Whether you’re a student or a young professional, moving to a new city like Hyderabad can be one of the most important and exciting phases of your life. And one of the most expensive too. Because while you’re super happy and nervous to become a real adult in charge of your own life, you’re going to have to handle a lot of financial decisions as well. And we haven’t even factored in the actual cost of moving yet. Worried? Don’t be, because we’re here to help. Here are some tried and tested tips to help you actually stick to your budget while moving to a new city.
How to ensure that you stick to your budget in a new city? Have a realistic budget. And that will only happen if you do your research about the cost of living in Hyderabad pretty well prior to moving. Compare it with your current living costs and see how you plan to pay for the difference. Since housing is likely to be the biggest chunk of your budget, see if you can choose the most affordable option, whether it’s by opting for a flat further away from the city centre, choosing to live with roommates or opting for a hostel or PG instead. Find out the best options for students and young professionals in the city and adjust your budget accordingly.
Organise your belongings
Moving costs money. If you want to pack up everything you’ve ever owned and take it with you to Hyderabad, it’s going to be unnecessarily expensive. Instead, you need to organise and prioritise. If you’re moving to a furnished apartment, you probably don’t need a lot of homeware items, which will reduce the need to hire professional movers and your expenses too. As for your personal belongings, save yourself time, money and effort by segregating through them for items that you no longer need or use. Discard them if they’re no longer usable or try to resell them for some extra cash that will come in handy while moving.
Have two different budgets
The biggest mistake you can make is planning for your move all in one go. Instead, you need to have two separate budgets in place – one for the actual moving process and one for the expenses that you’ll need to incur once you’re in Hyderabad. Planning for the two separately will ensure that you don’t forget any expenses and will give you more of a financial buffer in case of emergencies. Remember that you’re likely to have very different costs in both cases. If you’re hiring packers and movers, your moving costs will be a lot higher than if you choose to do the entire thing yourself. And in the city, you’ll probably be expected to pay a security deposit and the first month’s rent in advance before you move in. It’s only once you have these costs ready that you can start planning for your living expenses in the city.
Make smart spending decisions
It probably goes without saying but if you’re looking to make your move to Hyderabad without straining your wallet, you need to make some smart spending decisions. It would be a lot more affordable for you to opt for a hostel or PG which would cost less and provide you built-in amenities than to live on your own. But if you’re still set on a flat, choose one with roommates or in a managed housing provider like Stanza Living so that you can minimise your expenses. When it comes to the moving process, make sure that you make your bookings early, so that you can avoid paying rush fees. Negotiate your rates with the moving company beforehand so that they don’t add extra charges at the last minute. You could even choose to forego a traditional moving company, pack up your own belongings and have them couriered to your new home instead. This often works out a lot cheaper if you don’t have a lot of furniture or heavy items to move.
With these moving tips, you’ll be able to stick to your budget when it comes to moving to a new city like Hyderabad and make smart financial choices too. So, go ahead and put them into practice and all the best for your big move.
Alicia Saville did her degree in psychology at the University of Edinburgh. She is interested in mental health and well-being.
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