Moving is a huge deal which affects many aspects of life at one go, and it is an expensive undertaking, too. No wonder that managing your finances can become more challenging with a move coming up in plain view. It is essential that your financial domain is in order so that you can confidently proceed with hiring movers, renting a truck or getting a self-storage arrangement. Experts from Expomovers.com would like to share with a couple of methods on how to manage your finances before moving.
#1 Collect ALL your financial documents
Usually, your finance-related documents are all over the place and soon enough you might need them to confirm one thing or another. There is no better time to collect those documents from all the dusty corners of your soon-to-be old home and have them all categorized. When the moving days arrives, pack them all together in a file box or a robust plastic tote.
#2 File your financial documents and mark the folders clearly
Get a hole puncher, a bunch of dividers (one for each month), some ring binders, and get to work allocating your financial documents into your predefined groups. Mark the spines clearly with the contents and the year. Continue this practice when you move into your new place allocating each new document as it arrives and is paid. Keep the financial folders in a clearly visible and accessible place, such as a dedicated shelf or a cabinet.
#3 Keep an organizer for recording your incomings and outgoings
For entering your financial logs, you can use a notebook or even go digital with finance or note-taking apps. You will be awarded for doing so both short term and in the long run. If you are disposed to missing payment deadlines, go an extra mile and set up alerts on your mobile phone to prompt you on paying the bills five days in advance of their respective deadlines.
#4 Start a tracker for installments and recurring payments
The bullet journaling enthusiasts have plenty of smart layouts for that. Principally, this will help you keep track of the dates the bills recur and the amounts you need to make sure you have. With sufficient practice, allocating the money in advance and clearing your bills on time is achievable and realistic. As we all know, it is easier said than done, but start enlisting everything you need to pay, either on a monthly or weekly basis.
#5 Clear the unpaid bills
This cannot be emphasized too much. The resulting improvement to your credit score will be your reward. The more you pay down, the easier it will be to obtain new financial resources, a new rental or a mortgage once you move. If you are capable of clearing any loans or credit card balances, it will help in the longer run with paying mortgage fees and the growing cost of regular utilities bills such as electricity and gas.
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