Some tips to save money when relocating overseas
May 6, 2016
Relocating overseas from Bahrain can be expensive and stressful. Following these tips you will save money when relocating, so that you can spend more on having fun in your new location.
Select the best time for relocating
There are high seasons for relocating, picking the right moment for the move can be economically beneficial. Consider the periods that are better seasonal markets for finding housing such as the end of the school year. You should also make a note of any key national events in your home destination, such as Chinese New Year, Christmas or Thanksgiving, and keep away of these dates if possible.
If you can be flexible about the delivery date of your household goods, then you might be able to save money on shipping by using the groupage method. This system allows you to consolidate your shipment with others and share a container, rather than having to carry the cost of your own dedicated container.
Open a local bank account
Open an international bank account before relocating can be a good way of saving money. By having an international bank account together with a local country bank account, you are able to transfer money between the two and avoid expensive international transfer fees. A local bank account will also give you an easy access to your money upon your arrival in your new location.
Get to know your new area
Local people have the best knowledge of their city, try to meet local people and try to familiarizing yourself with your new location as soon as possible. From spotting the best local food market or supermarket to finding affordable shops and cheap restaurants, getting to know your local area can help to cut costs.
Set up a budget plan
Arriving in a new country can be expensive, especially the first year. A simple way to rationalise your spending is to create a budget, and then stick to it. Factor in allowances for exploring your local area and socializing as well as household expenses and food bills. Knowing your expenses in advance and having a plan can make you save money.
Consider the neighbourhood
Although property prices may be cheaper outside of the city centre, be realistic about the practicalities of setting up your new home there. If you are looking to grow an active social life, the cost of regular taxis or commute to the city centre may actually be greater than the money you save on living further out.