Last updated 21 July 2016

Setting a Relocation Budget

Setting a Relocation Budget  - Expatfinder.comA mixture of anxiety and excitement is what it feels like when moving from one place to another. Just with the idea of packing numerous boxes, trying to figure out which goes to the dump or needs to go on transit is not a piece of cake.

The goal is to be financially and physically ready when relocating; an expat must have the right and prepared set of mind and body for him to function very well. Being financially prepared is the key factor of a successful move, to be able to draft out a relocation budget plan would be a great idea.

Before anything else, start the moving preparations with a pen and a piece of paper. By listing down all the important things that would be needed for the relocation, an expat’s mind would be organized and the actions would be towards packing and relocating within the planned budget and on-time.

The first thing that should be on the list is to declutter unnecessary things at home. In that way, the expat is for sure hitting two birds in one stone, wherein unwanted and no longer useful things are disposed and at the same time, important things are slowly being packed and ready for relocation. Click here, to get some tips on what to pack when relocating.

Once done with decluttering unnecessary items, the next step is to list down moving preparations which has anticipated expense. These would be the packing materials, moving company and moving insurance.

Packing Materials
As much as possible, recycle used cardboard boxes or containers. This may help lessen the cost for purchasing packing supplies needed. Boxes, bubblewrap, tapes, markers and mattress covers are some of the usual packing materials needed; making an estimate on how many are needed must be placed on the list.

Moving Company
When relocating overseas, it is not too easy to do it all by yourself. Hiring professional movers  might be costly but the time and organized manner of having items transported must be taken into consideration. A moving company fee is one of the highlights on a relocation budget which consists of the fuel charges and labor. Have at least three options for moving companies can be ideal so that an expat can weigh which is preferable.

Moving Insurance
Anticipating unfortunate events such as loss of items or damage to boxes during transit are not covered by the moving company. It is best to secure these items with a moving insurance which will also keep an expat from spending more than what is on the budget.

Being faced with the anxiety of packing and trying to fit in to the new unfamiliar destination where an expat would like to live can be challenging, add up the pressure of having to pack things making sure that everything has been included and none was left behind. Being financially unprepared in the new country of relocation is the same feeling as trying to cope up with culture shock. It is recommended that a tax advisor is present along the way for moving to a new place overseas. These tax advisors can provide financial assistance and are certainly knowledgeable with anything financially related.

Budget, Relocation, Moving

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