Save enough to cover moving costs, setup expenses, 3–6 months of living costs, and a 10–15% contingency buffer.
Moving abroad is expensive. Airfare, deposits, and visa fees add up quickly. Your first paycheck may also take weeks to arrive. But you can plan your savings target and build it at your own pace.
Not sure what shipping will cost? Our guide to international moving costs covers prices by shipment size, service type, and route. Use its estimate in your savings calculation.
1. Map Out Your New Living Expenses
Before setting a goal, find out what daily life costs in your destination. Overlooking these expenses can lead to surprises after arrival.
Housing. Landlords may ask for 1–3 months’ rent upfront, sometimes more. You may also need a local guarantor or proof of income. Both can be difficult before you start working.
Transportation. Budget for public transit or a car and insurance. Include one-time costs, such as a driving permit or license conversion.
Groceries and daily living. Costs depend on how often you cook or eat out. Imported goods can cost more in some cities.
Utilities. Include electricity, water, internet, and phone bills. Some providers require deposits if you lack local credit history.
Healthcare. You may need private insurance before qualifying for local coverage. Some public systems have waiting periods for new residents.
Also budget for one-time expenses, including visas, residency permits, immigration lawyers, and possible taxes. These costs can arrive together, when you need cash most.
The sample budget uses the same totals as the opening example. Here, $5,000 represents shipping costs; other moving expenses may increase your total.
Build a similar spreadsheet with separate columns for one-time and monthly costs. Note how confident you are in each estimate. This shows which numbers still need research.
2. Research the Real Cost of Living
National cost-of-living averages can be misleading. Lisbon may cost much more than a smaller Portuguese town. Research your city or neighborhood using several sources:
Cost-of-living comparison sites (Numbeo, Expatistan). Use them for a first estimate, then check the numbers elsewhere.
Local expat forums and Facebook groups. Members share rent and grocery costs. Their experiences may differ from yours.
Rental listing sites. Current asking prices can be more useful than older averages.
Local subreddits and regional forums. Some have budgeting guides for newcomers.
Check visa fees, insurance requirements, and when you can start earning. Your work authorization can affect how much savings you need.
3. Calculate Your Emergency Fund
An emergency fund helps cover your living expenses while you settle into your new country. Aim to save enough for 3–6 months of essential costs. This includes rent, groceries, utilities, transportation, and healthcare.
How much you need depends on your situation. If you already have a job and accommodation arranged, three months of savings may be enough. However, you may need a larger fund if you plan to look for work after arriving.
Consider saving closer to six months of expenses if you're moving with family or dependents. Unexpected delays, such as finding housing or starting a new job, can also increase your costs.
For example, if your monthly expenses are $2,000, you'll need $6,000 for three months or $12,000 for six months. Keep this money separate from your moving costs and initial setup expenses.
4. Build in a Contingency Buffer
Unexpected costs can disrupt your moving budget. A delayed visa may mean paying rent in two places. You may also face medical bills or unfavorable exchange rates. A contingency buffer can cover these expenses.
Add 10–15% of your subtotal. Include moving costs, setup expenses, and your emergency fund. Reserve this extra money for unexpected costs.
Research common surprises at your destination. These may include currency swings, import taxes, or slow paperwork.
Automate a monthly transfer. Saving gradually is easier than finding the full amount shortly before moving.
Watch exchange rates. If your money is in another currency, consider converting some of it early when rates suit you.
The Bottom Line
There is no single savings amount that works for every international move. Your budget will depend on your destination, lifestyle, and personal circumstances.
Start by calculating your moving costs and one-time setup expenses. Then add enough savings to cover 3–6 months of essential living costs. Set aside an extra 10–15% for unexpected expenses, such as delays, additional fees, or changes in exchange rates.
Planning ahead can help you avoid financial stress during your move. It also gives you more flexibility while settling into your new country.
Still unsure how much shipping your belongings will cost?
Our guide to international moving costs explains what affects moving prices, including shipment size, destination, and service type. Use it to estimate your costs and build a more accurate moving budget.
