She Strengthens

Rethinking Your Spending Priorities Abroad

Have you ever stopped to think about the things in your life that feel like “necessities”? Moving to a new country can be a catalyst for reevaluating your spending priorities. When you’re immersed in a different culture and dealing with a new currency, you’re forced to confront your spending habits.

A Fresh Perspective

Members of our community who have lived abroad share their experiences and how they adapted to new spending habits. Trevor, who moved to Spain, switched to using cash for most expenses, including rent. “The physical act of withdrawing money and seeing my balance every time forced me to be smart with my small monthly stipend.”

Budgeting Challenges

Tara, who volunteered in France and Croatia, had a fixed budget and shared grocery expenses with flatmates. “Having that set amount and it being more than enough really helped. And it was very freeing, like I never stressed over money and could use my savings to actually travel and enjoy life.”

Cash-Only Systems

Karina, who studied abroad in Italy, adopted a cash-only system due to bank fees. “Every week, I would withdraw the maximum amount allowed by my bank and make all of my expenses fit.” This approach helped her prioritize travel and avoid unnecessary spending.

The Psychology of Foreign Currency

K. notes that foreign currency can feel like “funny money” when the exchange rate is high. “I spent way more on random little things while assuring myself I was saving overall from a lower cost of living.”

Transportation Costs

Jess, who moved from Canada to the U.K., found that transportation costs were a significant expense. “I take two buses to work, which means two monthly bus passes. Add Uber rides, trains, and paying for buses that I don’t normally catch as part of my daily commute, and I find that I’m left with very little money left over at the end of the month.”

A Cash-Based Society

Nicole, who lived in Germany, discovered a cash-based society where coins were essential. “I wouldn’t bother going to a store or buying things if I didn’t have the cash, which obviously made me less reliant on credit and actually made me more careful in terms of not going over budget.”

Monthly Payments

Rebecca, who lived in China, had to adjust to receiving payments only once a month. “Getting paid monthly feels like an eternity!”

Prioritizing Experiences

Erin, who also lived in China, chose to spend her money on travel and experiences. “I knew it was temporary, so I didn’t try to save any of the money I was making. Instead, I spent money on travel and experiences so I could leave feeling like I got the most out of it!”

Adjusting to Local Currencies

Carolína, who moved from the U.S. to Chile, is learning to think in terms of the local currency, CLP. “I’ll no longer be relying on my USD savings and will be budgeting differently once I start receiving income in the next few weeks.”

Store Brands and Savings

Deirdre, who moved from the U.S. to the U.K., has started buying more store brands since moving. “Most grocery stores here are at least 80% own-brand products, branded stuff will be absurdly expensive compared to the own-brand equivalent, and there doesn’t seem to be as much of a stigma against buying the cheaper own-brand stuff here.”