Friday, April 5, 2019

10 Tips To Help You Save To Move Abroad

Photo by Ross Parmly on Unsplash
If you're looking for something new and exciting and you've always loved to travel, why not consider moving abroad for a number of years? Whilst it is an incredibly difficult and stressful decision to make, it could also be one of the best things you ever do.

If you are considering moving to a different country there are a number of different things you need to think about before you book that one-way ticket. Whether it's deciding where you're going to live or ensuring you have the correct visa, you need to be as prepared as you possibly can be. Whilst we would love for this post to cover EVERYTHING you need to consider before moving abroad, we're going to focus solely on being able to afford your move.

Whether you've been saving for years or you've only just started, one of the most important things you need to do before you leave is to make sure you have enough money to both move and survive your first few months - especially if you're not going to be working right away. With that in mind, here are 10 handy tips.

Why Should You Move Abroad?

Before getting started, here are some of the incredible reasons you should definitely consider moving abroad:

A New Adventure - when it comes to living in the same place for a long period of time, things can start to get a little boring. People spend their lives stuck in the same routine and whilst some love it, others can feel as though they're trapped. If this is you, moving to a new country for a couple of years is a great way to break out of that mold and try something a little different. You can push boundaries, explore new cultures and experience a life that is completely different from the one you already know.

A Chance For A Better Life - Often, moving to a new country can provide you with a much better life than the one you have now. Whether it's a better job, a better earning potential or a better way of living - you will be surprised how much things can change when you change your address.

To Grow As A Person - If you're looking to learn something new about yourself, or you want to grow as a person, moving to a new country could really make a difference. The process of packing all of your bags and moving across the world is something that can really shape you as a person, no matter what stage of your life you're at. If you want to learn more about the emotional benefit of moving abroad, you can visit this site here.

Top Tips For Saving To Move Abroad

Now that you're sure you want to move to a new country, it's time to start thinking about how you're going to save.

Do Your Research Before You Get Started

The first thing you need to do is to make sure you're doing as much research as you possibly can. This means finding out exactly how much it is going to cost to move, and how much it is going to cost to sustain a new life in the country you're moving to. Think about how much your visa will cost, how much a flight is going to be, how much it will cost to ship over your belongings and how much you're going to need for a deposit or rent. In the long term, you need to consider the cost of living, the cost of your monthly rent and how much you can earn whilst you're living there. Whether you're looking for a terrace house or a rented flat, you need to ensure you know the average prices in the area you're moving to.

Set Yourself A Budget

Once you have done your research you can start to put together a budget. This will include all of your estimated incomings and outgoings, resulting in a leftover disposable income. Whilst this budget may differ from month to month, it's important to keep track so you know whether or not you're able to afford the lifestyle you're living. If you start to notice your disposable income is getting less and less each month, you may need to reconsider whether or not the move was the best choice. If that's the case, you need to think about whether or not you're going to go back home, or if you're going to look for another job overseas.

Create A Spreadsheet To Keep Track Of Everything

When it comes to creating a budget, the best thing to do is to keep track of everything in a spreadsheet. Not only will it allow you to organize everything easily, but it will also do all of the difficult calculations for you. Whilst it may take a little bit of getting used to, once you know the ins and outs of your spreadsheet it will become your guide throughout your overseas journey. For an easy-to-use budget spreadsheet, you can visit this site here.

Cut Down On Things That Are Non-Essential

Before you start your new adventure you're going to have to do some serious saving. Whether you find out you're going a few years before or a few months, it's important every last penny you have is going towards your move. The best way to be sure of this is to stop buying things that you wouldn't consider to be essential. If it's something that can't go with you or something you don't need, put it back. You'll be thanking yourself later!

Consider Setting Up A Monthly Direct Debit To Your Bank

If you have a long time between now and the time you leave, why not consider setting up a monthly direct debit to your bank? Not only will this ensure you're saving something each and every month, but it will also allow you to keep track of what you're saving. If your payment is a direct debit that automatically leaves your account, you will feel as though it is one of your standard bills, helping reduce the temptation to spend it. If you're really struggling, why not put a block on your savings account until a certain date?

Make Sure You Prioritize

Although you may feel as though you need absolutely everything for your move, it's important you're really prioritizing what you need. Make a list of the absolute essentials and do not deviate from that list. For a guide on what to purchase before you move to a new country, you can visit this site here.

Sell All Of Your Belongings That You'll No Longer Need

As you're going to be moving to a new country there are going to be a lot of belongings that you'll no longer need lying around your house. Depending on how long you have before your move you may be able to sell a large chunk of them in order to raise funds for your trip. Whether this means selling your TV and your car or selling all of the clothes you own, you may be surprised how much you can make getting rid of your old junk.

Take Part In A Savings Challenge

If you struggling with saving and find you need a little bit of extra motivation, why not take part in a savings challenge? Not only will this ensure you're putting something away as often as you possibly can, but it will also bring out the competitive side in you, increasing the money you save as you compete to better yourself. For inspiration when it comes to spending challenges, you can visit this site here.

Pay Off Your Debts As Soon As You Can

If you have any debts, the best idea is to get rid of them before you travel. Whilst you may not be able to get rid of them entirely, paying as much of them off as you can, will help considerably when you finally make the move.

Are you thinking of moving abroad? What do you need to prepare in advance? Let me know in the comment section below.

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