Are you about to move abroad? Have you considered how hard it is going to hit your purse?
When we consider moving overseas, it is not just about the job and the opportunities. It is also most definitely about how your finances will be affected.
It is important to check out information like the Mercer survey. This helps to calculate which cities are the most expensive in the world to live in. These surveys can give you accurate information and can help you compare costs of living. An important aspect you may want to take into account is how your quality of life will be affected when you move. A higher salary does not necessarily mean a better quality of life. It is not guaranteed that you will be better off.
When you first arrive in a country you may need to be able to pay for things such as rent, set up costs, deposits, a car and others. It is a good idea to have a good amount of emergency reserves of cash for unexpected costs that might arise.
When I made a move from Korea to the USA, I was very thankful that I did have emergency reserves of cash. I needed to buy a car, put a hefty rental deposit down, pay for motel costs for a couple of weeks,...
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