One of the biggest mistakes people make when deciding to move is around what they can 'afford' in their new home rent or mortgage payment forgetting how much it actually costs to physically move from one place to another (as well as the other implications such as gas to get to work if you are further, home improvements, etc). As a Ramsey Master Coach, I have helped clients determine whether it's a good time for them to move financially, given your debt to income ratio and what the long term implications could be if you make the wrong move too soon.
Financial coaching is all about you. It’s about understanding your current situation, whether a move makes sense and developing an action plan to help you win with money both pre and post move. In the digital course, we'll do a few exercises to determine when a move makes sense and all the other stuff you should take into consideration when deciding to move.
It's really hard to predict the hard and soft costs of a move. There are a lot of unknowns that can come up and whether it is making decisions around where to get the sturdiest boxes, hire movers or DIY your move- we need to start by figuring out whether or not it makes financial sense to leave your current situation at all. I'm trained to take all things into consideration, help you work it into your budget and prepare you for the best/worst case scenarios.
Plus, we'll do some fun calculations around how much your time is worth and whether you should have a garage sale or not. Pricing out how to get there is usually an after thought but logistically speaking, how you get your family of 5, 2 dogs and a few cars to your final destination without breaking the bank is just as important to plan for!
Take the budget number you have in your head for how much it will cost to move and add 30%. 20% at a minimum.