How Much Money Do You Need to Move Abroad? A Realistic Budget

Most people who plan a move abroad budget for rent and flights and are surprised by everything else: the deposit and advance rent, visa and document fees, translations, furniture, health insurance before you qualify for anything local, and the months before income settles. Running out of money in the first three months is one of the most common reasons moves go wrong.

This guide breaks the money you need into three parts: one-off moving costs, a cash runway for the first months and the financial requirements of your visa. It ends with a worked example and a checklist.

The short answer

You generally need three amounts:

1. One-off moving costs: visa and documents, travel, shipping or storage, rental deposit and advance rent, setting up a home. Often several thousand in the currency of your destination, more for families and expensive cities.
2. A cash runway: enough to cover your full monthly costs for three to six months, more if your income is not yet secure.
3. Visa proof of funds: some visas require a minimum monthly income or savings. This is a legal minimum, not a comfortable budget.

Then keep a separate emergency fund. See how to build an emergency fund as a freelancer.

Part 1: one-off moving costs

Cost	What it includes	Notes
Visa and permits	Application fees, residence card fees, appointments	Varies hugely by country and visa type
Documents	Criminal record certificates, apostilles, certified translations, passport renewal	Often forgotten; translations can add up
Travel	One-way flights, luggage, transport to your new home	Extra bags and pets cost more
Shipping or storage	Moving boxes, freight, storage at home	Often cheaper to sell and rebuy
First accommodation	Short-term rental or hotel while you search	Expect higher prices than long-term rent
Rental deposit and advance rent	Commonly one to three months’ deposit plus the first month, sometimes more; agency fees in some countries	Foreigners without local payslips may be asked for more upfront
Setting up a home	Furniture, kitchen basics, internet installation, utility deposits	Furnished rentals reduce this
Health insurance	Policy before local cover applies, sometimes required for the visa	See international health insurance costs
Admin and advice	Lawyer or relocation help, tax advice, bank account fees	Optional, but useful for complex moves
Leaving costs at home	Ending contracts, cleaning, storage, notice periods	Overlapping rent can be expensive

Part 2: the cash runway

Your runway covers full monthly living costs for the first months: rent, utilities, food, transport, insurance, phone, coworking and everything else. Three to six months is a common rule of thumb:

• Three months if you keep a stable remote salary or long-term clients.
• Six months or more if you are starting freelance work, looking for a job locally or moving with a family.

Estimate monthly costs with our digital nomad budget template or the monthly budget calculator, using real local prices. Our city guides for Lisbon, Bangkok and Mexico City show typical ranges.

Part 3: visa financial requirements

Many residence and digital nomad visas require proof of income or savings. Examples, as published or widely reported in 2026 (always confirm the current figure with the consulate):

Visa	Typical financial requirement
Portugal D8 (digital nomad)	Income of at least four times the Portuguese minimum wage, about €3,680 a month in 2026 for a single applicant, with extra for family members; proof of savings is also commonly expected
Thailand DTV (Destination Thailand Visa)	Proof of savings of at least 500,000 baht
Mexico temporary residence (economic solvency)	A minimum monthly income or savings balance set in UMA units, for example about USD 4,049 a month in income or USD 68,241 in savings at the San Diego consulate in 2026; figures differ by consulate

Two important points:

• These are minimums for the visa, not budgets for a comfortable life. In some cities they are easily enough; in others they are tight.
• Consulates often want the money to have been in your account for months, so plan ahead.

Worked example: a single remote worker moving to a mid-priced European city

Illustrative figures in euros, for one person moving with two suitcases into a furnished flat:

Item	Estimate
Visa fees, documents and translations	600
One-way flight and luggage	300
Two weeks of short-term accommodation	1,000
Deposit (2 months) and first month’s rent at €1,200	3,600
Home setup (bedding, kitchen, small items)	500
Health insurance, first quarter	450
Miscellaneous (SIM card, transport cards, admin)	250
One-off moving costs	6,700
Runway: 4 months at €2,300 a month	9,200
Total cash needed at arrival	15,900
Separate emergency fund	your target, kept apart

The deposit is refundable, but you need the cash upfront. A family, an unfurnished flat or an expensive city can push the total much higher.

How to reduce the upfront cost

• Rent furnished for the first months, then decide where to live long-term.
• Sell rather than ship most belongings.
• Arrive with a short-term booking and visit flats in person to avoid scams and overpaying.
• Ask about deposit alternatives where they exist, such as guarantees or insurance.
• Move money cheaply. Converting savings through your bank can cost several percent; compare options in the cheapest ways to send money abroad, and see how to transfer large amounts internationally for big sums.
• Open a multi-currency account before you go so you can pay deposits and bills in the local currency. See what is a multi-currency account?.

Do not forget tax

Moving can change your tax residency, sometimes from the first day. Check both countries’ rules before you go so you do not end up taxed in both or caught by a rule you did not know. See tax residency explained.

A checklist before you book

1. List your one-off costs using the table above and real local prices.
2. Calculate your monthly budget in the new city.
3. Decide your runway: three, six or more months.
4. Check the visa’s financial requirements and how long funds must be held.
5. Keep your emergency fund separate from the runway.
6. Plan how you will move and convert money.
7. Check tax residency and health insurance requirements.

Frequently asked questions

How much money should I save before moving abroad?

Enough for one-off moving costs plus three to six months of full living costs, and a separate emergency fund. The exact amount depends on the city, your family and how secure your income is.

Is the visa’s minimum income enough to live on?

Sometimes, but it is a legal threshold, not a budget. Build your budget from local prices.

What is the most underestimated cost?

Usually the rental deposit and advance rent, followed by document fees, translations and the overlap of paying for two homes.

Should I move my savings before I arrive?

Move enough for the first months and deposits. Compare conversion costs carefully and keep some funds in your home currency if you still have costs there.

Final thoughts

Moving abroad costs more upfront than most people expect, and the first months are the most expensive. Budget the one-off costs, keep a realistic runway, check the visa’s financial rules early and keep an emergency fund apart. With that cushion, a slow start or an unexpected bill becomes an inconvenience rather than a crisis.

This article is general information, not financial, legal or immigration advice. Visa requirements and costs change; confirm figures with official sources. Information reviewed October 23, 2026.