is the first "adult" place I've lived after leaving my childhood home. As I start piecing together my next chapter in Seattle, I recognize that not everyone has the luxury of saving money before making a long-distance move, but I don't want to start my life in a new state with moving debt.