When moving to your dream city costs you your financial freedom

As someone who is only five years out of undergrad and has already packed up her whole life three times to make moves across the country, the planning and commitment involved in such an undertaking financially is an old friend of mine.

At every stage of your life you will be faced with financial decisions; whether it’s to make a cup of coffee at home or quickly stop in to grab your double grande skinny caramel latte or taking the plunge of homeownership after years of renting. For those of us faced with the need to switch up our hometown every two years, or if your career has you leaving home for the first time, the financial burden that comes with a potential move is often not a topic given a lot of thought when discussing finances. Retirement, sure! You know you have to start planning for that, but a move? How much can that be? The answer: a lot more than you think.

As demonstrated in the article “When Moving To Your Dream City Costs You Your Financial Freedom” By Abby Stauffenger, she reminds us that it is really easy to get caught up in the exciting part of a new move and ignore the financial toll it’s taking on your bank account. However, as it’s taken a move or two for me to learn, with a healthy balance you can move to your dream city and still be able to check out the new sights all around you. You may just have to start setting the timer on your coffee maker at home for a bit to do so.

 

Will moving cost your financial freedom?

Brittany Spillner, ZT


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