Five Tips to Save Money When Working Abroad
<p><span style="font-weight: 400;">There are a lot of reasons why a person would pull up stakes and work abroad, but it would primarily be because of money. It doesn’t mean that you’re sorely lacking, it just means that you have a higher goal financially. It would make sense, then, to take good care of your hard-earned cash. Here are our:</span></p> <h2><span style="font-weight: 400;">Top Five Tips to Save Money When Working Abroad</span></h2> <ol><li> <h3><span style="font-weight: 400;"> Prioritize Bulking Up Your Emergency Fund</span></h3> </li></ol> <div class="wp-block-image wp-image-4949 size-full"><figure class="aligncenter size-large"><img loading="lazy" width="1024" height="870" src="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534-1024x870.jpg" alt="tips money working abroad" class="wp-image-9868" title="tips money working abroad" srcset="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534-1024x870.jpg 1024w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534-300x255.jpg 300w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534-768x653.jpg 768w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534-1200x1020.jpg 1200w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-221534.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption>Save up!</figcaption></figure></div> <p><span style="font-weight: 400;">It’s natural to get swayed into upping up the ante when it comes to spending, because, hey, you earned it. Remember your goals, though, and save up. Having an <a href="https://www.saveandinvest.org/military-everyday-finances/start-emergency-fund" target="_blank" rel="noreferrer noopener">emergency fund</a> will open up a lot of options for you. It’s easier to make decisions when you’re not under any financial pressure. </span></p> <ol start="2"><li> <h3><span style="font-weight: 400;"> Stay Away From Temptation</span></h3> </li></ol> <p><span style="font-weight: 400;">When you’re working abroad, you will find yourself with a lot of time. You may find yourself spending money just to relieve boredom &#8211; this would be a surefire way to go back home without any savings. Take this opportunity to <a href="https://blog.trueprofile.io/remain-competitive-cutthroat-world/" target="_blank" rel="noreferrer noopener">invest in yourself</a> by learning additional skills, or better yet, get a <a href="https://blog.trueprofile.io/productive-spare-time/" target="_blank" rel="noreferrer noopener">hobby</a> that would earn you extra money on the side.</span></p> <ol start="3"><li> <h3><span style="font-weight: 400;"> Share Expenses</span></h3> </li></ol> <p><span style="font-weight: 400;">Chances are great that there will be a whole load of overseas contract workers in the company that you work for. You will save more if you get roommates/flatmates and if you split expenses with them. Buying in bulk would actually be cheaper and would not be a problem since you will be sharing them with your friends.</span></p> <ol start="4"><li> <h3><span style="font-weight: 400;"> Write Down Your Expenses</span></h3> </li></ol> <p><span style="font-weight: 400;">Sticking to your budget is effortless if it’s documented. You can’t make excuses that you never buy anything if you write down everything that you buy in a given month. You may not think that that $4.00 latte you gulp every morning will not amount to much. If you added it up over the course of a month, you paid $120.00 for something that you could have had for just $10.00 or less.</span></p> <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="682" src="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897-1024x682.jpg" alt="tips money working abroad" class="wp-image-9870" title="tips money working abroad" srcset="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897-1024x682.jpg 1024w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897-300x200.jpg 300w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897-768x512.jpg 768w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897-1200x800.jpg 1200w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/pexels-photo-834897.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <ol start="5"><li> <h3><span style="font-weight: 400;"> Learn to Say No</span></h3> </li></ol> <p><span style="font-weight: 400;">When you get a windfall, you will suddenly have a lot of friends. It’s the same with people working abroad. You’ll find yourself having twice the amount of relatives, and four times the amount of friends. The cousin whom you haven’t seen since your Mom gave birth to you will hit you up for money. That “friend” who you can&#8217;t recall ever seeing may remind you of your shared good times and then ask you for a donation to his favorite charity. Learn to say no and practice it. You’re working hard for your future, not theirs.</span></p>