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Five Great Money Management Tips for Expats

Deciding to move abroad can be incredible exciting! Whether you’ve planned carefully or thrown caution to the wind, there’s nothing more adventurous than taking off to begin a new life in a new country.  But if you are setting sail for new shores, it’s always important to bear in mind that – no matter where you go, or how light you travel – you will always need a reliable source of money.

Knowing how to manage your money is, therefore, a crucial part of ensuring that your overseas move is a success. So read the following five handy tips on how to handle your finances when you set sail on your expat adventure.

  1. Reliable Removals

That’s right. Not cheap removals. Reliable removals. Such as overseas removal services from Abels Moving Services. Booking an experienced, reliable removal service means nothing gets lost or broken, which means you won’t have to fork out money for repairs or replacements. It also means not having to experience the nightmare of prices being suddenly jacked up mid-transport. When it comes to removals, getting it right the first time will save you money in the long run.

  1. Advance Accommodation

Sorting your accommodation out in advance is the most sensible thing you can do, when moving abroad. Not only will it give you chance to shop around and pick the best deal, but it will also mean there’s no chance you’ll end up in an overpriced hotel.

  1. Clever Currencies

Even if you can’t speak the language, you will need to make sure your money can. And the best way of making your money work for you is by securing a great deal on exchange, before you travel. Exchange rates vary, both by time and by provider, so start shopping around well in advance of your move date.

  1. Overseas Accounts

You may love the service which your current bank provides, but when you move abroad you may find that banking locally will ensure you get a much better deal on your money. Before you move, check out all local banking options available in the destination to which you’ll be travelling.

  1. Terrible Taxes

None of us like to think about taxes! But unfortunately, they’re simply a way of life in most countries in the world. And unless you plan on going completely to ground in a Tarzan-esque fashion, you will need to be aware of the local tax laws in your new country. Many countries have specific tax laws which apply to expats, so get clued up before you move and make sure you’re fully, financially prepared to meet all of your tax responsibilities.

 

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