You have made the decision, Now, where do I need to start? Key things to keep in mind before moving to a new country.

You've made the decision to live and work overseas—exciting times ahead! But where do you start? Many people feel overwhelmed at this stage, and that's perfectly normal. While some prefer spontaneity, others find comfort in thorough preparation. With the cost of living rising in many countries, it’s crucial to understand the financial landscape of your destination. Here's a breakdown of what you should consider:

1.      Exchange Rates:

• Currency: Keep an eye on exchange rates as they directly impact your spending power.

• Fees: Look out for fees when transferring money between countries.
  

Pro tip: Use sites such as https://www.x-rates.com/table/?from=AUD&amount=1  to check exchange rates. This one looks at the Australian dollar.

2.      Housing Costs:

• Rent vs. Buy: Compare average rental prices to the cost of buying property.

• Neighbourhoods: Evaluate different areas for safety, amenities, and cost.

• Utilities: Include costs for electricity, water, and internet.
  

Pro Tip: Avoid committing to long-term plans if you're unsure about the duration of your stay. Breaking lease agreements or other contracts can incur significant costs down the line.

3.      Food – The Cradle of Life

·       Groceries: Check local prices for food and daily items on local websites.

·       Eating Out: Investigate the cost of dining at restaurants and cafes. Look into things like the following in Melbourne:

o   Coffee - $4-5.50 (depending on your milk and strength preference)

o   Lunch - $9 - $15

o   Dinner with friends $30-80 (not including drinks and depends on if you want to go to the pub or have a nice meal.

Pro Tip: Check to see if your favourite or culturally significant foods are available and affordable. Cities with large migrant populations often have diverse grocery options.

4.      Transportation

Compare the cost of public transit passes to owning a car (considering fuel, insurance, and parking). Spend some time navigating the area by foot as you will gain a better understanding of your surrounding and you may find that travelling by foot is a cheaper and healthier option.

5.      Healthcare

Understand the healthcare system in your new country and ask yourselves these questions:

• What type of access to healthcare will you have?

• Will you need to pay out of pocket, or is insurance necessary?

Pro Tip: Pack essential medications before you leave. Note that certain over-the-counter medications in your home country might not be available abroad. For instance, melatonin is OTC in the U.S. but not in Australia, New Zealand, and the UK. Research medication availability in your destination.

6.      Entertainment

• Local Activities: Check the cost of activities like movies, gyms, and sports clubs.

• Social Life: Consider expenses for nightlife and dining out.

Pro Tip: You’ll likely spend your first few weeks exploring and enjoying your new surroundings. Budget for these activities and consider spacing them out to manage your finances.

Setting a Timeline

Create a realistic timeline for finding housing, employment, and settling into your new life. This will help you stay organized and reduce stress during your transition.

By carefully considering these factors, you’ll be better prepared for your exciting adventure abroad. Happy travels!

Ready to start your adventure? The W-Birds App is here to connect you with potential job opportunities. Make your own adventure!