Cost-Benefit Analysis of Moving Expenses

moving

By: Ms. J

We are moving this weekend. BOOO!! I mean it’s great and I am happy for the move, but I am not happy about the moving process. As much as I love to travel, I don’t like to pack and unpack for the trip, so imagine how I feel about this move.

Initially, I wanted to hire movers to do the work even though we were only moving 15 minutes away; however that idea was scratched now that it is crunch time. Why did we forego the movers? What is the cost benefit analysis of this decision? Let’s find out.

First, take inventory of the items you will be moving before deciding whether or not to use a mover. Will you be moving all of your items to the new place? Do you see yourself donating items to charity or throwing things away during this move?  (Note: This is the best time to get rid of the old items you are not using.) For us, the items that will be moved to the new residence are reasonable to handle with help from close family and friends. For example, we are moving 1 ½ bedroom sets, living room and dining room furniture along with our personal items. It seemed more cost efficient to rent out a UHAUL truck and spend the day moving it on our own. Yes, we may struggle a bit as some items are bulky but we are 3 strong women who can do anything.

Second, calculate how far you will be moving. If you have a lot of things with little help, it might be best to hire a mover. If you are moving somewhere close by maybe you do not need to hire help. Overall, it all depends on your comfort level both physically and financially in determining where you can eliminate the excess fat in your moving expenses.

Third, when are you moving out? Most people might not realize this, but your timing in moving can affect your cost. For example, most people usually move at the beginning or ending of the month, which may cause an increase in price for movers or rentals as it is the busy time. How about moving mid-month? Demand will be reduced greatly for this option, thereby decreasing your chances to contend with others for moving services.

MOVING EXPENSES Analysis

Movers Do-It-Yourself
Paying $400 for movers Paying $50 for UHAUL truck
Fast and Efficient Slow
Hired enough for the size May not have enough help
Tip Pizza and wings as payment to family and friends
You will have more energy to get things done Tiring

 

What do you value most? For me, it’s the ability to save a ton of money during this move by doing it myself. I would rather invest the money that I would spend on the movers for home decor or furniture. Even though,  I will be exhausted by the time everything is finished with,  I planned to take the day off on Friday to kick start the process.

Whichever way you choose to organize your moving process, make sure you still have money set aside for emergency purposes during this time.

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