If you are moving overseas, congratulations! You are about to embark on a very exciting new chapter in your life. Many people who are in the process of moving abroad don’t feel excited, though – they feel stressed.
This is entirely understandable. After all, moving overseas is a big step, and there are loads of things that could lead to you feeling overwhelmed. Packing, paperwork, goodbyes – it’s enough to make anyone’s head spin. But before stress consumes you, take a deep breath and consider simplifying your move with a 20ft shipping container for sale. These sturdy giants offer secure storage and transportation for all your belongings, saving you time, money, and maybe even your sanity. So breathe easy, stay organized, and get ready for your exciting new adventure!
One major reason why so many people feel stressed when moving abroad is the fact that their finances will be affected a lot. That’s why we’ve put together a list of six things you should budget for when moving abroad. Hopefully, this will give you a better idea of how you can manage your finances during this time.
When you are setting up your budget for your move, you are probably thinking about all the big expenses like flight tickets and accommodation.
Of course, these things are very important, and we’ll be discussing them shortly, but there are a few smaller things that you need to budget for as well, especially since these can come in handy. For example, have you thought about budgeting for international health insurance? If not, you should seriously try to get it sorted sooner rather than later, since you won’t want to be caught in a situation where you require medical attention but can’t afford it.
Be sure to opt for health insurance that covers your destination country – so if you are moving to Canada, make sure to get health insurance in Canada.
Moving your belongings
Next, you need to make sure that you plan your finances so that you are able to afford to move your belongings if that’s what you want.
Many people decide to leave everything they own behind and start new overseas, but you may have some valuable or sentimental items that you want to take over with you. If that’s the case, you should put some money aside for this, as it won’t be cheap. That being said, the cost of moving your belongings will depend on what size shipping container you get.
Naturally, one of your biggest expenses will be the flights you buy in order to get from your current country of residence to your new one.
Flight prices will vary depending on multiple factors such as where you are flying to, where you will be landing, how many people will be flying, and when you will be flying. However, it’s a good idea to start looking for flights as soon as possible, since flights are often cheaper when you book them well in advance.
Your visa application
If you are moving abroad permanently rather than just to visit, you need to make sure that you either have a visa that enables you to work or study, or that you are a permanent resident or citizen of the country.
This means that you will have to apply for the necessary documentation. Not only can this process be complicated and time-consuming, but it also tends to have various fees involved. To make things easier for yourself, you should include these fees in your budget. For more tips on surviving the visa application process, click here.
Most people include their permanent accommodation in their budgets when they move abroad. After all, you will want to buy or rent a place when you arrive, and this won’t be cheap.
That being said, you need to keep in mind that you may not immediately have a place to call home, which means you may need to find temporary accommodation until you’re settled. If you have loved ones you can live with, this will be easy, but you may need to budget for an Airbnb or luxury hotel, depending on your preferences.
As mentioned, you need to include both permanent and temporary accommodation in your budget. While temporary accommodation is great because it gives you a place to live while you scope out the real estate market, you should also budget for a place of your own, as this will help you to feel at home in your new country.
Make sure that you have a decent deposit saved up if possible, as this will likely help your financial situation overseas.
If you’ve been stressing about your finances during an overseas move, don’t worry: you’re not alone. Even if you spend years saving and getting your finances in order, you will likely still worry about how you will afford everything, and whether you’ve forgotten anything.
While this post may not contain everything that you need to budget for when moving abroad, we hope that it gave you a better idea of some of the things you should include in your budget. The more prepared you are for your move, the better, so make sure to get your finances sorted!