Estimate Your Cost of Living before Making an International Move

foreign currency exchange in Chandigarh

Are you thinking about settling abroad? Or are you making a move on short term basis for studies or job? Before booking your plane ticket or looking for visa options it is vital to calculate the cost of living. You can search for Currency Exchange Company in Chandigarh and find a great exchange rate. There may be places that have affordable rent but have higher tax rates or school costs. Here is how you can assess your lifestyle and calculate the typical cost of living.

Housing or Rent

You can easily find affordable accommodation anywhere in the world as long as you are not planning to travel like a tourist. Once you find a place where the property is available at reasonable prices you can start deciding if you want to take it on rent or buy it. If you plan to live in the area for less than 3 years it is recommended to rent a house. This is because the rental costs are fixed, plus there are no headaches of maintenance and repair. The contracts can be ended when you want to go home. You can go for a furnished or unfurnished home.

Utility and Internet Bills

While you are negotiating rental price and furnishings you can also discuss on the utilities that are included. In some countries, the cost of water, electricity or both is covered by the landlord. On the top of these basic needs, there may be additional fees that you may need to pay at some places to maintain a comfortable lifestyle. The utilities may be included in the rental cost. You may be expected to pay the internet bills in general. The costs, type, and speeds of the internet may vary considerably across the world.

currency exchange company in chandigarh

Transportation Costs

Before you move, think how you will be going around in the new country and calculate if you can afford it. You may choose to move into a city without a car which may mean that you will save on petrol, parking and insurance costs. However, the saving may be eaten up by the cab fares or rail passes. Most of the countries have hefty costs of public transportation and few also lack in proper public transportation coverage. So you may need to do a proper research on the modes of transport available and calculate the amount that you have to spend.

Food and Groceries

When calculating the food costs in your new home there are two factors that need considerations, i.e. size of the town compared to others across the world and where the food products are grown. In general, the regionally grown fruits and vegetables are cheaper than their imported counterparts. It is better to shop at local markets as you can save money and will also be able to help the local farming economy at the same time. Moreover, the local food is a healthier option when compared to processed food.

Keep above points in mind and calculate the cost that needs to be incurred on healthcare and medication before taking the final decision. You can order foreign currency exchange in Chandigarh online as well.

What do you think about the points we discussed? Do you want to add anything? Please comment below as we would love to hear from you!

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