Slash Your Moving Costs With These 6 Simple, Smart Strategies
You've finally found the perfect place, but now comes the dreaded part: moving. After spending thousands on a down payment or rental deposit, it's only natural to look for ways to cut costs during the move.
While some expenses -- like gas or a moving truck rental -- are unavoidable, there are plenty of ways to save. For example, you don't need to spend a dime on moving boxes or bubble wrap. Below, we'll explain how you can pack up and move your belongings without breaking the bank.
For more moving tips, here's how to safely lift heavy boxes and furniture. Also, check out the best moving companies for 2025 and six common moving day mistakes to watch out for.
1. Get rid of things you don't need
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Before you start packing, take time to sort through your belongings and decide what you no longer need. That old phone you've kept for years? You could sell it on a site like Decluttr and put the money toward your move.
Still hanging on to those hand-me-down blankets your mom gave you a decade ago when you moved into your first apartment? It might be time to donate them to a thrift store or pass them along to a younger relative.
The more you declutter, the fewer boxes you'll need, and you might even be able to rent a smaller, cheaper moving truck as a result. Plus, selling valuable items can help offset some of your moving expenses.
2. Consider a DIY move to save loads of cash
Paying someone to help you move can easily double the cost of an already expensive venture. Depending on where you live, movers may charge nearly $200 an hour. Instead, call in some favors and ask your friends and family to help you pack your things. The more people you can find to help, the less time you'll spend wrapping your plates in newspaper.
If you have any friends with trucks or trailers, now would be a great time to ask if they could help you transport your stuff -- assuming you're not moving across the country.
Borrowing a free truck could mean you don't need to rent a moving truck. Truck rentals usually won't cost much up front, but you still have to pay a fee per mile and supply the gas.
Save money by asking friends and family to help you move.
Zooey Liao/CNET
3. Opt to move midweek or during the off-season
That's pretty specific, isn't it? While you may not always have full control over your moving date, choosing the right time can save you money. Peak moving season runs from May through summer, when lots of students are moving post-grad, which also means higher prices for moving services.
If you have flexibility, consider moving during the off-season, anytime from fall through early spring. It's typically more affordable.
It's also worth noting that weekdays are usually cheaper for hiring movers or renting a truck. Weekends tend to come with higher rates due to increased demand.
4. Strategize for free packing supplies
Why pay for boxes when you can get them for free? Use a social media site like Nextdoor or Facebook Marketplace to ask people in your neighborhood for boxes. People are usually happy to get rid of boxes they've had lying around, waiting to be recycled.
Speaking of recycling, check with your local recycling center to see if they have any boxes you can take for free. Those Amazon boxes you get every week can also be reused.
What about bubble wrap? You can skip it. Use items you already have in your house to protect your fragile items. For instance, you can wrap your plates and glasses in towels, pillowcases or clothes -- thick socks are great for small valuables. You can also protect your stuff from breaking with layers of grocery bags.
Something you will likely need to purchase is packing tape, but it's a necessary expense, especially when you don't have to pay for any other packing supplies for your move.
5. Get quotes from several moving companies
If you absolutely need to rent a moving truck or hire professional movers, check around and get quotes from multiple companies. Some may offer lower per-mile rates or a cheaper base rate for renting a moving vehicle.
If you're opting to go with a moving company, to get a better idea of the price you'll pay, don't let them give you a ballpark estimate of how much your move will cost you. Take the time to get a photo inventory of the things you plan to move and let them give you an assessment based on that. From there, get the quote in writing so you have something to show them if they try to charge you more than what you were initially quoted.
If you book and prepay early, you may even be able to get a lower rate -- especially if you're planning on packing up during peak moving season.
It's possible to save money on moving expenses.
James Martin/CNET
6. Plan well in advance
If you know a move is on the horizon, start planning several months ahead. Getting an early start can help you lock in the best rates for moving trucks and professional movers, and gives you plenty of time to shop around for deals on supplies. Packing nonessential items early also spreads out the workload, making the days before your move far less stressful.
Ready for even more moving tips? Here's how to clean your new home before you move in. Also, here are some tips to make your new house feel like home.
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Refinance Rates Tick Higher: Refinance Rates for June 6, 2025
Average mortgage refinance rates have been volleying between 6.5% and 7% as fears of both higher inflation and an economic slowdown play tug-of-war with financial markets. Overall, rates are too high for most homeowners to save money from refinancing. After three interest rate cuts last year, the Federal Reserve has left rates unchanged in 2025 to assess the economic fallout from President Trump's policies on trade, immigration and government spending. While the Fed is expected to resume lowering interest rates this summer, a major refinancing boom is unlikely if average rates stay above 6% — which most economists and housing market experts predict. However, if you're looking to change the length of your loan or switch to a different type of mortgage, refinancing might still be something to consider. Keep in mind that mortgage refinance rates change daily based on a range of economic and political factors. For expert predictions on where rates might be headed, check out our weekly mortgage rate forecast. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. Today's refinance rate trends At the start of 2025, many expected inflation to keep cooling down and the Fed to cut interest rates, which would have gradually lowered mortgage refinance rates. However, stronger-than-expected inflation and uncertainty about Trump's economic policies have changed those predictions. Even with some brief dips, mortgage rates and overall financing costs have remained stubbornly high. Investors are concerned that the president's plans for widespread tariffs, mass deportations and tax cuts could significantly increase the government's debt and fuel inflation while also driving up unemployment. What to expect from refinance rates next year Most housing forecasts still call for a modest decline in mortgage rates by the end of the year, with average 30-year fixed rates potentially edging below 6.5%. But even when the central bank resumes policy easing, experts say homeowners shouldn't expect rates to fall in tandem with the Fed's benchmark federal funds rate. While the central bank's policy decisions influence how much consumers pay to borrow, the Fed doesn't directly control the mortgage market. For refinance rates to fall meaningfully, we'd likely need to see several Fed cuts coupled with clearer signs of a slowing economy, like cooler inflation or higher unemployment. It usually takes time for these broader interest rate adjustments to show up in the rates lenders then offer to consumers. Refinancing 101 When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you'll tap into your equity with a new loan that's bigger than your existing mortgage balance, allowing you to pocket the difference in cash. Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it's the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly. But refinancing your mortgage isn't free. Since you're taking out a whole new home loan, you'll need to pay another set of closing costs. If you fall into that pool of homeowners who purchased property when rates were high, consider reaching out to your lender and running the numbers to see whether a mortgage refinance makes sense for your budget, said Logan Mohtashami, lead analyst at HousingWire. How to find the best refinance rates The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates. 30-year fixed-rate refinance The current average interest rate for a 30-year refinance is 6.84%, an increase of 6 basis points over this time last week. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term. 15-year fixed-rate refinance For 15-year fixed refinances, the average rate is currently at 6.15%, an increase of 2 basis points from what we saw the previous week. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you'll save more money over time because you're paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run. 10-year fixed-rate refinance For 10-year fixed refinances, the average rate is currently at 6.13%, an increase of 12 basis points from what we saw the previous week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment. To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don't forget to speak with multiple lenders and shop around. Reasons you might refinance your home Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance: To get a lower interest rate: If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.
