Financial planning tips for anyone moving to Tennessee

Country music, southern hospitality, whiskey, and BBQ food - these are just some of the most well known draws of the state of Tennessee. So, if you’re moving there sometime soon, then you have plenty to do and see. Whilst in the grand scheme of things, Tennessee is an affordable place to live in the US, you still need to take your finances into consideration when moving anywhere. So, here we are going to take a look at financial planning tips that can make your move to Tennessee that little bit easier. Read on for more. 

Making a living

When you make your move to Tennessee, the likelihood is that you’ll have to find yourself some work. There are plenty of different industries for you to consider, as it’s a state with plenty going on, especially in urban areas such as Memphis or Nashville. You may even want to consider setting up your own business or looking into work from home options, as these could end up being more fruitful for you. However, you must be aware of all the admin and setting up tasks involved with this, should you choose to pursue it - for example, you’ll need to apply for your Tennessee federal tax ID number. If you wanted to simplify any of the financial admin tasks that you find yourself in, you could even consider hiring a remote accountant to smooth out the process. 

Plan, plan, plan

Wherever in the world you’re coming to Tennessee from, if you put enough research and planning into how to get here and what to do when you arrive, you’ll be fine. With careful consideration, you’ll be able to make the best financial decisions and end up saving money. This could be through comparing travel options as well as how to get your belongings from A to B. There is a lot for you to think about and to try to sort out before, during and after your move. Here are some things for you to add to your checklist if they apply:

  • Getting a Tennessee driver’s license and registering a vehicle
  • Insurance - this could be for health, your home, pets etc.
  • Finding a vet for your pets and registering them
  • Finding a school for your kids
  • Ensuring all of your personal taxes are set up properly for the state of Tennessee

…and so on! There’s a long list of things to check off, so the earlier you can start getting organized, the better. This will ensure that you avoid any costly issues further down the line, as you should be able to do things in the most affordable way, without the risk of a fine (which could be the case if you get any of the legal stuff wrong).

All in all, if you put the time in to figure out how you’re going to make a living when you’re in Tennessee, whilst also living within your means and finding a place that you can afford, all should go swimmingly!