15 Financial Tips before Becoming an Expat

1. Make a Realistic Budget before Moving

There have been numerous individuals who have fallen in love with the idea of living and working abroad as an expat only to return home in less than a year due to financial issues. A common theme with many of these people is failing to make a realistic budget before moving to the targeted country or area of interest. Before accepting that new job abroad, taking time to determine what the average costs for food, transportation, housing, insurance, and utilities will run one is a key component to success. Additionally, unless planning to stay holed up in one’s apartment, including a fixed amount of money each month for entertainment is another key factor. It doesn’t matter how much money the job will pay you if one spends more than they make on going out and extravagant travel.