Monday, August 23, 2010

Moving? Make sure you identify savings opportunities right away

If moving, especially in with someone, be sure to take advantage of savings opportunities as soon as possible.  And, such as in the case of services one must either change or cancel with a move to another city, such as phone, cable, or insurance coverage, there may be a whole list of potential savings available to you that didn't exist before.

Case in point: if consolidating households, make sure that no one is still paying for renters insurance on an old residence. Instead, add the new resident to your policy right away and cancel the old one. While this may seem obvious, it would be easy to forget about one's pre-existing coverage while contemplating a new policy and the options you may need. Do this: call up your old company, see if they can't match or beat the price for the policy you will be getting on and then dump them if they can't.  You can always change a policy, but if you are paying for both a new policy, and an old one, then you are wasting money.

Similar advice can be given for cable and telephone (wireless) service.  Moving to a new area might mean new provider opportunities that didn't exist before.  Rather than listen to your old cable company whine about getting you to transfer, and not cancel, your service, see if a new company can give you a new customer rate.  Same with the wireless company.  And, with wireless, it may be cheaper to get a "family" plan than to pay your old rate.

Coupon opportunities also exist for moves.  As mentioned previously, the U.S. Postal Service provides a packet of coupons to companies like Home Depot, Best Buy, and Lowes Hardware just for moving. 

Finally, if moving for a job, you may be able to write off moving expenses, provided you meet the criteria.  This IRS topic from their website helps you to figure out if you are eligible for that.

Bottom line: moving can provide many new opportunities for savings, which can take the bite out of the cost and hassle of doing so.