How to move abroad on the cheap!

in LeoFinance3 days ago

I'm pretty much set to leave the UK for Portugal now, with the intention of having an explore, finding some land to buy there and then living on said land.

The whole idea behind this move is to reduce my day to day cost of living expenses, ideally halving them from £1600 a month, which is roughly what they are now, to nearer £800 a month.

I've just calculated that the total 'capitalisation' cost to get everything prepped for me to move abroad is around £3 400, and that's so far, with only my very basic needs covered.

This means that if I spend nothing else and I successfully reduce my monthly outgoings by £800 then the move would have paid for itself within five months.

However, given that the plan is to buy land, that £3K figure is likely to go up considerably, probably reaching nearer £15K in the not too distant future!

Budget moving expenses breakdown


I've included a more detailed breakdown below, but the main categories are as follows:

cost_move_abroad.png

  • £2050 to prep the house - a few things needed doing! NB I know the bar shows £1450 but I just remembered I forgot the cost of the new carpets I had fitted!
  • £550 'off-grid' purchases so far - mainly a tent and solar stuff
  • £400 - roughly what I'll need to pay the management company up front to get renting my house (ouch)
  • £440 - travel to Portugal, including a luxury 8 nights in an Air B and B when I get there.

The house is by far the main expenditure


If I add on the carpets then yellow and green below are around 70% of the total cost of moving.

chart.png

However, prepping the house for rent does involve a fairly substantial income of several hundred pounds coming in every month! NB The income isn't enough to cover the cost of maintaining the house for rent, mainly because I'm on a rapid repayment term on the mortgage, and it does keep my options open if I want to return. So pricey, but it's primarily about security!

The total breakdown


Without colour or carpets soz!

costofmoving.png

Final thoughts - £3.5K to move abroad is pretty good!


I'm quite pleased with my costs so far - £3500 to prep the house, get it rented, buy some basic gear and sort out my basic living expenses is OK by me, much better than the £11K it cost me to sell my flat and buy my house back in 2018.

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It is a good plan for sure.

Good evening. It is really a big job to make such a cost schedule. But it is necessary to understand all costs and plan to save money. I like it, a nice thoughtful post. Thanks you.

Pretty cheap really, but there are bound to be unforeseen expenses. Hope there are not too many of those. It's an adventure for sure and will give you plenty of material for posts.

I always over plan for such things, I've got pockets of money stashed here and there just in case.

Hopefully lots to write about and I won't be entertaining too much due to disasters.

We know you really like to analyse things, so I would hope you are prepared for just about anything. Exciting times!

!ENGAGE 10

Thank you for your engagement on this post, you have recieved ENGAGE tokens.

Oh I will for sure be following your journey I am also thinking of looking at Portugal since you can get away with speaking English a fair bit there and they have no tax regulations on crypto so I an just move my earnings into a stable coin and more BTC and just get some cash for living expenses.

Obviously you still have the luxury of the pound still having value for me the Rand is inflating so fast so ill have to see if my budget can manage

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Oh I didn't know they were crypto friendly, that's another bonus!

Sounds like you need to move sooner rather than later!

If you work online of course it's not so much of an issue?

Yes I do work online, that's not much of an issue, it's more all the admin and legal loops you have to jump through plus we're still on lockdown no international travel. I am moving more of my money into crypto and preparing for it though

practical question. How are you going to go online during your "camping"?
Since most of your income is online based you are going to need a decent internet connection.

Mobile internet, I can get unlimited in Portugal for 30 Euros a month. The occasional trip to a cafe should suffice if ever I need to upload video, which is rarely.

Hopefully!

I can do a lot of writing offline if necessary.

just make sure you are not buying in one of the holes :-)

image.png

Hey cheers, I remember a post by @eco-alex saying there's good internet in at least some of the area I'm buying in. Worst case scenario, I have to get a mobile office set up and take a 10 minute drive if I need mobile internet I think!

Or I have the back up plan of renting somewhere!

!ENGAGE 20

Am more concerned about how fast you can settle after relocation. If it won't be too much of a hassle, then it's a solid plan

Oh it'll take me months to settle down, several months at least. Not even sure where I'm staying after my first week. Play it by ear!

This is best plan