15 Financial Tips before Becoming an Expat

2. Have Sufficient Money Tucked away in Savings

Expats from all countries who have made living abroad a success have typically had sufficient money saved away to deal with uncertainty or unemployment. The total to ensure success varies based on the country, and individual living abroad’s demographics; however, a good rule of thumb is to have between five and seven months of living expenses saved away before making the big jump to living and working abroad. If going abroad to study, this amount will vary based on the circumstances (and costs) of the school; however, having enough to fly back home in an emergency or get by until family can assist is another key to success. Some countries may actually require proof of funds saved before issuing a visa that allows one to work or stay in the country (legally) beyond 90 days.