Settling down in a foreign country may be unnerving on many counts. You will have a new culture to adjust to, new climate, new language, and the list goes on and on. However, the most important aspect of settling in a foreign country as an expatriate will be the money management part.
You will need to put your finances in order and engage tools for ready help. You will also need to be aware of the local norms with regard to investments and taxes so as to be able to forecast spending. If any sudden financial requirement arises, you can apply for a foreigner loan to a registered money lender in Singapore. Here are some more tips.
1. Choose your bank wisely
Open an account with a local bank that offers plenty of ATM options. If you wish to have an expatriate account so that deposits can be made from your home country, many of these local banks will offer that facility. You can even choose an international bank, especially if you have an account with the same bank, back home. In such cases, you may even enjoy a fee less fund transfer facility with them. Research your options well before you choose.
2. Make practical choices when it comes to place of stay
When seeking a roof above your head, getting swayed by high end homes in the outskirts of the city is easy. However, spending uselessly on cab fares everyday is hardly advisable. Considering staying close to The Orchard Road or the Central Business District where most of the workplaces are, so that you can walk to work and save on commuting charges.
3. Local food is a great alternative to expensive restaurant meals
Local foods at roadside stalls in Singapore offer a great option to save money. If you are concerned about hygiene levels, check the grading where A is the best and D the worse.
Make sure you have enough money in the bank, for that added sense of security. And approach a registered money lender for additional funding, if you need to.