Saving Money When Moving Abroad

saving money abroad

So now you’ve decided that overseas is where your future lies, it’s time to think about how far your budget will stretch in your chosen destination. Here are a few pointers on how to plan for financial security, wherever you lay your hat.

– Planning. This is the most important tip. Before you pack your suitcase and bubble-wrap your mementos, work out a plan of how your current budget will work in your new location. Do the whole Excel Spreadsheet thing.

– You may be required to provide details of your bank accounts to guarantee that your income will be contributing to Australia’s economy, so if you haven’t moved yet, start saving now.

– Once accepted, make sure you open an overseas bank account straight away, preferably before you arrive in Australia. If you bank with one of the big names, this should be a relatively easy process.

– If you’re leaving an empty house in the UK, why not look into the possibility of renting it out? All you’d need to do make sure your home insurance will still cover you. Okay, admittedly that’s not all you’d need to do, there will be other stuff. Check out your options online.

– Moving money into an overseas bank account costs money so shop around for specialist money transfer companies to get the best rates.

– In some areas, local government-operated schemes exist that aim to help new arrivals in adapting to their new life overseas. This includes assisting with any financial matters. Check to see if there’s a scheme near you.

– It might be worth getting your hands on a prepaid money card in Australia. It’s not quite a credit card, it’s not quite cash; it’s somewhere in the middle. And it can be preloaded with different currencies so you don’t have to worry about currency conversion rates.

– Once you’ve set up your mobile phone in Australia, make sure ‘data roaming’ is switched off.

– Oh and don’t use ATMs that charge. Every little helps!

Another way of keeping some money in your pocket is by using the services of Seven Seas Worldwide.

We have a range of solutions for those moving home to Australia. Plus we have an established network running to and from Australia, so your consignment will always be under our supervision rather than handed over to some faceless third party. Check out our website for our fast and affordable ways of getting your personal belongings from A to B with minimum stress.

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