I'm moving houses and plan to cut my 401(k) contributions by 5% for two years to cover my expenses. Is this risky?

The promotion comes with a raise, but she expects that will be offset by the higher cost of living in her new city. So she doesn’t have a lot of wiggle room after expenses, which includes contributing 10% of her salary to a 401(k).

To help pay for the move, she’s thinking about reducing her contributions by 5% for two years. Her employer offers a full match up to 6%. Ashley isn’t sure this is a good idea, but she also doesn’t want to take out a loan and go into debt, either.

How much does it cost to move?

A long-distance move can cost anywhere from $550 to $12,000, with most people spending between $2,389 and $6,867, according to Home Advisor. Typically, a relocation of 400 miles or more is considered a long-distance move.

How much it will cost depends on the size of your home. A one-bedroom could cost up to $3,000, while a larger three-bedroom house could set you back $8,000.

For long-distance moves, professional movers usually charge by weight instead of by the hour. You also have the option of paying for professional packers ($270 to $2,200) and move-out cleaning costs ($120 to $420) — or save some money and do those tasks yourself.

Hiring full-service movers costs between $1,400 and $9,700, while renting a moving truck costs between $1,200 and $2,100. The cheapest option is renting a shipping container, which ranges from $700 to $3,200, according to Home Advisor.

There could also be ‘hidden’ charges, such as a heavy item surcharge or a stairs/elevator fee. But a big one to consider — especially right now with the skyrocketing cost of gas — is a fuel surcharge. This surcharge is typically calculated based on distance and current gas prices, which can add 5% to 15% to your total moving bill, according to Safe Ship.

Then there’s the cost of moving supplies, moving insurance and additional expenses such as hotels and meals on the road.

The cheapest option is a DIY move, which would involve renting a van, packing and loading it yourself, and then driving it across the country.

But Ashley isn’t comfortable driving a large van, so she’s opting to hire movers instead. Home Advisor recommends getting at least three quotes from different moving companies to find the right fit.

She could consider moving in the off-season (October through April), which could save 20% to 30% compared to moving in summer. Moving mid-week could also be cheaper (up to 10% to 25% less). She could also save money by decluttering before the big move and getting free boxes from local stores instead of buying new moving supplies.

Should you dip into your savings?

Once Ashley has a quote from a moving company, it can help her figure out how much she’ll need to save for the move. But she might want to avoid lowering her 401(k) contributions to do that — particularly if that means she’s not getting her full employer match.

Since Ashley contributes 10% to her 401(k) and her employer provides a full match up to 6%, she’s contributing a combined 16% of her annual income. If she reduces that to 5%, her employer will only match 5%, so she’s not only lowering her contribution — she’s leaving free money on the table.

But even if she were to lower her contributions to 6%, in which case she’d get her full employer match, most financial advisors still wouldn’t recommend going that route.