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More from Invest in You: Melissa Bradley wants to help people of color jump start their businesses These 4 steps can help reduce financial stress caused by Covid-19 What it takes for Black girls to become leaders, according to Michelle Obama And, states including Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming have no income taxes. If you have lower pay, you may be in a lower marginal tax bracket. Moving from a high-tax state to a low-tax one could also be a big benefit, Meinhart said. Cost of living calculators such as NerdWallet's can help break down some of your potential savings. You can save considerably on rent, mortgage or even property taxes if you're moving from cities such as San Francisco or New York to a suburban area according to Meinhart. "For most people, this is housing, vehicles and taxes," he said. Start with the biggest-ticket items first, said Meinhart, a certified financial planner.

Once you know this information, you should sit down and outline your current monthly budget, then compare how costs might change in another location. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower federal government or the use of trade, firm, or corporation names are for the convenience of the user and do not constitute an official endorsement or approval of any private sector website, product, service, or privacy policy.Best Debt Consolidation Loans for Bad Credit The above links are for informational purposes only and in no way constitute an endorsement, expressed or implied, by the Department of State. Available in hard copy by subscription or at your neighborhood newsstand.Primarily designed for businesses, but has useful tools for individuals.Moving Gracefully: A Guide to Relocating Yourself & Your Family
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