New National Survey Reveals Moving is a Money Nightmare
1 in 6 Moves Result in Debt Disaster; ½ say moving destroys relationships
May 18, 2015 // Franchising.com // May’s National Moving Month will kick off the busiest moving season in years as Americans are feeling good about finances again for two major reasons: A robust economy means companies are hiring and folks are heading back to work. Plus, people who foreclosed on their homes in the recession have waited seven years for their credit scores to come clean, and now can buy a home again.
However, while these new jobs, new homes and new moves are great for the economy as a whole, a recent survey suggests it’s a killer to individual wallets. This new survey, commissioned by Our Town America, the nation’s premier new mover marketing franchise, reveals 1 in 6 go into debt after a move. And nearly 1 in 2 (49%) respondents say their recent move caused serious financial stress, causing lasting friction with their partner.
The national survey of more than 300 men and women who have moved in the past five years reveals:
More Money Problems and Less Sex
- More than 3 in 4 respondents in a relationship said finances after the move were the #1 stressor in their relationship.
- And more than 1 in 3 (35%) say moving scarred personal relationships, citing financial strain (49%), increased bickering (51%) and decreased intimacy (49%).
Potential Debt Disaster
- 1 in 10 said that the average move costs $5,000 or more.
- Nearly ½ (46%) say they were on their own. Their company did not help pay for relocation.
In response to these startling statistics, Our Town America is stepping up to lend a helping hand to the more than 40 million Americans expected to relocate this year. Our Town America representatives from coast to coast are working with thousands of local businesses around the country to restore housewarming traditions by delivering personalized gift certificates for goods and services to new movers - minimizing the financial burden as they settle into their new homes.
“These survey results show that it’s critically important for neighbors and local businesses to welcome new movers to town with open arms,” says Our Town America President & CEO, Michael Plummer, Jr. “The emotional and financial stress associated with moving takes a heavy toll on new movers. They desperately need a helping hand to limit stress, minimize costs and feel comfortable in their new home.”
Our Town America delivers welcoming packages direct to new mover mailboxes and each package is a personalized housewarming gift full of free products and services from local businesses. Research shows once the new movers try the business, they repeatedly revisit that business due to the initial warm welcome and free gift.
“This survey shows new movers need and appreciate this welcome package, especially after receiving minimal help from their loved ones throughout the moving process,” says Plummer.
The survey also reveals:
Friendly Neighbors Would Relieve Financial Stress
- More than half (53%) of the respondents said that today’s neighbors are not as friendly as the neighbors they remember as a child because they “seem too busy.”
- 88% of respondents said that receiving a housewarming gift would make them feel more comfortable in a new home/neighborhood, yet less than half (46%) have ever received a housewarming gift when new to a neighborhood.
- 81% of respondents said they would have liked advice about their new community upon move in. 93% say they would take advantage of an offer from a local business that took the time to welcome them to the community.
We can set up interviews with people who just moved to our area and new mover experts to talk about the costs associated with moving. They will provide tips and tricks to help this year’s movers minimize their financial stress.
*Please cite Our Town America as the source for this survey.
*This online survey of 306 men and women was conducted by a third party and commissioned by Our Town America.
*Survey participants have no affiliation with Our Town America.
About Our Town America
For more than 40 years, Our Town America has been providing new movers with traditional hospitality by mailing warm housewarming gifts from local neighborhood businesses in a premium welcoming package. Since the company started franchising in 2005, Our Town America has consistently been placed in the Franchise Top 50, ranking #8 in 2010 for franchisee satisfaction.
One of the catalysts for this success has been Our Town America's dedication to the “sponsor exclusivity” concept, meaning they will only recommend one of each business type in any specific zip code. Our Town America allows their sponsor businesses to target only the zip codes they’d like to reach, whether that is as small as one or as large as the entire country. An innovative pinpoint tracking system is also integrated within Our Town America's program providing valuable data intended to be utilized to tweak and refine current marketing efforts. Additionally, Our Town America's unique program makes it possible for their sponsor businesses to reach a new, susceptible audience every single month - avoiding wasted coverage.
Due in large part to Our Town America’s devotion to those concepts, thousands of satisfied business owners throughout the United States attest to the success and effectiveness of the program. Additionally, dozens of locally owned franchises validate Our Town America's concept as a viable business opportunity.
It is Our Town America’s mission to assist new movers adjusting to their community, help businesses gain new and loyal customers and provide franchisees with an excellent opportunity. The eight million households who received Our Town America's welcome packages over the last year prove that Our Town America is committed to following through on that mission statement.
For more information, visit the Our Town America website at www.ourtownamerica.com.
SOURCE Our Town