6 tips for moving overseas with ease

Estimated reading time
 8 min

Learn all about

• How to budget and save for your overseas move
• What to take with you and what to leave behind
• Taking out insurance in your new home country
• Getting on top of your important documents

There’s a lot to think about when it comes to packing up your life down under and setting up on new soil.

It can be an exciting time when you’re about to start your next big adventure, exploring the wild and wonderful things the world has to offer. Before you pop the champagne to toast your new life, it pays to remember that a lot goes into moving continents.

We’re talking about organising visas, finding a place to live, and securing a new job (if you plan to work overseas). And that’s just the beginning! That’s why we’re here to help with six top tips for moving overseas so you can embrace your next adventure and leave the stress behind.

1. Make a budget

If you’re planning to move abroad, now is the time to build your moving overseas budget so you can get a handle on the financials before taking flight.

As a starting point, investigate the different costs involved in getting from Australia to your next destination. Things like transport to your new country, the cost of moving your belongings or storing them, visas and permits, customs and other taxes. Even things like flights and taxi fares can quickly add up so finding the best deal out there (and budgeting for it) can help you and your finances in the long term.

It’s also a good idea to research the cost of living in the country you want to move to – things like supermarket prices can influence how much you’ll need to allocate to future expenses. To make this easier to understand, convert the currency of a local shop into Australian dollars to get a better grasp of the increase or decrease in your monthly expenses.

As with any budget, it’s always smart to build in an emergency buffer, just in case something unexpected pops up (like customs duty taxes on your belongings). Our budget tool can help you create a detailed, tailored financial plan that reflects your move overseas and sets you up to thrive in your new life.

2. Start saving now

Moving overseas, while exciting, can be expensive. But anything worth doing takes some sacrifices, right? You might have to swap dinners out for at-home pizza nights for a while, but it will be worth it. By starting to save for your overseas move early, you can be better off come moving day.

Based on your budget (or a ballpark figure), you can work towards your goal by:

• Making the most of compound interest or opening a high interest-earning savings account to help grow your money.
• Cutting back on unnecessary expenses where you can, like cancelling unused subscriptions, using public transport instead of taking taxis or using rideshare, and choosing activities you can do at home instead of going out.
• Being savvy in the supermarket – stick to your list, stay in season, and remember, never shop on an empty stomach (so you don’t get home and wonder why you bought enough snacks to cater a children’s birthday party).
• Declining offers (politely) to go out on a Saturday night or get a pub lunch with your workmates. Just explain you’re saving for a big move, but you appreciate the invite and would love to catch up with them another way. You could even counteroffer with a cheaper alternative.

  Hot tip:

It might feel far off but it’s worth considering how moving overseas might impact your future savings. If you’re not earning superannuation while living and working overseas, take some time to find out how your new country handles retirement savings so you can safeguard your golden years.

3. Think about what you want to bring with you

Moving all of your earthly possessions to the other side of the planet can be a costly affair. So it pays (literally) to think about what you’ll truly need when you make it to your new home across the seas. Start by writing down a list of essentials that you want to take with you, and a list of things you can sell or donate (remember, the less you take, the cheaper the move!).

It’s also a good idea to work out how you’re going to get your belongings over the border. Packing things in your suitcase and carry-on can be good if you don’t need to bring much with you. But if you want to take big-ticket items, like furniture or artwork, then you’ll need to look into alternative shipping methods.

  Hot tip:

If you plan on bringing your furry family members along, remember to investigate quarantine regulations and timeframes so you (and your pets) know what to expect.

4. Factor in insurance

Taking out travel insurance is always a smart idea when you’re going on holiday, but it’s also helpful for a big move overseas. The last thing you need is to worry about is lost luggage when you’re trying to settle into your new home.

On top of travel insurance, consider local insurance options that you can take out to cover things like medical bills, your new home, and even a new car. If you decide to take out any insurance while you’re living overseas, make sure it covers you for the full period you plan to live there.

5. Get your important documents sorted

When you’re planning the move, it’s a good idea to give yourself plenty of lead time to apply for any important documents you might need for life in your new country. Consider things like passports, visas and international driving licences.

It’s also a smart idea to make copies of important documents from Australia so you have them on hand (just in case!), such as your birth certificate, marriage or divorce papers, and any professional qualifications.

6. Try not to feel anchored to the first thing you hear or read

Maybe you’ve decided to move overseas, but you’re not sure where. Then one day you see a headline that says, “This is the world’s cheapest place to live”. So, without any further ado, you pack your bags, apply for your visa and you’re off and away, flying towards your new low-cost life. But soon, you discover that tomatoes cost twice as much as you used to pay, and your new lifestyle is seeing your savings plummet.

This thought process is what we call ‘anchoring bias’, and it’s where we latch onto the first piece of information we hear without doing additional research. It’s important to be thorough when learning about the country you’re moving to. Not only will this help manage your expectations, it will also help you budget accordingly for the move and your new lifestyle.