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Manage Online

Utilizing your bank’s online account access makes it simple to manage your money during relocation, especially if you have Direct Deposit. You can transfer funds between accounts, make loan payments, and view statements whenever it’s convenient for you.

Pay On Time the Easy Way

Signing up for online bill paying before you move, with a service from your bank or individual accounts, helps ensure your bills will be paid on time, especially if you set up some automatic payments. That way you won’t have to wait for your mail to catch up with you at your new home. Also, don’t miss important mail or checks. Download and fill out a Change of Address form from usps.com/forms a month before your move and return it to the post office.

Find the Free ATM’s

Know where fee-free ATMs are located in your new neighborhood. Ask your bank or go online to find branches or CO-OP ATMs in your area, and prevent expensive surcharges.

Save Receipts for Taxes

If your move is job-related and your employer is not paying for your relocation, your move may be tax-deductible. Save all relevant receipts from movers for packing supplies, services, and so on. Consult IRS Publication 521 online at irs.gov/publications for more information.

Protect Retirement Assets

If your move involves changing jobs, one of the most important decisions you’ll make is what to do with your 401(k). Since cashing out your account means paying taxes and stiff penalties, it makes the most sense to continue saving for retirement. Most people have three options. First, if you’re eligible to participate in a 401(k) at your new workplace, you can roll your savings over into that plan. Be sure that the disbursement check is made out to the new plan administrator in order to avoid tax issues later. Another option is to leave your savings in your previous employer’s plan. Many companies will let you leave your money in their plan as long as you have a balance of $5,000 or more. The final option is to roll your money over into a Rollover IRA.

Check Car Insurance Costs

Your premiums may change. Call your insurer at least a month ahead of time to outline your situation and ask what you need to do. Plus, not all insurers do business in every state. If you’re moving across state lines, find out whether your car insurance is still valid or whether you’ll need to switch carriers.

Shop Early, Be Specific

Compare prices—get estimates from several professional movers a month or more in advance before choosing one. Most people prefer to move on weekends, so be prepared with a backup date in case your first choice isn’t available. Be very specific when telling them how much you have to move, as underestimating can end up raising the cost. Try to be the first move of the day, as movers tend to schedule a few customers every day. If you’re last on their list, they may arrive late—and tired, which could result in longer loading times and higher labor charges. If you’re moving yourself, reserve a truck or van well in advance, after you’ve compared prices.

Pack Less, Pay Less

Pare down your belongings to reduce the cost of the move, and to possibly get a tax break. Donate gently worn clothes and furniture to a thrift store or charity. Ask for a receipt, which can come in handy when filing for deductions. A good rule of thumb: If you haven’t used it in more than a year, get rid of it.

Organization Pays

Label your boxes, especially those with fragile items, and keep a running inventory of what’s inside. You can direct the movers to put your boxes in the right place at your new home, and you may be able to deduct broken items from the bill.

Last-Minute Details

Call ahead to set up utilities in your new place and to schedule a shutoff at your old home. If you have children, find out which documents you’ll need to register them for a new school. Finally, pack a box of essentials for your first night or two to get you and your family off to a great start.

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