by Semify
If you’re looking to make a move to Tennessee in the near future, there are some things to keep in mind about your money and finances. Depending on where you’re coming from, the cost of living may be a more positive thing for you. Keep reading to see what you need to keep in mind when making that move to Tennessee.
Cost of Living
Compared to the rest of the country, the state of Tennessee has a cost of living that’s lower than the national average, even in the larger areas where the cost of living may be higher. There are low property taxes found throughout this state, and you have the option to choose really rural properties and suburban properties. In addition to property taxes, there are lower costs for daily expenses and utilities found throughout the state. If you’re maintaining an average salary, you’ll end up saving money by making this move in terms of cost of living.
Visiting the grocery store and other areas for shopping is something that you’ll find to be cheaper. Most items in stores are cheaper, and you can find a variety of things throughout the state. These deals that are made for in-store purchases only are great because, according to Fohlio, 73% of purchasing decisions are made in-store anyway.
No State Income Tax
One of the greatest things about the state of Tennessee is the lack of state income tax for residents. All you have to file is the federal taxes, but the rest of the taxes that are brought into the state come from sales tax. Tennessee has several areas that generate a lot of sales taxes due to the tourism industry. One of the most visited National Parks, the Great Smoky Mountain National Park brings in millions of visitors to East Tennessee each year, which makes it easy to fund the state without income tax.
Free Community College
If you have children that you’re taking with you to Tennessee, consider the option of free community college. This will help with your money and budget, which can be a great idea to help get your kids introduced to the college lifestyle at a discounted cost. They can take these courses when they’re fully enrolled or right after graduating. The tuition at public institutions is also pretty affordable, and some of the best in the country.
Fines For Jail Time
If you do happen to get arrested after moving to Tennessee, however, you will feel it in your money and finances. They are known for having fines on their sentencing and use that as a way to fund local governments. In Tennessee, a DUI 1st conviction will have a mandatory 48 hours in jail, a $350 fine, 11 months and 29 days of probation, the loss of your license for 1 year, and alcohol education classes, so make sure you aren’t drinking and driving on Tennessee highways.
Sustainable Recycling
In many parts of the state, Tennessee has moved to sustainable recycling, with recycling centers available for residents in rural areas to use at no additional cost. If you don’t want to have a monthly trash pickup, you can use these options and save money on your monthly expenses. According to Environment America, each American throws away around 4.9 pounds of trash per day, and that is close to the same amount being tossed out in Tennessee. These recycling centers make it easy to be sustainable and offer a greener lifestyle for all residents.
If you’re planning to move to Tennessee for family, work, or just a change of scenery, you will find that you may have more money at the end of the year and it’s a good move all in all. Whether you’re looking to move to the East, West, or middle of the state, there are lots of great towns with great cost-of-living and benefits that will make it worth your while to move.
So, what do you think ?