Budget Hacks for Moving Abroad

Moving abroad can be an enriching and life-changing experience, but it can also be a challenge. From culture shock to homesickness, there are many obstacles to overcome when moving to a new country. (Trust me, I know because I’ve been experiencing all of them for the last nine months).

However, being prepared financially can help transition smoother. By creating a budget and anticipating expenses, you can make your move abroad much easier. In this article, I’ll be sharing the money-related strategies that my husband and I swore by when we made our big international move:

Research the cost of living

Before moving, my husband and I researched the cost of living in the country and city we were moving to. It gave us an idea of how much money we need to save and what we can expect to spend on things like rent, food, and transportation.

Budget, budget, budget

Once we knew the cost of living, we created a budget. We included all of our projected expenses, such as rent, utilities, food, transportation, and any other expenses we expect. We accounted for any one-time expenses, such as visa fees or shipping costs.

Prepare a savings fund

In finance-speak, they call it an “emergency fund,” but for me, it’s worth more than an emergency. It’s for when things don’t go as planned. It’s that secret stash you reach for when shit hits the fan. It’s money for my freedom and peace of mind. When everything in this world costs money (and yes, that includes mental health), you need to have the security to save you from financial stress because of unforeseen circumstances such as getting laid off, quitting a job you hate, or just simply saying NO to anyone who costs you your peace.

Downsize or go minimalist

Moving abroad became an opportunity for us to declutter our homes and sell unwanted items. We sold items online or within our condo community. The money we made from selling items went towards our moving expenses. One thing that we’re very proud of is that we’ve been very mindful of the stuff we buy, even if we’ve already settled in our new home country.

Record everything in a spreadsheet

As someone who’s primarily right-brained, facing a spreadsheet gives me some form of vertigo. The numbers, cells, and formulas get me dizzy sometimes, but hey, an adult has got to do what she has got to do. Everything from our expenses, and groceries, down to our clothes, we’ve set up a spreadsheet so we can have a quick overview of everything we own. It helps us better manage our lives and our everyday needs. (Thank you, Excel gods!)

Get a side job

If you’re able to legally work in your new home country, consider getting a side job. This can help you earn extra money to cover your expenses and can also be a great way to meet new people. In my case, I already got a remote freelance opportunity even before we were set to move, so I can still earn while in the process of transition.

Explore the new home city on foot or public transportation

Public transportation is often much cheaper than owning a car or taking Uber. Research the public transportation options in your new city and find out how to get around. My husband and I made it a habit to explore walking and running trails in our area during weekends. It helped us get familiar with our new neighborhood and how we can navigate the city.

While there are still some hiccups that we experienced along the way, we are still continuing to learn as we wake up each day grateful and feeling lucky to have this once-in-a-lifetime opportunity.

By following these budget-moving hacks, we saved money and made this daunting move a lot easier for both of us.

Are you moving abroad, or have you moved abroad too? What are the things you did to prepare for it? Share it in the comments, I’d love to know!

Photo by Anna Sullivan on Unsplash