How do I get by without borrowing money from my folks?

Dear Grace,

I’m so worried about life lately. My husband and I are planning to move back to my hometown after living the last few years in a relatively big city. I am excited to see my family, but still really nervous about the expense of moving. We’re moving because the cost of living will be cheaper in my hometown and hopefully give us the chance to pay off our debt. My family has already lent us money and we really don’t want to ask for any more. Do you have any advice for how to make this work?

– Headed Home from Houston

Dear Headed Home, 

Let me say one thing loud and clear: moving is stressful! Your concerns around getting settled in your hometown—both the finances and logistics—are totally reasonable. Between moving costs, putting down a new deposit on a place to live, and travel, the bill really adds up. The good news is, it sounds like your move is already one big step towards financial stability. Here’s a little advice to help you out:

Forecast your budget. While no one can perfectly predict the future, you can anticipate lots of your big budget items for the next few weeks leading up to and following your move. For instance, you can estimate the cost of renting the U-Haul, first month’s rent and security deposit, consistent bills (like cell phones and wifi), payments on your debt, and any other big purchases you’ll make (couch, mattress, TV. . .).  Getting a sense of the total cost of the move will help you plan it out so that you avoid needing any help from family. One thing I’ve learned as an adult, Headed Home, is that surprises are expensive. 

Spend smarter. When it comes to managing a tight budget and expensive life transition, every little bit counts. One of my favorite resources for easy ways to save money is WorkMoney—they have tips for how to save on everything, from groceries to housing to debt. Take a look at their website and see which programs you’re eligible for—you may be surprised by how much you can save. Some programs operate nationally, state-wide, or even on a local level. Don’t miss out on a chance to get the support you need.

Press pause. As you’re preparing to move back home, consider ways that you can trim down your expenses for the time being. One easy way to do this is pausing subscriptions—think Netflix, Hulu, or even a monthly gym membership. Free apps like RocketMoney let you view all your subscriptions in one place and easily pause or cancel with a single click. Think about your monthly costs that you could live without for a while (again, this is just temporary!), and you’ll find yourself with a little extra cash on hand to help pay for packing materials, movers, and the odd expense along the way. 

You’re not the only one feeling the squeeze, Headed Home. Many of us are having to make hard decisions thanks to rising rent and the cost of groceries. It’s not fair that people who work hard full-time are still struggling to make ends meet, but despite how difficult things feel right now, I’m hopeful that it’s going to get easier. Inflation and interest rates are coming down this year, which will take some of the pressure off all our wallets. Hang in there!

Sending my love, 

Grace