Why Using a Personal Loan for Job Relocation is a Good Idea? - MoneyTap Blog
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Why Using a Personal Loan for Job Relocation is a Good Idea?

Are you planning on relocating to another city?

Relocating is a time consuming and expensive process with the moving costs mounting quickly with added strain on you and your family. Moving far away can lead to higher costs in transportation, even if you choose to do it yourself.

Even though you may have an emergency fund stashed away, it is not advisable that you dig into it unless you have an absolute crisis on your hands. So why not opt for MoneyTap’s quick and easy personal loan to help you move without breaking the bank or liquidating your emergency funds instead?

Whether you hire professional movers or opt for a DIY choice, your moving expenses are significant which is why it’s important to plan your move out carefully.

Here are 6 relocation expenses that you will face:

1. Professional Packers and Movers

If you have decided to work with professional movers, then it is best to do a survey and gather the written estimates of several movers before you choose one. You should compare the estimates to zero in on a moving company that provides the best value. Remember that the figures quoted to you are usually not binding estimates and the actual final costs usually tend to exceed the figures you have been quoted.

2. Moving Supplies

If you choose to DIY, you will need to buy some moving and packing supplies such as boxes, bubble wrap, tape, labels, markers and insurance. You will also have to purchase food, drinks and gratuities for your friends and family, who are helping you out with the move.

3. Transfer Charges

Transferring your vehicles to your new place of residence may incur transfer and maintenance charges.

4. Travel Fare

If you are planning on moving across the country then long-distance travel fare can include the air/bus/train fare, hotel lodging, petrol and toll tax and well as preventative vehicle maintenance. Long distance moves can also increase your costs in the form of utility and security deposits or a host of other odds and ends which are involved with relocation.

5. Rent and Down Payment Expenses for Your Apartment/Home

You will have to pay a down payment on the apartment that you are planning to rent and refurnish it if need be. You may be required to pay the apartment application fees, security deposit, pet deposit (if applicable), first month’s rent and utility deposit.

6. School Admission Expenses

You should also take your children’s education into consideration if you are planning to shift with your family. This will include the fact that your children will have to gain admission into a school in whichever place you are shifting which can add further strain on your expenses.

There are a lot of advantages to getting a personal loan as it allows you initiate the process of shifting immediately-even if you don’t have the money to move up front. Apply for a personal loan with MoneyTap and make your move a lot easier. MoneyTap’s personal loan allows you to pay and clear your old bills which will help in giving you a fresh start at your new location. Having enough money to move comfortably can make all the difference between a great moving experience and a stressful one.

Want to ease the burdens and concerns associated with relocation? Apply for a personal loan with MoneyTap. Download the app now!

MoneyTap

India’s first app-based credit line, MoneyTap is a Bangalore based business that lends money with flexible interest rates, making credit quick and easy.

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