Key Factors to Consider Before A Move - Accounting Accidentally

The world is living through unprecedented times. Don’t let the pandemic or the rapidly-paced news cycle sidetrack your financial goals. Regardless of what is happening “out there”, it is vital that you continue on the path to financial independence and have some fun along the way.

Setting your financial goals is a crucial element when considering your living situation. There are many questions to consider, such as the following.

What are your budget limitations, if any? Do you have any obligations or financial constraints to factor into your decision? How can you prepare your financial affairs?

Will a move impact your career? Or are you moving for your job? Can you work remotely, as so many people are doing during the pandemic? Is your employer paying relocation costs? Or, can you write off the expense of moving yourself?

Are you looking to change locations? Frequently, your location factors heavily into your life plans and future ideals. Would you prefer to stay in your current location or move a little further into the city or the suburbs? What about proximity to local travel destinations or a major airport for domestic and international travel?

What size of home or apartment are you looking for in your next stage in life? Perhaps you’re looking for a large forever home with the proverbial white picket fence. Maybe you’ve already had that, and it’s time for something smaller with a beautiful view that you’re not tied down to daily. You might be in that place in life where you’re merely looking for something different. Furnished flats for rent are a smart option for any stage of life.

At some period in your life, you may look to the convenience and ease of a well-appointed flat. This change could significantly impact your bottom line, as there will be no yard or maintenance concerns for the outside of your home, consequently saving you both time and money.

The laborious task of arranging for and then moving furniture will be non-existent, thus no longer requiring claim forms and appraisal appointments for damages. Additionally, amenities such as a swimming pool, gym, or gathering areas could further save you time on maintenance, which will free up even more valuable time for personal enjoyment.

After you make your life-improving move, ensure your fiscal responsibility goals remain on track. Transfer your renters insurance to your new location. If you’ve gone the fully furnished route, make a note of that in your policy, as well. Factor in any items you decided to sell, donate, or pass on beforehand. Take note of the donations for when you file your taxes.

The more you know about your financial situation, the better prepared you will be to enter a new place in your life – both literally and figuratively. A new home, be it a flat or a house, is an exciting adventure.

Personal finance is essential. Stay the course, and seek assistance from trusted sources if you need extra support and guidance. Enjoy your life and all of the unexpected and beautiful experiences that come your way.

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Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) https://www.accountingaccidentally.com/

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