Settling-In Allowance

AAA

DEFINITION of 'Settling-In Allowance'

Money given to a person who has relocated for work to help them meet their immediate financial obligations upon moving. The settling-in allowance may be given as a lump sum or may be reimbursed upon submission of related receipts. A settling-in allowance might be used for expenses such as temporary lodging, meals, storage of personal belongings and other incidental costs of settling in at a new location.

INVESTOPEDIA EXPLAINS 'Settling-In Allowance'

Companies may assist employees who have to move for work, whether because of a transfer or a new job offer, in many ways. In addition to a settling-in allowance, they might award a relocation allowance or direct reimbursement for relocation expenses. Relocation expenses often include transportation, accommodation and meals for house hunting trips, temporary lodging upon arrival in the new location, moving company and storage costs, and costs associated with selling and acquiring a primary residence, such as real estate commissions and other closing costs. For temporary relocation, a company might provide both a settling-in allowance and a living allowance.

RELATED TERMS
  1. Benefit Allowance

    Money that a company or government agency provides to an employee ...
  2. Benefit Period

    The benefit period is the length of time during which a benefit ...
  3. First-Year Allowance

    A U.K. tax allowance that permits British corporations to claim ...
  4. Mileage Allowance

    A deduction of automobile expenses for people using their vehicles ...
  5. Moving Expenses

    Potentially tax-deductible expenses that are incurred when an ...
  6. Parsonage Allowance

    An allowance designated by a church or other organization for ...
Related Articles
  1. Moving Back Home: A Win-Win Situation
    Savings

    Moving Back Home: A Win-Win Situation

  2. How Mutual Funds Differ Around The World
    Mutual Funds & ETFs

    How Mutual Funds Differ Around The World

  3. Common IRA Rollover Mistakes
    Personal Finance

    Common IRA Rollover Mistakes

  4. Mortgages: How Much Can You Afford?
    Budgeting

    Mortgages: How Much Can You Afford?

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center