Are you thinking about going down the expat route and living that wonderful life abroad that you always dreamed of? Or perhaps you want to volunteer abroad? Fantastic, now all you need is enough savings to get you there and survive. Here’s where a lot of people run into problems when moving abroad; they fall at the first hurdle because the amount of time it takes to save enough to go away takes too long.
But it doesn’t have to be this way, there are a number of ways that you can save money before you go away on your big adventure, some of the ways are not the most desirable, but making sacrifices in order to reach that end goal makes that final result all the more sweeter. So how can you achieve this? Read on to find out.
The basics
Let’s start with the basics, your life. Take a step back and look at what is financially impacting on your life and how you can potentially reduce these finances as much as possible. If you are going to volunteer abroad then you are more than likely going to have to do some fundraising, these tips can really help cut back on spending so you can channel money into fundraising.
– Do you have a phone plan? Sure it gives you unlimited calls and texts to the moon and back but it also gives you a hefty bill at the end of the month. Downgrade your phone plan to the bare minimum.
-Do you have a gym membership? Take your workout routine back to basics, go running, do press ups at home, and replace weights for anything heavy: canned food, pets, furniture, children….
-How about a cable plan, can you live without your favorite channels in the run up to your leaving? Getting rid of your cable plan can really save you a few bucks in the long run.
Parents
No you did not miss-read, you are going to have to grit and bear it. Moving back in with your folks can really save a lot of money. You no longer have that large chunk of rent money coming out of your account every month and if your parents are really kind they won’t ask for anything towards any bills, which is an extra bit of cash that goes into the expat fund.
Yes living with parents can sometimes be tough, prepare to have your private space invaded, your independence gone, and somebody watching your every move. But there are benefits to living back with your parents, think of the meals you will get cooked for you, the clothes you will have washed, and who doesn’t like to take advantage of being mothered?
Social Life
How does your social life look? Are you a complete socialite who’s well known on the social scene for being heaps of fun? Well we all know that heaps of fun means heaps of money, this leads to a slow saving process. Nights out every week can really drain your resources, I would suggest not going out at all in the run up to your departure and having the one night for everybody to say goodbye, that way your one night packs a real punch in the goodbye books and usually people will buy you drinks or pay for your night as a farewell gift.
Purchases
Do you really need that unnecessary t-shirt? What about that dress, was that the most sensible purchase in the run up to your dream year away? And those shoes won’t pay for themselves. Stop your little one off purchases and try to get into the mind set of earning whilst you’re away and buying clothes in your chosen country. Or if you are going away to volunteer then direct your energy towards raising money. Depending on where you go this can work out cheaper anyway, plus you will have all of those exotic clothes that nobody has back home, you will be cutting edge and the envy of your peers.
Transport
Review how you get around; do you usually take cabs everywhere? How do you get to work? Is there a cheaper option? Public transport can be cheaper, sure buses may take a little longer but they are usually cheaper than catching a cab, you will just have to leave the house earlier to catch that bus and get to work on time. Or what about borrowing a bicycle from a friend or family member, the ultimate in cheap green transport, plus it will make up for that gym membership you already cancelled.
And finally…
Get an extra job! If your schedule permits then why not get an extra job, you can just do some weekend work behind a bar or in a restaurant, or even do something more freelance in order to pump some more cash into the go away fund. It’s a small evil to bear that in the long run will greatly enrich your experience away. Plus if you land a job in a bar you usually go to then this is a great way to still be a semi-socialite whilst earning a little cash.
