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Setting your rental budget
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.
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How much rent can you afford?
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 – ap...
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Renting abroad: The bills
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 bas...
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Choosing your preferred accommodation type
- Studio: They tend to be more affordable and more available, though the definition of a studio does vary depending on the location. It usually means living alone.
- House: This is a popular choice for many making the move abroad. A shared house is attra...
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Renting abroad: Upfront costs
Before arriving, you can expect to pay:
- Deposit. Typically, this equal to a month’s rent, but this can vary per advertiser and from country to country. Provided you uphold your end of the contract and there is no damage to the property, you should get the dep...
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Creator. Beer ninja. Travel lover. Twitter evangelist. Lifelong writer. Zombie expert.
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Steps of the zero-sum budget
- Determine how much you make on any given month.
- List your bills: Once you determine how much money you'll make this month, figure out how much money you need to spend next month.
- Compare and contrast: Once you see your monthly income and your monthly bi...
Budgeting your money is the cornerstone of a sound financial plan, and seeing all the numbers in black and white can offer valuable perspective on where your mone...
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Goal that is aligned with your actual desires
If you have a very clear goal that is aligned with your actual desires (that’s why you need to be vulnerable), your subconscious will seek out opportunities that are aligned with it.
However, if you have a goal that you don’t actually really want (or you think that you should want it but it...
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