Financing: The most important costs of emigration at a glance. The wish to realize oneself in another country or continent entails financial burdens that should not be underestimated. Anyone who deals with the topic of emigration for the first time should focus on clear planning of specific costs from the start. Otherwise, you will not have enough change in the first few days to get off to a safe start.
Put together the seed capital
That no emigration is free may come as a surprise to few. Nevertheless, the country, the region and cost-specific criteria decide on the financing of the first few months. Before the suitcase is packed, the actual costs are calculated.
In this way, emigrants avoid unforeseen cost traps or a critical time that puts their own project to the test. In the worst case, there is a risk of returning to their home country with no financial means or reserves. In order to get around this, it is important to ensure that there is consistent financial preparation.
Calculate the cost of living
When it comes to emigrating to another European country, the costs of living are often similar to those in Germany. Outside of Europe, things look very different again. In South America, Asia and Africa in particular, living costs are only a fraction of that in Germany. Caution is advised when emigrating to major cities. Here the costs increase many times over.
So it is helpful to find out about the fixed costs, such as water, garbage, rent and other ancillary costs for heat and electricity, in order to set the budget for each month. At first, emigrants should get used to the idea that their own products are often many times more expensive abroad. This is due to the customs and import prices. Those who emigrate therefore get their hands on local and regional products.
Nevertheless, it would be an exaggeration to summarize the individual costs in detail. Here it is sufficient to orientate yourself on average values at the beginning in order to get a point of reference for your own financing. Especially without a specific job on site, the budget should cover at least the first 12 months so as not to be under pressure from the beginning to raise funds.
This makes it possible to take a look around and tackle projects in order to create a financial basis. One of the common mistakes is a lack of a financial buffer to absorb inconsistencies abroad. If you don’t take into account exactly this cushion, you can fall over with the next headwind and put your entire existence at risk.
How to finance an upcoming emigration?
If the individual costs are now transparently compared, they are compared with your own assets or budget. Especially when it comes to climbing up the career ladder on site and starting a new phase of life, financing can put the springboard within reach.
Here, different conditions have to be weighed up, compared and taken out a loan with a financial service provider that is flexible, safe and easy to trade. In addition, enough time must be allowed for in applying for the financial means. It will hardly be possible, for example, to get funding from Germany from the United States of America and to get the urgently needed funds as quickly as possible within a few weeks. In addition, the personal securities and conditions form an essential part in the approval of the installments and assets.
Financing the housing situation
The choice of apartments or houses is not always easy in other countries or continents. At best, it is important to get an initial overview of the living situation on site before emigrating. The same applies to the costs incurred, which often go well beyond the rent. Many landlords charge an advance payment of several months’ rent as well as a rental deposit. In some states and regions, there is no chance at all of getting an offer of housing without a real estate agent. These additional costs should be included in the budget from the start.
The same is true of possessions such as furniture, electrical appliances or personal items that emigrate with. If you take a large part of your household items with you, you have to plan the costs for the transfer and also find a suitable property as soon as possible.
A targeted inventory of the existing furniture quickly finds out the benefits and added value of your own possessions. Anyone who moves across the ocean for a few years for professional reasons can have their furniture stored in Germany as a security. This storage is often many times cheaper than a new acquisition or transfer. On the other hand, there are opportunities to advertise used furniture in advance on the Internet in order to turn it into cash.
Analyze the job market and calculate with the family
It is extremely risky to emigrate without information about labor market conditions. The qualification, the existing training, the degree and the degree are linked to the offer on site. In addition, it is advisable to apply from Germany and send an application via online conferences, via Skype and by email. With a job offer in your pocket, it is much easier to calculate than to enter a blind job market.
Emigration with the whole family is particularly complex. Here parents not only take responsibility for their livelihood, but also for their children. Kindergarten, school, care and living conditions form the elementary points of emigration in order to restore security to the whole family at the new place of residence. In addition, it must be taken into account that the children do not yet speak the language in the target country, but will learn it faster than their parents in the next few months. Therefore, parents should prepare for the most important and catchy dialogues in a language course.