Tips to save money when moving abroad
September 6, 2018
Moving abroad is not cheap. First you have to pack your possessions and even selling your home, then you have the pressure to shell out for the best new life abroad. We have gathered some tips for saving when relocating, so that you can spend more on having fun in your new location.
Research the best time to relocate
There are highest seasons for moving – researching and choosing the right time for your move can be economically beneficial. Search the periods that are better seasonal markets for finding housing such as the end of the school year. You should also make consider any important national events in your chosen destination, such as Chinese New Year or Thanksgiving, and avoid these dates if possible.
Share shipping costs
If you can be flexible about the delivery date of your belongings, then you may be able to save costs on shipping by using the groupage method. This permits you to consolidate your shipment with others and share a container, rather than having to carry the cost of your own container.
Open a local bank account
A local country bank account will provide easy access to your money upon your arrival but opening an international bank account before you move can be an excellent way of saving money. By having an international bank account alongside a local country bank account, you are able to transfer money between the two and bypass expensive international transfer fees.
Research the best accommodation
While property prices may be less expensive outside of the city centre, be realistic about the practicalities of setting up your new home far away. If you work in the city centre and if you are also looking to develop an active social life, the cost of regular transportation may actually be higher than the money you save on living further out.
Draft a budget plan
A simple way to limit 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. Keeping track of your outgoings will help you to make savings if necessary.
Do you need more tips on settling-in your new location? Get help from our local consultants.