Moving expenses will include either gasoline or airfare, depending on the mode of travel, temporary lodging while traveling and moving in, if necessary, and the hire of a moving company, a truck rental or both. If some personal belongings are shipped by mail, there will also be shipping costs.Know More
All moving experiences are different, and they vary widely. Generally, moving farther away, particularly an international move, will be more costly than moving within town or to a neighboring county or state. For an international or overseas move, belongings can be shipped rather than being moved by the owner or a moving company. Depending on the number and type of belongings being shipped, this may require hiring a separate moving company in the country of origin.
Moving expenses incurred due to employment tend to be reimbursed by the employer, although some companies place restrictions on the amount they will reimburse. If the majority of furniture to be moved is large, bulky or not high quality, it will be cheaper to sell furniture before moving. This allows the person moving to use the proceeds to buy new furniture from a store close to the new location. This avoids some shipping and moving costs and may even yield a small profit.Learn more about Financial Planning
Some of the most common reasons for being broke stem from sudden, potentially unforeseeable situations, such as medical expenses, theft or uninsured accidents, that damage personal assets. As of 2014, medical costs cause the largest portion of personal bankruptcy filings, even with health insurance.Full Answer >
Purchasing long-term care insurance, converting assets into assets not counted by Medicaid and using existing assets to pay bills are three ways to reduce the strain of nursing home care expenses on personal assets, according to Bankrate. These strategies increase the likelihood of qualifying for Medicaid assistance with expenses.Full Answer >
Encumbered funds are monies that are intentionally set aside to pay for future obligated or planned expenses, according to the Business Dictionary. Although encumbered funds are not released until the payment for the future expenses is due, the funds cannot be used for anything other than their specified purposes, according to the State of New York's Office of the State Comptroller.Full Answer >
Although there are no laws restricting retirees from working after retirement, retirees should consider Social Security, income, expenses and health care before returning to work, explains Cheryl Winokur Munk for CNBC. The government reduces Social Security benefits for working retirees who are still under full retirement age.Full Answer >