Money Saving Tips For Moving Abroad
Any advice is welcome when it comes to moving abroad, especially money saving tips! We´re all pretty used to paying unnecessary fees when we visit other countries - expensive bank fees, luggage fees, phone fees etc, all fees that we could all avoid! These fees shouldn´t become something we get used to after we have moved, especially when we are settling into this location for a while!
To help you make the most out of your money and settle into your new destination, we have come up with 5 money saving tips to help you in the initial part of your move!
It´s a difficult task trying to pack your entire life into a suitcase or two. You never know what clothes you might need, what you might miss and sometimes you really regret not bringing that one item. Although some airlines allow you to take a lot of luggage on board, if you are travelling alone it can be difficult to pack these in a practical way. Sometimes you are only allowed one piece of luggage per flight, there are different size limits etc.
The rules are often endless and we can get charged significant amounts of money when it comes to checking our luggage in. Don´t worry - we found a money saving solution! Instead of juggling your luggage on your way to the airport and making sure it doesn´t weigh over your allowance, why not use SendMyBag, a convenient luggage service that transports your luggage door-to-door. You only need to worry about taking yourself and your passport to the airport - how relaxing. Use this link to get £5 off.
Why pay for what is yours? There´s nothing more annoying than paying to get your own money out. Moving abroad can be an expensive task on its own without these extra fees. Some banks can add high exchange rates and other charges. What's worse is that these charges can often be added weeks after, which can come at a huge surprise when you are sorting out your finances. The ATM conversion rates can often be drastically bigger than currency shops (which are expensive enough) and this can make you lose out on a significant amount of money. These days we have a good selection of travel cards and online banks that can help to keep fees at the very minimum.
By signing up to an online bank, like N26 you can make the most out of your money. You´ll feel better knowing that you have a lot more control over your money and you can avoid all of the random fees. Online banks have a lot of money saving advantages for expats and travellers through minimised fees and high security against fraud.
International Sim Cards
We are so used to the convenience of phones, that we can hardly live without them. They help us to navigate our way around, we need them to contact friends and family and nowadays, we can even use them to pay for things. Thankfully, it´s a lot easier to use our phones abroad because some phone networks allow roaming at no extra cost BUT when you hit your allowance, you can often be charged a significant amount of money!
Sometimes it´s worth buying a prepaid international sim before you move, brands like Lyca Mobile and others allow you to use them with complete freedom when you are travelling. No shocking phone bills and cut off contracts, flexibility and freedom to use your phone just like at home, which is perfect when we are going through that initial culture shock period and we just need to call home!
Low-cost money transfers
Banks can often charge accessive amounts of money when you are transferring money internationally. Sometimes you can be charged excessive amounts for one simple transaction, causing you to lose out on your own money! There are a number of reasons why you might need to transfer money internationally, sending abroad to friends or family members, transferring to landlords before you move and even just accessing your own money from your old account. So it´s important to find a secure, convenient method.
To avoid these long-winded, expensive transactions - sign up to Transferwise. Transferwise allows you to send low-cost transfers internationally to a large variety of countries. The fees are often extremely low in comparison to traditional banks. N26 is also integrated with Transferwise - international banking has never been easier.
When you move abroad, you can sometimes rush into getting an apartment, there are often online scams that can cause you to lose out on money and sometimes you can arrive somewhere that looks nothing like the online advertisement!
To save yourself the hassle of losing deposits and other money scams, we recommend checking into a hostel in your new location first. Hostels are often low cost, sociable places and this can be a great way to get settled into your new hometown. This will enable you to view different neighbourhoods and go to a range of housing inspections, ensuring that you make the right decision. Whats more, moving to a hostel can help you to meet people in your first week - setting you up for a happy relocation!
We hope that you find our money saving tips useful and that when it comes to making that move, you will feel more than prepared! Moving to a new country is an exciting process and we hope you make some lasting memories on the way. If you would like any extra advice, do not hesitate to get in touch via the comments below.
Aug 30, 2019 by Charlotte
Great it's useful tips .
Thanks for the tips.
I actually had the issue with the ATM conversion. The fees was deducted from my account few days after I came back from the trips.
Thank you for these useful informations
Thanks for these amazing Tips!
Thank you for the great read and useful information!!
These are amazing tips!
Great! This article provides so useful tips, that i will take into consideration surely.
Thank you for these useful tips !
Thank you for more tips
Thank you for the tips!