Moving is always difficult and stressful, but even more from a financial perspective. The moving process itself can be expensive, not to even mention finding a new home and making preparations for the new house.

If you’re planning on taking the leap and moving to a completely new country, the whole process can become a real financial burden if you don’t plan your actions carefully. Finland may be a wonderful country in many ways, but similar to other destinations, expats need to plan their move and especially take care of their finances before making the first steps on their journey to the Nordics.

Create a Monthly Budget

First things first, you need to establish some basics around your finances before you can start planning your move. If you don’t yet have a proper monthly budget, now is the time to create one. 

You can plan your budget by either doing it manually in Excel (or even paper) or using any online budgeting tools. Either way, you’ll have to mark down your monthly income and fixed expenses, together with all other possible expenses that may occur over the month.

As a result, you’ll start seeing where you spend your money and where you could possibly start saving some. You can even create a new section in your budget called ‘Moving’, and allocate some of your monthly income towards this new expense.

To make sure your move goes right, you may want to create an imaginary budget for your future in Finland. You can consider the kinds of expenses you’ll have after moving, your new rent, and other costs, and plan out your finances. Though this budget will be more speculative, it may give you some clarity on how much money you realistically need to live in Finland. Luckily, there are also many online resources available that can help you plan your expenses, so make sure to use any resources while making your plans.

Compare Moving Costs

No matter where you’re currently living, moving costs can vary tremendously. While one moving company may ask 1000 euros, another one may ask 5000 euros for the exact same service. This applies to both domestic and international moving, and of course, the longer the distance, the bigger the cost difference.

This is why it’s essential to properly compare moving costs. You can ask for a quote from many different moving companies to get a better picture of related costs. The odds are you’ll see that costs may have huge differences and of course, this is something to consider when deciding how you’re going to implement your move to Finland.

Consider a Small Loan to Cover Moving Expenses

Even if you already had enough savings to move to Finland, there’s a good chance you may get hit by some unforeseeable expenses once you’ve arrived. Perhaps your new home needs a washing machine? The fridge broke? You need some equipment or furniture? 

Moving is one of the situations where taking a small loan may be justified. Luckily, Finland has a booming FinTech industry and it won’t be hard to find a Finnish lending platform for your situation. These small loans may even reach up to 60 000 euros and the contract may be signed for up to 15 years, giving plenty of flexibility.

Of course, you shouldn’t rush into a lending relationship, even if you seem to have a dire need for extra cash. Before applying for any loans, make sure you can cover monthly payments in the long term – you don’t want this new loan to become a burden on your day-to-day budget.

Eliminate Mindless Spending

You probably don’t even realize how much money you’re spending on random things you most likely don’t need. Sometimes, these expenses can be small and seem insignificant, yet they may make up hundreds of euros every month. These euros could all go towards setting up your new life in Finland.

Pay close attention to your spending habits, whether it’s in the grocery store or online shopping. Whenever you feel like you want to buy or order something, give yourself 3 days to mull over the purchase. If you still feel it’s an essential purchase after 3 days have passed, it’s fine, but in many cases, you’ll have long forgotten about the purchase itch by then. 

Let’s be honest: we all may appreciate Barbie socks or cool new glittery sunglasses, but at the end of the day, you won’t be needing those. Be savvy and keep a close eye on your shopping habits. That’s how you’ll get to build up enough savings to finally move to Finland.