Moving to a new country brings incredible experiences—and new financial challenges. Here’s how to take control of your money before and after the move.
Financial Planning Checklist:
- Set Up a New Budget: Account for different rent, insurance, food, utilities, and local taxes.
- Banking: Open a local bank account and maintain at least one international account.
- Currency Exchange Fees: Use services like Wise, Revolut, or OFX to avoid high fees.
- Taxes: Learn whether your new country has tax treaties with your home country.
- Emergency Fund: Maintain a 3–6 month buffer in case of surprise costs or delayed income.
- Investments and Retirement Accounts: Know the rules on managing 401(k)s, IRAs, or other funds abroad.
- Health Insurance: Get an international plan or buy into the local system.
Smart Moves:
- Set up auto-payments for recurring bills.
- Keep copies of all financial documents, both printed and digital.
- Avoid relying on credit cards abroad due to foreign transaction fees.
CTA: Don’t let financial mistakes ruin your new adventure. Use our Expat Financial Prep Checklist to stay ahead. [SettleAway.com/tools]
