How to get set up financially in Australia

Emigrating is often a costly business and if not done properly it can turn into an expensive venture. If done right you could possibly save yourself a lot of time and money. The following list contains some of the main costs that you may face during your move.

Migration costs- From paying for your furniture to be moved, to the airfare of your trip, costs can quickly mount up. Paying Migration application fees and Visa’s all add up and could cost you thousands. The best thing to do is research the costs you may encounter. The Australian department of immigration and citizenship will be a big help. www.immi.gov.au/

Exchange rates- A very important consideration when emigrating is the exchange rate. When you make your move it is a good idea to use a professional exchange rate company such as TORfx. You can save a lot of money by doing this.

Create a budget- Due to the costs a move generates it is strongly recommended that you make a budget and more importantly stick to it. Adjusting to your new home in Australia is vital if you want your move to be a success. Take your time to get used to the new currency and the conversion rate.
Seek advice- If you are unsure of a certain aspect of Australian financing then seeking advice from professionals and other expats can help you immensely. Ask as many people as possible to help you and learn as much as you can from them.

Know the tax system- Knowing the Australian tax system can be a good way to avoid complications further down the line (i.e. filing a tax return.) A good source of information can be found on the Australian tax office web site found at www.ato.gov.au

Take your time- Rushing and panicking like a headless chicken never helps matters, especially when it comes to money. You probably just want to get on with enjoying the experience but by giving yourself time o adjust you can avoid a lot of wrong decisions in regard to your money.

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