10 Tips to Save Money while Living in Australia as an Overseas Worker

 10 TIPS TO SAVE MONEY WHILE LIVING IN AUSTRALIA AS AN OVERSEA WORKER


As an expatriate, you are most likely to waste a lot of money if you are unsure how to transfer money online. The basic purpose of most expatriates to travel abroad is to find a better employment opportunity to earn a fairly reasonable income to support their families back home.

In the process, they also try to do everything possible to save money and increase their families' financial support.

It is, therefore, important for you to be aware of the best means available for transferring your remittances across borders.

This blog will show you how to save money while you live in Australia as an expatriate.


A brief background about living in Australia as an expatriate

Australia is a robust economy with multiple job opportunities in different sectors. Due to accommodating job-seekers, Australia has been among the top expatriate destinations for migrants worldwide.

Apart from its strong job market, the Australian education system is considered one of the best in the world, as its degrees are recognised worldwide.


A quick look into the Australian economy statistically for a better understanding

  • Australia is the 13th largest economy worldwide, with a nominal Gross Domestic Product (GDP) of $1.748 trillion.

  • It is the 18th largest economy in the world, with a Purchasing Power Parity (PPP) of $1.6 trillion.

  • It has a nominal GDP per capita income of $67,464, ranking 11th worldwide.

  • Its PPP per capita income is $61,941, ranking 19th globally.

  • Its major financial sectors include services, construction, mining, manufacturing, and agriculture.

It is obvious why Australia is a preferred expatriate destination from these statistics. You can find work in Australia easily, provided you have the necessary education, experience, and essential skills.

How can I save money while I live in Australia as an expatriate?

Whatever the purpose of your stay in Australia or any other country for that matter, your income and expenses can fluctuate greatly. Whether you live in a foreign country as an expatriate to earn a living and financially support your family back home by sending money or education, etc., you have to ensure that you save as much as possible by following a few tips explained below.

Open a local bank account.

It is the first step toward saving money while you live abroad. It has multiple advantages. Firstly, your payment cycle begins and continues uninterrupted as foreign employers prefer bank-oriented financial activities. And secondly, with a bank account, you will be able to manage your finances better.

Consider different transportation options for traveling.

If you live in a place that offers multiple traveling options to move around, make sure you draw comparisons among different options in terms of fare, the time a certain mode of traveling will take, and convenience.

Do not just rush for any one option without considering the others. 

Beware of your food and drinks, and plan ahead.

It is easy to get carried away by the salivating food deals offered by eateries in a foreign land. Remember that these can bankrupt you if you adopt a casual approach towards them and do not plan ahead. So, plan ahead for every meal that you will have outside.

Walk or ride bikes

If you walk around the city, you will be able to explore the city thoroughly. The same you can do at a slightly higher speed if you buy a bike. This way, you will save a lot of money on transportation and commuting. 

Look for free entry days into entertainment avenues

Many theaters and museums offer free entry days or reduced-price tickets. Keep an eye out for such days to cut costs. You can enjoy free entry into certain museums and theaters, etc., absolutely free if you grab such an opportunity.

Get discounts if you are eligible.

If you are a student, you are most likely eligible for student discounts, which require you to show your student ID card. You can apply this to entertainment, transportation, and even food. So, make maximum use of these discounts.

Ask your new friends to teach you the language for a friendly exchange

Learning the native language is essential for better integration into local society and professional growth. You can learn languages in institutions for which you will have to pay a fee, but why not ask your new friends in the foreign country to help you learn the language in a friendly exchange for food, coffee, a ride, etc.?

Consult the locals for everything you do

You interact with the locals and spend time with them. So, make sure you consult them for everything you plan to do that involves alternatives. For example, ask the natives about which mode of traveling you should take, which will be cost-effective if you want to visit the city's outskirts.

Use financial apps to budget.

You must use financial apps to manage your budgets, which help track every penny you earn and spend. Besides, these apps help you budget for the month in advance and set limits, crossing which the app will alert you.

Save on currency exchange rates.

Check for the service providers that will help you save money by offering you favorable currency exchange rates each time you want to send money online back home. So, choose your service provider wisely. 

Following these tips will help you save money during your stay abroad. 


ACE Money Transfer – money transfers made easy

You will pay a low fee, get speed, safety, live and competitive currency exchange rates, 24/7 service access, over 350,000 pickup locations worldwide, and much more in your money transfer(s) online with ACE Money Transfer from just one stop. 



  • Australian Economy

(Economy of Australia - Wikipedia)


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