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Properly managing your finances abroad will have a direct and positive impact on your experience.
The majority of your funds will most likely go on rent. Nowadays, it isn’t uncommon for people to spend around 40% of their monthly income on rent and that’s why, when looking for a home, you need to have clear figures in mind.
Look at the net monthly income you will have abroad and then calculate how much you will need to spend on: Food, insurance (e.g. Health, Travel), transport, entertainment/ leisure, other ongoing costs you’ll have (phone bills, subscriptions, payments back home, etc.)
Whatever’s left is – approximately – what you can allocate for monthly rent. It’s always wise to keep a financial cushion of one or two hundred, either to save for the future or for one of life’s unforeseen events.
Once you’ve settled on your absolute rental maximum, you can apply this figure to all filtered accommodation searches.
Maybe your utility bills are not included in the monthly rent. In that case, you will need to pay those on top of the monthly rent, and potentially to someone other than the landlord, e.g. an energy company.
If a bill is excluded from the monthly rent, then it will usually be calculated based on actual usage rather than a fixed amount.
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