If you're seriously considering living abroad, now is the time to start saving. It's best to have seven to nine months of living expenses in a bank account or in a low-risk savings vehicle that is easily accessible before you move. The exact amount you need will depend on your lifestyle, whether you have a job, the size of your family, and other factors. At the very least, you should have enough money to cover your initial housing costs, including security deposits and installation fees, as well as enough to cover emergency medical care and the cost of returning to the UK if you decide expat life isn't for you.
Start by calculating how much money you need to move, and then work towards that goal by paying off your debt first. You may also want to consider having roommates in order to make rent more affordable. Contrary to what your friends may tell you about their expensive 3-4 week trips abroad, it doesn't have to be expensive to move abroad. It is possible to move without money, but it's risky and having a job lined up is the only way to do it safely. You can hire state-to-state carriers for full moving services or just for packing services if you are arranging your own transportation.
An emergency fund is also essential; this is a pool of money that can be used for unexpected expenses so that you don't have to borrow or dip into your retirement savings. The actual amount of money you'll need to move will depend on the cost of long-distance moves, three months of rent, and other necessities. You should have enough money saved up to cover all of these expenses, including advance rent payments or security deposits. If you have credit cards, consider consolidating them or transferring them to a new bank that offers an interest-free rate on credit transfers. There are many ways to travel the world while still earning money, and moving abroad is just one of them. If you are qualified, TEFL jobs in Asia are an option if you don't have a lot of money and want to move abroad.
I was fortunate when I moved abroad since I already had a job lined up in New Zealand and then I moved on to Colombia and Mexico for another job. Don't let waiting until you've saved enough for luxury items like designer dining sets or leather sofas stop you from moving on your preferred schedule. A well-thought-out plan for how to move can help ensure that you pack in good time and live comfortably on your own. If your debt-to-income ratio is higher than it should be, it may be wise not to move yet since you may want to use the extra money from your budget to pay off debt instead of paying for housing and other associated expenses. In some countries, it's relatively easy to open a bank account from the UK while others don't allow it until you move and have a permanent residence address.
