Planning for Relocation Expenses
As graduation day approaches, if you already have a job to look forward to after donning your cap and gown, congratulations! You’re already ahead of the game. Now, the next step is figuring out the cost of relocation. If you’re moving to a different city for your exciting new job, you can count on having a variety of relocation expenses. Fortunately, many of them are tax-deductible–and your employer may help you out–but you will still need to budget accordingly.
As you’re searching for an apartment and trying to determine how much you can afford to spend each month, remember that you will likely have to pay an application fee up front. Once you sign your lease, many landlords will also ask you to pay your first or last month’s rent in addition to a security deposit, so make sure you have enough money in your bank account to cover the cost.
The Big Move
Once you’ve found the perfect apartment, it’s time to start planning your move. Unlike the days of moving back and forth between your college dorm and your parents’ house, you likely won’t be able to fit your entire life in a car. At the very least, you will need to rent a moving truck, and may even want to hire movers if you have a lot of furniture to bring. Don’t forget to account for the cost of boxes and packing supplies!
Cable and Internet
Even if you’re less reliant on your internet connection than most, the reality is that as a fully fledged adult, you’ll need to have access to the web in your apartment. Prepare to pay for the cost of installation in addition to a monthly bill. If you want to have a TV–and a full cable package to boot–prepare for the cost to go up.
One of the relocation expenses you will likely incur when moving for your new job is making sure you have the proper professional wardrobe. While it may have been acceptable to wear jeans and a sweatshirt every day during college, only having the one business outfit that you used for interviews is not going to cut it in the real world. Although the cost will vary depending upon the dress code in your office, expect to spend a fair amount of money filling your closet with professional clothing.
Whether you are moving to a new apartment solo or will be living with roommates, it’s likely that you will have to spend some money outfitting your space with the necessities. The cost of garbage cans, cleaning supplies, curtains and dishes can quickly add up, so be sure to include them when you’re calculating relocation expenses.
With all the stress of moving, we know you’ll be hungry! Don’t forget that one cost of relocation that can easily slip your mind: stocking your refrigerator. If you don’t want to eat take-out food for a week, plan on stopping at the grocery store on your first night in town.