Budgeting when moving overseas

Figuring out your cost of living in your newly adopted country can be difficult for Expats. I still don’t know if there is an easy answer. However, before you plan to move overseas do some careful research into cost of living details.

Check the fine print. Of course, we all know to check how much an apartment might cost in your new city but below is a checklist of items that may throw your budget off if you are not prepared.

Gasoline or public transport expensesPublic television/radio fees (as in Germany)
Costs of Visas or mandated language classesHealth Insurance
Private schoolsAuto insurance and or new drivers license
Groceries and SundriesEntertainment
After school care, clubs, activitiesHair and beauty expenses

In my book Moving Overseas , I refer to the problems for Expats to work out a new budget before moving overseas. For us, it is still hard to calculate if the USA is a cheaper standard of living or Europe. Our housing is about the same, the groceries here in Germany are definitely cheaper but go on a car trip and you will pay triple what you are used to paying for gas. A useful tool to help may be Expatisan, https://www.expatistan.com/cost-of-living

Factoring in the cost of living changes is essential before excepting an overseas job opportunity. I have even heard of some families getting an added bonus for the loss of value when they had to sell their cars to move. Or companies that will help pay for private schooling. Do your homework first then negotiate your contract and salary.

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