How To Budget For Your Move Abroad

Deciding to move abroad is the easy part – organising yourself and your finances is another story! Budgeting for an overseas move needn’t be a headache, and with some careful planning and research you can put together a detailed and realistic budget for your exciting adventure.

Below I’ve listed all the costs you’ll need to consider when moving abroad – making sure your arrival in your new home town goes as smoothly as possible.

Passport and Visa Applications

It goes without saying that if you are going to move abroad then you are going to need a passport! If you already have one of these babies already, then you obviously won’t need to pay for a new one, but if you are yet to apply for one keep in mind that there is a cost involved. This varies from country to country, but expect to pay around $140 which is the cost of a passport in the USA.

If you do already own a passport then you might also want to check when it expires – if this date falls under the time you will be living abroad then you may want to consider renewing your passport before you leave – this is entirely up to you, but just be aware that a higher fee may be associated with renewing your passport away from your home country.

Visas are a whole other ballgame and vary widely depending on where you are planning on going, and your work/study/personal status. For example a student visa, a family visa and a work visa will all have different fees associated and differing processes, wait times and requirements. Be aware however that almost all visas required to move overseas will have an application fee, so do your research for your chosen country and add this into your budget.

Flight Costs

Depending on how far your moving abroad, flights could potentially be your biggest cost. I would highly recommend shopping around for the cheapest flight using search facilities like Skyscanner or Kayak – you might also want to check if any of your frequent flyer miles (if you have any) can be used to travel to your destination.

If you are planning your move abroad as part of a round the world trip, then check out my 5 Tips For Buying A Round The World Flight.

If you plan on carrying most of your belongings with you by plane then be sure to confirm the checked in baggage rules for each airline – if you have a lot of stuff it may be worth paying that extra $100 on a flight rather than taking a cheaper one and having to pay shipping fees.

Moving Abroad Costs

If you are carrying your belongings with you on your flight then this one doesn’t apply to you, but if you are emigrating long-term or just want some of your creature comforts around you then you are most likely going to need to pay for an international removal or shipping. Again, this cost will depend on the distance you are moving and how much you are taking with you. It will also depend on how quickly you will need your belongings in your new home – fast international removals will likely be quite expensive, whereas if you go for shipping by boat over a few weeks, this will probably bring your costs down considerably. You may want to get quotes from local removalists/shippers and also some of the larger international chains to find your cheapest option.

Accommodation Costs

Do you plan on having a house/flat/room organised for when you arrive, or will you be staying with a friend or at a hotel/hostel for a few days to find your feet before house hunting? If you want to have somewhere lined up before you go you will most probably have to pay at least a months rent in advance and a deposit of some description – this may work out more cost effective  than staying in a hotel for a few days, but you will need to research your options if you are trying to keep costs as low as possible.

On the other hand, staying in a hostel for a few days when you first arrive might allow you to spend your time finding an affordable home in an area that you feel comfortable in. Either way, you should allow at least $1000-2000 for accommodation costs if you plan on moving into a house straight away or soon after you arrive. If you plan on staying in a hostel until you get a job and have some money coming in, then you could get away with budgeting half of this – around $500-1000 dollars.

Job Costs

You might not think there are many costs associated with finding a new job, but you would be surprised! Even if you have already landed a job overseas then you might need to consider things like buying a new uniform/suit/equipment, and travel to and from your workplace – this could differ quite a lot from what you are used to at home, so do some research or ask your new employer what is expected of you.

If you are applying for a role working with children or a job where qualifications are needed then you may need to pay for a criminal records check or to have your credentials recognised in your new country – both of these things vary country to country so check with a government website or official documents to confirm what is needed.

Living Costs

In addition to searching for your new home and finding your new job, you are also going to want to explore the exciting new place you have found yourself in, so don’t forget to allow budget for food, drinks, sightseeing and public transport/taxis. The amount you will need depends on your habits – do you love to eat out and drink at bars, or are you happy staying in cooking but want to get out and do some tours?

If you are having trouble figuring this one out then don’t worry, there are a number of travel budget calculators out there which can give you an average daily cost of living in a  certain place, depending on your spending habits, whether they are low, medium or high. I personally like the ones from Solotravel.org and Savingfortravel.com and use them for most fo the travel that I do.

Photo Credits – Thanks to SC Fiasco (Attribution License)

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