Friday, December 8, 2017

Ultimate Guide to Moving Abroad Part III: Money


We all need money. Period.

Cambodian Riels KHR 4,060 = USD 1 so this is about $2.75

You don't need a ton for the move abroad itself, but you do need money to settle into a new place and enough to live. So figure out your money situation.

What is your starting point? Are you currently financially stable? Do you have an income? Do you have savings? Do you have debt?

Check out numbeo to see what you can expect for the cost of living in your new city.

Broke foreigners mooching around countries where a large part of the population is actually poor is NOT a good look. Despite rumors, your embassy will not fly you home for free. If you don't have enough to make a new home, hold off and save up.

“Settling Down” Money

Next, think about your transition window. How long can you set up a new living situation before you need to start working again? How about health insurance?

Budget for this time. Plus some. This budget will be highly dependent on your lifestyle, so be honest with yourself. If you aren’t a barefoot minimalist backpacker, don't expect to live like one.

What kind of job can you get in your new home country? Are foreigners banned from any industries? How much does it pay? What if things fall through?

managed a restaurant for a year and a half
perks of the job--endless tacos

Back in 2010 I moved to Ireland planning on an office job at an NGO. I had a job offer within months but the Irish economy tanked and my job offer was revoked by Immigration. What would you do in that situation? Give up? Or just rearrange your expectations and get on with your new life...

Have a Back-Up Plan

Make sure you have something up your sleeve.

me with coworkers, unknown job, unknown place 💀

Though I have a career in NGO work, I’ve been in the restaurant business since I was 17. Depending on the day, I can be a professional chef, a restaurant manager, a bookkeeper, a bartender, or a marketing plan consultant. I can pick up content writing jobs. For English speakers, teaching English can be a first or last choice depending on how much you like teaching. List out your options.

In no way am I recommending that you work under the table. Does it happens all over the world and bring in quick cash in a pinch until you get your situation straightened out? Sure. Have I done it? Never!!! 😉

Lining Up Work

This is a controversial one, but I’m a firm believer that you do NOT need to have a job before you move. In fact, unless your current employer is transferring you overseas, it’s nearly impossible to get a job lined up from overseas.

Would you hire somebody without meeting them in person? A few industries can handle virtual interviews, but for the most part this is not a reality. 

me at my writing job in 2017

I know it’s scary for some people to imagine moving without a job in mind. The truth is, if you are employable you will find a job. Are you ready to go yet?

If you have the first three things taken care of in this blog series (Stuff, Immigration, and Money) I am happy to tell you that you are cleared to actually get on a plane. Go ahead. Make the leap and buy those tickets!

Click here to read the next part in the Ultimate Guide to Moving Abroad series.

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