Savings Day – Consider the Costs of Relocating
I recently met a couple that moved their family from LA to Nashville.
Financial benefits drove the decision to move. No state income taxes, much lower property taxes, and more home for the money. Both work remotely, so their income wasn’t impacted. They like the schools and culture but miss their family. Now if you’re considering a major move, ask yourself these questions:
• What’s the cost of moving?
• How does the cost of living compare to your current situation?
• What are income and property taxes like?
• Are local jobs available should you lose yours?
• What’s the cost of time and travel to maintain relationships with friends and family?
• Will moving negatively impact your children?
• Is the new environment family-oriented?
• What kind of support system will you be leaving and moving to?
• How is the education and health care system?
• Find out if the climate is one that you would enjoy.
• How about a church and Bible Study that you can quickly plug into?
Moving for financial benefits can be wise, but be sure the Lord directing the move. If you don’t have peace and if you and you and your spouse are not in agreement, then hit the brakes. Get the advice of your parents or wise, older people. Discuss it with your extended family. We’re seeing cases where parents are making the move with their adult children. The Bible says, “Plans fail for lack of counsel, but with many advisers, they succeed.” (Proverbs 15:22) Moving for financial reasons can be wise, but just consider all the costs involved.
Now many couples are struggling with credit card debt. If you’re one of them, I recommend Christian Credit Counselors. They’ll create a debt management plan that will work for you. For more information call the Crown Helpline: 800-722-1976 or visit online at crown.org/ccc.