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5 Tips To Do Now If You Want To Move Out Of State

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Your location is keeping you broke!

 

Paying higher taxes, higher rent and higher cost of living.

 

Preparing for a move will ensure you do not accrue debt and you are making the best choice financially as you aim to reach financial stability.

 

Here are 5 things you can start doing now if you want to move out of state:

 

     1.Research the state you want to move to:

 

  • What is important to you?
  • What hobbies do you want to have?
  • Do you want to save on income tax?

 

Tax free states are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. This increase can make a big impact on your financial goals if you have a remote job and your salary does not change.

 

     2.Rent or Buy:

 

Are you looking to become a homeowner or rent?

 

Save for the deposit or down payment. Start getting clear on what that number is and break down how much a month you need to save. Even if you are not ready now but if you prepare you will be ready when a great opportunity comes around.

 

     3.Cost of moving:


Will you hire movers, use pods or do it yourself?

 

Start budgeting and saving for this cost. Perhaps you would like to hire movers but they are extremely expensive and it is not within your means to hire right now. You can opt to use pods which are a bit more affordable and hire two men from taskrabbit to load the pods for you. Getting clear on your moving budget will help you choose what method is right for you.

 

     4.Cultural difference:

 

Be ready to be shocked culturally! Start researching groups you can be a part of and connect before you move. You do not want to get to your destination and you are overwhelmed and can’t make plans to connect. Having a plan in place will allow you to show up with minimal effort. I want you to consider building your support group at your new location.

 

     5.Relocation budget or change in salary:


If you are moving due to a job, ask if there is a relocation budget. You can negotiate a relocation bonus. Make sure you understand what is included. Have clarity about how much it will cost to move to see if moving makes sense for you and your family.

 

Ask your employer if your salary changes if you move out of state. This is very important to note as you do not want to be surprised once your move is complete. In various instances salaries do not change and if you move to a state that does not charge state tax, this will result in an increase in salary.

 

A drastic change can be from CA to WA, where CA state taxes are one of the highest in the country.

 

I left California and moved to the evergreen state of Washington to reach my financial goals faster!

 

Which is odd because in my early twenties I refused to move out of San Francisco. I connected stability with living in the same home. Growing up we moved A LOT and for reasons we could not control like job loss and rent increases.

 

As I started to gain control of my finances in my late twenties, I started to see that I could choose the neighborhood I can live in. Growing up I moved out of necessity. Now, I can move because I want to improve my quality of life and explore a new state.

 

I started to dream of a life where it felt like a vacation everyday.

 

How moving helped me financially?:

 

My salary did not change and by moving to Washington State with no income tax, I automatically had over $1,000 salary increase monthly.

 

I am able to reach my goal of $100K invested, faster.

 

Husband and I were able to buy a home that would otherwise be out of reach in San Francisco.

 

There is time for adventure even when you are building your career and financial stability!

 

When we work together:

 

  • I help you compare your numbers in your current state/city to the new state/city.
  • I help you understand how you can make the extra income work for you.
  • I help you feel excited about your money plans so everyday can feel like a vacation.

 

Book a sales call here to chat on how we can work together and we can start getting your life to feel like a vacation too!

 

I cannot wait to meet you!

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ABOUT AUTHOR
Orlenda Cortez

Welcome to my corner on the internet! I’m obsessed with using money as a tool because it led me to pay off $30K in consumer debt in a year and a half, helped me save $20K in nine months to have my dream wedding in Costa Rica and is helping me build the life I never saw my family experience. Now I want to help others do the same!

Orlenda Cortez
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