7 Money-Saving Tips for Moving Abroad
Moving abroad is expensive and a tedious task irrespective of the country you choose for the relocation. Whether you're relocating for work, or family, managing costs is crucial. Several aspects of international moving may be beyond your control, but with the right planning and strategies, you can significantly reduce expenses.
However, the cheapest way to move abroad is to make wise decisions at every step by following some money saving tips.
To save your money, go through these tips on how to move internationally at a low cost.
1. Draw a plan Carefully for your budget
Since moving abroad with no money is not an option, you'll have to work on a plan to keep the move within your budget. Before you approach any moving company determine the maximum amount you can spend and break it down into categories such as shipping, flights, accommodation, and other expenses.
2. Compare quotes from International moving companies
First and foremost, instead of looking for the cheapest international movers, it's better to look for a company that gives you the best value for your money. After checking out at least 3-4 international moving companies, make sure to compare their quotes and go for the most suitable option.
3. Explore cost-effective shipping methods
In an overseas move, the items are either shipped by air or sea. If making an international move at a low cost is a big concern for you and there is no time constraint involved, choosing sea freight over air freight can help you bring down the cost significantly.
Furthermore, sea freight also gives you two options-
- Full Container Load (FCL): Ideal for large shipments as you get an entire container to yourself.
- Less Than Container Load (LCL): Best for smaller shipments, where you pay only for the space you use.
Make sure that you weigh all the options and get yourself acquainted with the pros and cons of all available shipping methods before making any decision.
4. Sell the items you don't need before your move
Selling everything you don't need is a great way of moving abroad at a cheaper rate. As the cost of shipment is determined by weight, the less you bring, the cheaper the rates. However, this doesn't mean you have to part with your most valued belongings.
For example, if you're moving to a country where it's warm a majority of the year, it's pretty likely you don't need to bring all of your jackets and coats. Go through your belongings and make a list of things you need to have and what you can live without. For the things you can live without, sell them on sites like eBay, Let go and Facebook Marketplace to make some extra cash for your move.
5. Timing of your international move
The timing of your move is one of the biggest factor in determining the cost of your international move. Firstly, stay clear of the peak moving season and try to avoid festival occasions in your host country when you are planning to move abroad.
Moving is usually costlier during such times. Secondly, book the moving company far in advance so you have enough time to sort everything out at home and enjoy great potential deals.
Also, if you are going to fly to the destination, it will help to keep the tickets costs low if you get the bookings done at the right time. The best time to buy a plane ticket for some of the top international destinations are:
- Canada: 66 days from travel date
- Mexico/Central America: 70 days from travel date
- Caribbean: 207 days from travel date
- South America: 110 days from travel date
- South Pacific: 197 days from travel date
- Asia: 120 days from travel date
- Europe: 160 days from travel date
- Africa/Middle East: 199 days from travel date
There are certain sites that send you email alerts when there are cheap flight deals.
6. Keep your documents ready
If this is your first time moving internationally, you'll need to prepare yourself to move abroad for the first time well in advance. Make sure that you have all your documents ready for international relocation much in advance. The expediting of last-minute passports, visas and work permits can tack hefty fees onto your move. You can save money on your international move by avoiding such a situation.
The processing period for a US passport is four to six weeks, and the renewal process can take up to 8 weeks. Processing times for visas vary greatly from country-to-country.
For example, the processing time for a UK visa ranges from 24 hours to 15 workdays, but a US visa can take anywhere from 60 days to 6 months to get processed.
It is common for countries to consider each applicant on a case-by-case basis, so it is recommended to apply for the documentation as early as possible in order to avoid mental strain along with additional charges.
7. Open an international bank account
Another great option to save money on an overseas move is to open an international bank account, which makes you easy to hold several different currencies at the same time.
Moving money abroad can subject you to fluctuations in exchange rates and a myriad of transaction fees.
International bank accounts are great for managing your finances during an international move because when you do need to transfer money abroad, these bank accounts come with good exchange rates and low fees.
Conclusion
Start early, compare your options, and take advantage of resources like international bank accounts, and efficient shipping methods. Following these tips will help you transition smoothly to your new home while staying within budget.
