5 Tips On How To Save Money Before Moving Abroad

Unpacked moving boxes in Living Room

Unpacked moving boxes in Living Room

There are loads of reasons why people choose to leave the UK and move abroad. A struggling job market and the famously bad English weather are just two of them.

You’re very likely to need twice the amount of money you think you’ll need because you will not only have to pay for your own relocation, but also for the relocation of your belongings. You’ll probably need enough savings to be able to head back home for emergencies. Lack of sufficient financial means is one of the main reasons why people fail to make a life for themselves in another country. How much you need to save up will depend on how expensive your new home will be, but it’s better to be on the safe side. We’ve put together a list of five tips that can help you to save up enough so you can make the move.

  1. Move back in with your parents. This step might not be for everyone, but if you get along with your parents, then this is a fantastic way of saving up a lot of money in a short period of time. Usually, the biggest expense we have every month is rent, so if you can do away with that cost or at least significantly reduce it, you can save up quickly.
    It’d also force you to reduce the amount of stuff you own so that you have fewer things to move when the time comes to leave the country.
  2. Organise as much as you can from your current location before moving to a new country. If you have to live in a hotel while you’re trying to find a place to live, then this can quickly use up your savings. Online estate agents can provide assistance when searching for accommodation abroad.
  3. Cut down on eating out. You can still be sociable, but rather than going out for a full meal, just meet your friends for a drink or a coffee. Make sure that you eat beforehand so that you won’t be tempted. Or you could invite your friends over to your house to have a night in with them. That’s much cheaper than a night out on the town and can be loads of fun.
  4. Cut down on the luxuries. Rather than an expensive monthly phone plan, opt for pay as you go. Cancel the gym membership and go for a run every morning instead. Cancel your TV licence and rely on BBC iPlayer and other free media sources. Walk wherever you can instead of taking the bus. Over time you’ll be able to save a significant amount of money making these small lifestyle changes.
  5. Sell things you don’t need anymore. That new pair of winter boots you never wear, that bicycle you haven’t used in years or that guitar you played once and then decided it wasn’t for you – all these things can be turned into extra cash. Sites such as eBay or Gumtree can be really useful, or you could sell at your local car boot sale.
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Moving to another country is often stressful and difficult, but when the idea is thought out and planned properly, the pay off can be huge. By saving up enough in advance, you stand a good chance of being able to make a new life for yourself in another country.

source: The South African

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