If you're making a long-distance move or going from a rural area to an urban one - or vice versa - you may encounter a significantly different cost of living around your new home. Adjusting to lower or higher prices for everything from pizzas to home improvement supplies can be difficult if you're not prepared. Take the following advice to heart to help your transition:
Do your research ahead of time
Whether your cost of living will go up or down, it's important to plan ahead and account for the change sooner rather than later. There are several useful cost-of-living difference calculators out there, like the one offered by CNN. This particular tool goes the extra mile of breaking down differences in five major categories - groceries, housing, utilities, transportation and health care.
That additional information means you can get a more detailed picture of how far your money will go once in your new location. If you're moving due to a corporate relocation, you can also consider talking to employees at the office you're moving to for some information about how costly things are in that area.
Make a budget
"It's always a good idea to have a budget on hand."
It's always a good idea to have a budget on hand, something to track your regular expenses and help you understand what goes toward bills, savings, disposable income and other factors. When you move to a new area or region, a budget is even more important.
Seemingly slight changes in everything from the price of gasoline and electricity to groceries and gym memberships affect how much money you have at the end of each week, month or other pay period. Getting as much information as you can ahead of time and consistently plugging in additional data as it becomes available is vital.
This approach means you have a good handle on how much you're spending, and makes adjusting easier as well. Whether it means giving up a few luxuries, finding alternatives near your new home that are less expensive or even reallocating savings in an area with a lower cost of living, a strong understanding of your regular bills and other costs is vital.
Adjusting to a new cost of living always requires some work, whether it's higher or lower. These two pieces of advice can make sure you start off your time in your new home on the right foot.