Yusra3
VIP Contributor
Relocating to a new home can quickly become expensive once you factor in costs like hiring movers, renting a truck, purchasing packing supplies, and more. If you don't have enough cash saved up, here are four options to cover your moving expenses:
1. Relocation Package from Employer
If you're moving for a new job, see if your employer offers relocation assistance. Many companies provide lump sum payments or reimbursement plans to help cover reasonable moving costs for transferring staff.
2. Low-Interest Credit Card
Using a 0% APR credit card for initial moving expenses can provide an interest-free funding option for 12-18 months while you pay it off gradually. Just ensure you can fully pay before the introductory period ends.
3. Personal Loan
An affordable personal loan from a bank, credit union or online lender can finance larger moving expenditures that you repay over a set term, typically 1-5 years. Good credit helps qualify for lower interest rates.
4. Gifts from Family
For those with sufficient income to eventually repay, borrowing sums from family with no interest can provide low-cost short-term funding if available. Just be sure to discuss terms upfront.
With some creativity and planning, there are several ways to remove the financial stresses often associated with a big move between homes.
1. Relocation Package from Employer
If you're moving for a new job, see if your employer offers relocation assistance. Many companies provide lump sum payments or reimbursement plans to help cover reasonable moving costs for transferring staff.
2. Low-Interest Credit Card
Using a 0% APR credit card for initial moving expenses can provide an interest-free funding option for 12-18 months while you pay it off gradually. Just ensure you can fully pay before the introductory period ends.
3. Personal Loan
An affordable personal loan from a bank, credit union or online lender can finance larger moving expenditures that you repay over a set term, typically 1-5 years. Good credit helps qualify for lower interest rates.
4. Gifts from Family
For those with sufficient income to eventually repay, borrowing sums from family with no interest can provide low-cost short-term funding if available. Just be sure to discuss terms upfront.
With some creativity and planning, there are several ways to remove the financial stresses often associated with a big move between homes.
