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Working Abroad Tips - Budgeting

Working Abroad Tips - Budgeting

If you are moving abroad and do not have a job yet, budgeting so that you prepare for the worst is always a good idea. The last thing you want is to end up on a plane back home in three months time with no job and no money because you didn’t budget correctly.

This is not to give the impression that people moving abroad who have jobs set up already, don’t need to budget. Everyone needs to be aware of their financial status at all times, however for those travelling with no job yet, the worry of not finding work as soon as possible will result in more spending with nothing coming in weekly, or monthly.

Basic budget planning is essential when moving to a different country, some headings you should be aware about might include:

  • Accommodation
  • Groceries
  • Transport (public transport or fuel costs)
  • Bills (electricity, television licence, etc)
  • Insurance plans (healthcare)
  • Visa costs (if necessary)
  • Family costs (children’s school books, school uniforms, etc)
  • Unexpected costs (health accident, vehicle repairs, club memberships, damages, etc)