I’m Moving to My Dream City Without Getting Into Debt. Here’s How

I’ve been living in Austin, Texas for eight years now, and as hard as it is to say, I’m ready to let go.

I moved to Austin for college and never thought I’d want to leave. It’s a great city with relatively affordable housing, access to outdoor green spaces, and an unrivaled music and arts scene. It’s easy to get around without a car (I ride a moped) and you can barely walk a mile without falling into a body of water, which is probably what I love most.

Despite the positives, it’s time to chase my dream of living in Seattle. Before you ask me about the rainy weather, I haven’t seen rain in months, so sign me up. I also really miss a city with reliable public transportation, and Seattle fits that criteria.

As a 20-something Gen Z juggling student loan debt and high rent costs, I know that saving money to move out West will require a solid budget and a ton of discipline. Luckily, I’m a personal finance writer with great expert advice on how to balance paying off debt with saving money.

How I Budget for Moving West

I had been loosely considering moving to Seattle for a while, but after my last visit this summer, I knew it was time to start planning my move. I sat down and crunched the numbers, asking myself the most obvious question: Can I Really can you afford it?

Specifically, how much will the trip cost me and how much will I spend on accommodation?

To do this move on my own without taking on any debt (and to have some cushion just in case), I’ll probably need to save $10,000. Since I don’t work a tight schedule, I think I can do it comfortably within two years. Here’s how I broke down my moving budget:

Tips for smart financial planning before moving

Everyone has different motivations for moving, and different economic and family circumstances. Regardless of your situation, you should still consider how much cash you realistically need for your move and how you can manage it logistically.

✍🏼 Calculate your moving budget

You don’t want any unexpected expenses to pop up during your move. The hardest part is figuring out a rough estimate for your savings goal. Think of it as a puzzle and answer these questions:

• How much will it cost to ship or transport your belongings, or hire a moving company?
• If you fly, how much will you need for a plane ticket? If you drive, how much will you spend on gas?
• What is the average cost of a one bedroom or studio apartment? How much will you need for your first month’s rent and a security deposit?
• What other costs might there be? Think about hidden costs such as building fees, internet services, water, gas and electricity connections, etc.

🏦 Set up a sinking fund for moving expenses

A sinking fund is basically a savings account, but you’re putting money aside for a specific purpose. This method separates your goals so that your sinking fund (in this case, your moving fund) doesn’t get mixed up with your emergency fund or other savings goal.

Keeping your funds in a high-yield savings account will help you take advantage of better interest rates. In a high-yield savings account that earns compound interest, you don’t just earn extra money on your initial deposit. Your interest also earns interest, which accelerates your savings.

💰 Save as much as possible (automatically)

Once you’ve created a budget and opened a high-yield savings account, it’s time to start saving. Set up automatic recurring transfers to move money into your savings account on a schedule that works for your finances. I like this method because it holds me accountable. You’ll never have to deposit money manually, which eliminates the possibility of you backing out and saying, “Hmm… maybe I’ll skip this month.”

Every two weeks, a small portion of my paycheck is automatically transferred to my savings account. I also save about 50% of the money from my side job as a dog sitter. With regular contributions, I’m on track to double my savings by the end of the year.

⏱️ Plan your move strategically

Since I work remotely, I have the flexibility to move whenever I want, which allows me to avoid peak moving season. Summer is typically the busiest time for long-distance moves, so I plan to move later in the year when costs are more reasonable.

If you don’t have this option or you are moving for work, ask for moving subsidies and check what time of year is best to move to a new place of residence.

🏋🏽‍♀️ Ask your friends and family for help

Leaning on my social network is key to staying within your moving budget. My older brother already lives in Seattle with his partner, so I have the advantage of two extra sets of hands and a place to crash temporarily. Look for house sitting options that can help keep costs low if you need a soft landing before moving to a new place.

🚚 Don’t hire professional movers

Hiring professional movers to pack up your belongings, load everything into a truck, and move you across the country is probably the most efficient (and expensive) way to move. Take some time to research the cheapest and safest ways to transport your belongings.

I’m taking the DIY approach. Don’t tell my parents, but I’ve already recruited them to join my moving team. I plan on buying a shipping container instead of hauling my stuff in a moving truck. Depending on the distance of your move and the amount of square footage you need to store your stuff, you’ll probably spend less by buying a moving container or renting your own moving truck.

✂️ Cleansing, cleansing, cleansing

If it doesn’t stir up any particular emotions in me, it won’t come with me to Seattle. I plan to sell a bunch of stuff, including a random Nixon camera that’s been collecting dust in my closet and a large armoire I inherited from my previous roommate. I also have a few things I won’t part with, including a green velvet couch and an antique cast iron bed frame.

As the time approaches to move, I’ll have to make some tough decisions, especially about my trusty moped. Austin is a great city to rely on a scooter for, but Seattle will make it harder.

What to look for as a new tenant

I am a long way from being able to buy a home, so I am a serial renter. Like the real estate market in general, the rental market is expensive and competitive. Don’t settle on one zip code, as you may need to widen your search based on availability and affordability.

In addition to planning your budget and increasing your moving fund, consider the following before moving to a new place:

• Improve your credit score. If you’re a first-time renter or have limited credit history, you may need a co-signer to secure an apartment. Know your credit score before you start your apartment search to avoid unnecessary obstacles.
• Find out what the landlord expects from you. Your landlord will want a security deposit and the first month’s rent, as well as proof that you can afford rent beyond that. Factor these costs into your initial budget.
• Consider long-term costs. In addition to recurring expenses like utilities and Wi-Fi, parking can often become a costly, long-term expense. If you have a car, it’s worth factoring in parking costs, as well as insurance and maintenance.
• Organize your documents. If you organize your documents ahead of time, you can speed up the rental application process. Gather recent pay stubs, bank statements, and a copy of your photo ID before they get lost in the moving abyss.
• Decide if you need a roommate. Splitting rent, utilities, and Wi-Fi can significantly reduce your financial burden. Keep your budget in mind before deciding what size apartment you need and whether you need to find a roommate.
• Start looking for places early. If you don’t have temporary housing secured, you may need a place to live before you land in a new city with your belongings. Set a timeline to start researching the market once you have the funds. You can work with a real estate agent or an apartment rental app to find something within your target time frame and price range.

Read more: 6 Gen Z Tricks to Save Money When Rent Is Too High

What’s next?

My current apartment in Austin is the first “adult” place I’ve lived since leaving my parents’ home. As I begin to piece together my next chapter in Seattle, I realize that not everyone can afford to save up money for a long-distance move, but I don’t want to start my life in a new state with moving debt.