6 Things to Budget for When Moving Overseas

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Moving overseas is a big step and one that will affect your life in many ways. Naturally, there is the fact that you will need to adjust to life in an entirely new country, and in some cases, you may even need to learn a new language. 

Then, of course, there is the emotional impact of moving abroad – leaving everything you know behind will certainly have its effects on you. Finally, moving overseas will also impact your finances. That’s why it’s so important to accurately budget for your overseas move. If you’re not sure what to budget for, keep reading.


One of the things that many people forget to budget for when moving abroad is insurance. But insurance is one of the most important things to consider when you make such a big move because there are so many things that could go wrong.

Getting travel insurance is a good idea – that way, if anything goes wrong or your luggage goes missing, you can rest assured that it will be covered by the insurer.
Also if you are keeping a property in your home country then you may need to consider if your insurance covers your property while it is unoccupied.

You should also look into health insurance for Americans abroad. Once you’ve settled in your new country, start thinking about car and home insurance as well.

In fact, if you’re looking into insurance, it’s probably worth investigating life insurance too. It makes sense to get everything covered, especially if you are buying a property (some mortgage providers actually require you to have life insurance in that case). There are many different options, so it can be wise to speak to an expert about IUL vs whole life insurance to ensure you have the full picture and make the right choice.


You will need somewhere to live when you move abroad, so you need to budget for that. Most people don’t have a permanent place to stay when they first arrive in a new country, which means that they will stay in hotels for a while until they are settled and can start looking for a home. They may want to look for a studio for rent in Amsterdam (or wherever they are moving to) before they fly so they have an idea of how much what they’re after will cost.

Of course, this is very expensive, which is why you need to budget for it. If you want to buy a home, you will also need to budget for all of those expenses. One way to save some money when buying a house is to buy a cheaper house and then renovate it. 

Flight tickets

As you probably know, international flights are expensive. While this is generally a once-off expense if you are permanently moving abroad, it can still make quite a dent in your savings, so you need to budget for it and make sure that you have enough money to pay for flight tickets and everything else you need. 

There are plenty of ways to save on your flight tickets, so be sure to do some research so that you don’t end up spending too much money if it’s not necessary. Even if you are moving overseas permanently, you might still want to book a return flight so that you can visit your loved ones.


Many people assume that their visas won’t cost a lot, so they don’t include them in their budgets. While most visas are quite affordable, it depends on where you live as well as where you’re moving.

In some cases, your and your family’s visas could cost you quite a bit of money. On top of that, you will need certain documents to get your visas. You may need a medical report or police clearance certificate, and that could cost you money as well. To learn more about applying for a UK visa from the United States, click here. 

The unemployment period

In some cases, people may move to a new country without having a job. Since no one knows how long it will take to get employed in a new country, it’s a good idea to save enough money to support you while you look for a job. 

Be sure to save more than you think you need, in case the job search takes longer than planned. you can also use these websites to help you find jobs abroad. 

New things

There are two options when moving abroad: you either pay a lot of money and take your belongings overseas with you, or you leave it all behind and start from scratch. 

Either way – even if you take your things with you – you will need to buy new things. This could be new furniture, as well as bigger expenses like a new car.

You may also need new clothes if the climate you’re moving to is different than what you’re used to. So, it’s a good idea to put some money aside for things you will need once you arrive in your new home.

In conclusion

While moving abroad is an experience that is both exciting and terrifying, it is also one that requires a lot of planning. And even though you may not have control over everything regarding your move, you do have some control over your finances.

So, take the time to set out a proper budget – you won’t regret it! Another pro budgeting tip is to always budget more than you think you need. That way, you may have some extra money left over, which is much better than not having enough.