Tejesh Kodali, New Jersey, Smart Financial Relocating

Relocating is a part of life. Whether it’s a move across town or a relocation around the world, at some point in every person’s life, they will need to take the plunge to relocate. However, along with the change relocation brings comes the cost of actually moving, especially if you have to purchase items for your new home.
Moving is generally thought to be an incredibly expensive process. Depending on how, where, and why someone is moving, the costs can certainly be high. Regardless of the general expenses associated with moving, it is possible to make the transition without breaking the bank.

Questions to consider before relocating

Relocating soon and trying to cut down on costs? Consider the following questions before making the move.

Is there a new job opportunity that you are excited about?

Many people find themselves relocating after accepting a new job opportunity. While this relocation may be a welcome change, it’s just as important to ensure that the job is something to be excited about and is actually worth relocating for. You can also check with your new employer to see if there are any moving costs they’ll cover.

Are there long-term benefits?

When considering a five-year plan, does this relocation make sense? Are there long-term benefits to making this move? Whether it’s for a job or some other reason, you need to think ahead and determine how this move helps you move toward your future plans.

Does the money make sense?

A new position usually comes with better compensation. However, in addition to an increase in pay, it’s necessary to determine if the cost of living is something one can live with. Any city you move to will have its own cost of living; do your research beforehand to make sure that your new salary is adequate for the cost of living in your new home.

Save money on your relocation expenses

Once all of the housing and moving expenses have been calculated, it is time to identify where to save the most money. While you’ll have to spend money while relocating, there are ways to make a move less expensive. Consider these following tips to make it less costly.

Ask if the new employer provides relocation assistance

Many companies do offer their employees relocation assistance. Oftentimes, this assistance comes by way of reimbursements for expenses like temporary housing, security deposits, home-finding trips, and the like. They might also simply give you a stipend to use toward expenses.

Downsize your personal possessions

Instead of taking all belongings to the new location, it’s better to save money by downsizing. Sell items, give away belongings, and throw away items that will never be used again. We all have belongings we do not actually need and are merely cluttering our homes; get rid of these items instead of having to take them with you.

Relocating is a complicated and time-consuming process. Use this guide to make the entire situation easier by saving money wherever possible.

About the Author

Tejesh Kodali is an entrepreneur with extensive experience in various industries. He's worked in Information Technology (IT), M&A, Finance, and Environmental industries for over 20 years. Tejesh has experience managing public and private companies and has a track record of success to attest to his skill. When it comes to growing businesses, Tejesh Kodali has displayed innate knowledge on the best way to help startups meet their goals and adequately grow. Tejesh is also passionate about alternative energy options and how these can be incorporated into smarter business practices and how we can promote sustainability to make the future a better place. He also greatly values the importance of mentorship and believes everyone can benefit from having a trusted, experienced advisor.