7 Money Tips to Consider Before Moving From the City to the Country

Are you planning to move to the country or your dream country?

Keeping aside from city life and looking for a slow pace, relaxed, and relish life is a good idea to remove hustling. Settling in the countryside will take you to a new location where the locality is unknown to you. Blending with a new culture and society may take time to accept things. Big landscape, daily interaction with nature, fresh food on your table, and less pollution will truly nurture your soul with peace. Although, your routine life may miss the leisure lifestyle which was indulged with weekend parties, get together, cinema and much more.

Let’s walkthrough with some tips that can useful when you are planning to move to country:

Proper Planning: Before moving, there are two main things that should be your plan part.

  1. Money: How much money do you need?
  2. Funds: Funds available with you right now.

All that matter is the money you need.

  1. Travel cost

Your visa and ticket cost will come into the first expenses. Visa cost may vary depending on which country you are travelling to and what is your visa type. So, it’s important to add it to your expense list.

If you are travelling on a work visa, provided by your employer, the cost will be paid by them. The ticket price could vary. However, there are various factors involved such as what’s the season, which airlines are and how many days before you are going for the ticket. All you need to choose wisely by considering various factors in ticket booking. Your currency value also plays a major role before stepping into the new country. The currency rate varies from time to time. You can exchange money with your local currency whenever you’ll get the best conversion price.

  1. Bank accounts

Banks may charge you if you don’t maintain the minimum balance. If long term transactions may not take place, then the odds are your bank may penalty you with a hefty amount.

Sometimes your investments and your loan may be from multiple bank accounts. Investments or savings you can consolidate in one account but transferring the loan may challenge you or add the extra cost due to different bank interest rates. You can opt for the best banking options, and decide whether you need a single account or more.

So choose one bank that can offer you the best service on your account where you can transfer the money in the future without any hustle.

  1. Liquidate your assets

A word of advice: how you liquidate your investments to look forward to in which country you are going to settle down.

However, it is a subjective decision whether it is profitable or not. So you need to check the taxes and rate of interest in which country you are moving to. After that, decide how much money you have to move.

If you’ve invested in the market and it would be profitable in the future. Now, it is your call to consider your financial goal whether you have to withdraw the full or partial amount.

Apart from this, your real estate is also one asset, which could be difficult to manage from a long distance.

Hence, paying maintenance bills, electricity charges or rent can also be a burden. So choose wisely whether you have to keep the property or not.

  1. Watch your policies

When you’re changing your country, your health insurance, home insurance, vehicle insurance policies should be stopped before moving to. If your policies are synchronized with banks with the auto pay option that case you need to deactivate it. There’s no meaning to pay for medical or vehicle insurance when it is no longer required. This is due to the fact that you will not come back for any medical illness or any medical claim when you have been settled down.

  1. Living cost

The first thing that comes into mind is where you will live & what would be the cost or mortgage. So spare the money for the house. Initially, if you are planning to live on rent it will be a better idea instead of paying a huge amount to buy the house. Spending time at a temporary house will clear a lot of things which can help you in future planning. Before owning the home, you should check the best option after calculation either ready to move property or owning the land, then buy your own house. Overall tax structure should be clear because it will impact your living cost.

  1. Commute

When you are living in the city you have both the options either public transport or your vehicle for daily commuting. Although in the countryside public transport could be a challenge. So your residing location is the matter, which will decide whether you require your vehicle or not. The second-hand vehicle option is also good. Most of the country people adapt to bicycle culture which keeps you fit from the health and wealth side. For short miles, a bicycle is the best option. Thus, keeping commute cost in mind and ensuring a sufficient budget in the pocket.

  1. Food

Take the understanding about the food cost via the internet. In some countries, eating outside or buying food items costs money. Explore the items or veggies, which you can produce on your own, will help you to save money. Before moving, take a hand on experience about farming. Farming in the backyard or the top of the house is very popular nowadays. If you are unfamiliar with farming, you can take help or the internet is the best option to start doing it.

Final Thoughts

Moving with proper planning, calculating everything which can impact the cost to be considered before moving to the country. Well preparation along with the help of a financial advisor or person, who is already in the same job, can help you better. Moving without hustling and having perks of happiness and joy will be your best travel trip.

Want to Share your thoughts with us? You can comment below!

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Home