How to Save Money While Living Abroad Without Sacrificing Comfort
Many people assume that living abroad while saving money means living frugally and foregoing many of the comforts typically available to people there. This doesn’t have to be the case, and we will look at how smart planning can help you to live comfortably and affordably. We will look at practical ways to spend less money while still maintaining a lifestyle that feels fulfilling and pleasant.
Choose Smart, Comfortable Housing
Now, more than ever, there are excellent opportunities to live both comfortably and cheaply. The rise of coliving buildings and communities means that you can have your own private room with shared amenities that often cost less than a private apartment, and make it easier to make friends as well.
One other way to save money on accommodation is to ask if a longer lease is available. Most leases for a year or more will be a cheaper option. If you are living in the country full-time, it makes sense to take advantage of this. You should also look at whether you are in the city centre or further out and weigh up any commuting vs. the lower cost of rent in outlying areas.
Eat Well Without Overspending
Eating well and staying within a budget can be challenging, but cooking at home can help. Be sure to brush up on your cooking skills and learn how to prepare a large variety of foods. Choose bigger supermarkets rather than smaller local shops if you want cheaper prices, as some smaller shops charge more for the same items. Be sure to take advantage of special offers and money-off vouchers.
Batch cooking can also help to save money. This is essentially making many of the same meals in bulk, using the same ingredients, then freezing what you don’t use immediately. It is also a convenient way to live, knowing you already have options for dinner that just need reheating.
When you eat out at a restaurant, make sure it is somewhere with great prices and use any meal deals to get a better price. If you are ordering takeaway, larger orders can often be cheaper, so try to do this with friends to keep the costs down for everyone.
International Communication: Stay Connected Without High Costs
Staying connected with family and friends in other countries can be one of the challenges of living in another country, but international calling plans can be a great way to keep costs down. It is really easy to use them and totally secure because you are using an established network provider to make your calls. Call quality tends to be very high when using this option.
Using mobile apps over wifi can also be a great way to save money on calls, though the call quality can sometimes suffer a little, depending on the strength of the wifi connection.
If you don’t need to call family abroad, it may be cheaper to get a local SIM, so you can take advantage of in-country data deals from mobile phone providers.
Banking & Money Transfers: Save Quietly in the Background
Most of the banking costs come in the form of fees when exchanging international currencies. Look into the possibility of multi-currency accounts in order to minimize currency conversion fees. If you are withdrawing money from ATMs, look for the machines that have the lowest fees, and also withdraw more money at a time, so you minimize withdrawals. Many machines will charge per withdrawal, so this may save you money in the long term.
If you are sending money home from the US, be sure to pick international money transfer apps like BOSS Money, which has low fees and competitive exchange rates.
Enjoy Entertainment & Culture for Free (or Cheap)
One of the most fun aspects of moving somewhere new is immersing yourself in cultural activities and taking in the sights. This can be expensive or cheap, depending on how savvy you are when doing it. Museums and art galleries are often free or have specific free days to visit, so make sure you use these.
Join local communities on social media, so you can find out about what is happening in your area. This way, you can carefully curate what you do and see, saving money along the way.
Student or expat discounts are often possible, so it is worth doing your research to find out what is available to you.
Move Around in Comfort Without Overspending
Most cities have dedicated transport passes that you can sign up for, which allow unlimited travel over the course of a week or month. This is a sensible purchase to allow you to move around freely if you don’t have a car. Cars can often be a very expensive option and aren’t one we would recommend to save money if there is good public transport available.
There are also likely to be local apps for organizing rideshares. This can make it a lot easier to navigate a new city cheaply and you may even make new friends this way.
Another excellent option is to use e-bikes. Many cities have these, and they can be hired and returned for very little money, while being an efficient and healthy way to travel.
Conclusion: Comfortable Living Doesn’t Have to Be Expensive
Living in a different country really doesn’t have to be as expensive as many people assume. If you plan carefully, you can minimize the costs of accommodation without sacrificing quality. You can also save a lot of money by cooking meals at home, rather than eating out all of the time or ordering takeout.
Shopping at larger supermarkets can save money, particularly if you are part of their loyalty card schemes. Smaller shops will tend to charge more for many staple items, which can add up.
International calling can be made much simpler and less expensive by using international calling plans, and buying a weekly or monthly travel pass can lower the costs of getting around.
