Expenses Of Moving Overseas

Are you​ about to​ move abroad? Have you​ considered how hard it​ is​ going to​ hit your​ purse?

When we consider moving overseas, it​ is​ not just about the job and​ the opportunities. it​ is​ also most definitely about how your​ finances will be affected.

It is​ important to​ check out information​ like the Mercer survey. this​ helps to​ calculate which cities are the most expensive in​ the world to​ live in. These surveys can give you​ accurate information​ and​ can help you​ compare costs of​ living. an​ important aspect you​ may want to​ take into account is​ how your​ quality of​ life will be affected when you​ move. a​ higher salary does not necessarily mean a​ better quality of​ life. it​ is​ not guaranteed that you​ will be better off.

When you​ first arrive in​ a​ country you​ may need to​ be able to​ pay for​ things such as​ rent, set up costs, deposits, a​ car and​ others. it​ is​ a​ good idea to​ have a​ good amount of​ emergency reserves of​ cash for​ unexpected costs that might arise.

When I made a​ move from Korea to​ the USA, I was very thankful that I did have emergency reserves of​ cash. I needed to​ buy a​ car, put a​ hefty rental deposit down, pay for​ motel costs for​ a​ couple of​ weeks, deposit cash in​ order to​ open a​ bank account among other things. There are many and​ often unaccounted for​ relocation​ costs that come into play when you​ move. it​ is​ in​ your​ best interests to​ be as​ prepared as​ possible.

The best way to​ get information​ is​ to​ do your​ homework. Go online and​ look at​ some sites, especially expatriate sites. a​ useful tool is​ to​ go to​ the FORUM boards and​ see what people have said about living in​ certain​ countries. you​ might even want to​ start your​ own forum discussion. Expats are very willing to​ share their experiences and​ knowledge.

Once you​ have gathered your​ information, the next step is​ to​ do your​ math. Brainstorm with friends about what factors you​ need to​ take into account so that you​ do not miss anything. Factor in​ education, housing costs, moving and/or storage costs, transport, clothing, household goods and​ so on.

Moving abroad can have a​ severe impact on​ your​ finances. you​ need to​ take this​ knowledge into account before your​ move and​ not afterwards! How prepared are you​ for​ your​ move?

The World ' s 10 Most Expensive Cities

Source: Mercer Human resource Consulting, 2018 Cost-of-Living Survey

2018 Ranking

1 Tokyo, Japan

2 Osaka, Japan

3 London, United Kingdom

4 Moscow, Russia

5 Seoul, South Korea

6 Geneva, Switzerland

7 Zurich, Switzerland

8 Copenhagen, Denmark

9 Hong Kong, Hong Kong

10 Oslo, Norway

3 things you​ need to​ be prepared for​ when you​ relocate

* No one understands you

* No one understands you

* No one understands you

Tip of​ the week

What is​ considered enough money when moving? Maybe just a​ little bit more than you​ planned on.

Quote of​ the week

"Beware of​ the little expenses; a​ small leak will sink a​ great ship." Benjamin​ Franklin.

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