Moving overseas? How to fund your new life before your first pay

Moving to another country is exciting, but there's a practical challenge that can catch you out: your new life starts before your new income does.

You might have rent or accommodation to pay, groceries to buy, transport to organise and plenty of other setup costs. Meanwhile, your savings and existing bank accounts may still be in your home country.

When we moved from Perth to Papamoa in New Zealand, this was something we needed to manage ourselves. Our money was still in Australia, but we needed to access it to pay for everyday life in NZ.

Here's what worked for us, and what we'd consider if we were preparing for another international move.

Your new life starts before your first pay

When you arrive somewhere new, it can take time to get established. You may need to wait for a new job to start, receive your first salary, open local bank accounts or arrange other financial essentials.

Even if you've secured employment before moving, your first pay might not arrive for several weeks.

During that period, you still need access to money.

Depending on your circumstances, your initial expenses might include:

• Accommodation, rent and a rental bond or deposit.
• Groceries, transport and everyday purchases.
• A local SIM card, internet and household essentials.
• Furniture and other items needed to set up your home.
• Temporary accommodation while you find somewhere permanent.
• Unexpected expenses during the transition.

The challenge is making sure you can access your existing savings when you need them, without paying more than necessary to move money across borders.

Our experience moving from Perth to Papamoa

After we arrived, we needed a straightforward way to access our Australian savings and use them for everyday expenses in New Zealand.

We used Wise regularly. We transferred money into our Wise account in Australia and then had those funds available in New Zealand. In our experience, this was near-immediate, making it a convenient way to manage our money while we settled into our new life.

That timing is based on our own experience. Transfer speeds can vary depending on the banks involved, the currencies and countries you're transferring between, the payment method and any checks required. Your experience may be different.

We also found Wise economical for travelling through Europe, Japan, Bali and other destinations before our move. That experience made it a natural option for us to consider when we needed to manage money across the Tasman.

For us, the important thing was being able to access our money without making the financial side of an international move more complicated than it needed to be.

We found it economical for our circumstances, but that doesn't mean it's always the cheapest option for everyone. Exchange rates, fees, transfer methods and delivery times can change, so it's worth comparing providers for your own situation.

Could Wise help you fund your move?

Wise is one option worth investigating if you're moving internationally and need to transfer money or manage spending across currencies.

Depending on your eligibility and the countries involved, Wise offers international transfers, multi-currency account features and a debit card.

Before relying on it, check that the service supports your particular origin country, destination country, currencies and intended payment method. Available features and requirements can differ between countries.

It's also worth comparing Wise with your existing bank and other providers. Look at the exchange rate, the total fees, the amount the recipient will receive and the estimated delivery time, rather than comparing transfer fees alone.

We recommend comparing the available options and choosing what works for your circumstances.

Moving from Australia to New Zealand — or the other way around?

Our experience was moving from Australia to New Zealand, but the same planning questions apply if you're moving from NZ to Australia.

You might have Australian dollars in an Australian bank account while your new expenses are in NZ dollars, or the reverse. Planning how you'll access those funds can help you avoid having to solve everything after arrival.

Consider:

• How much money you'll need before your first pay arrives.
• Whether you'll need to transfer funds before departure or after arriving.
• How quickly you can access money through your existing bank and any alternative provider.
• Whether your payment cards will work overseas.
• What you'll do if a transfer is delayed.
• How to compare fees and exchange rates for the direction you're travelling.

Don't assume the process or transfer speed will be identical in both directions. Check the current arrangements for your particular transfer.

For the rest of the move, Navaroa has guides to moving from Australia to New Zealand and moving from New Zealand to Australia.

Moving to Australia or New Zealand from another country

You don't have to be moving between Australia and New Zealand for these considerations to matter.

Whether you're relocating from the UK, India, China, Pakistan, the Philippines or somewhere else, you may face the same underlying challenge: your existing savings are in one country, but your immediate expenses are in another.

Before you leave, work out how you'll access money for the first few weeks or months. Check which transfer providers support your currencies and countries, understand the costs, and make sure you have a backup way to pay for essentials.

If you're considering Wise, verify its current availability and requirements for your particular route. Some currencies, payment methods and transfer corridors may have restrictions, and not every feature is available everywhere. Some countries also limit how much you can send abroad, so check your country's money-transfer limits before a large transfer.

Your circumstances might also make a traditional bank transfer or another provider a better option. The goal is to have a reliable plan for accessing your money, not to commit to a particular service before you've compared your options.

Navaroa's country guides for moving to New Zealand and moving to Australia cover the rest of the move from specific countries.

A few things we'd do before moving again

If we were preparing for another international move, we'd make sure we could answer three questions before leaving:

1. How will we pay for everyday life before our first pay?

Work out how much accessible money you'll need for accommodation, food, transport and setup costs.

2. How will we get our money into the right currency?

Compare transfer options in advance, including total fees, exchange rates, transfer limits and expected delivery times. Navaroa's currency exchange task covers this step in your plan.

3. What happens if the money doesn't arrive when expected?

Keep another payment method available and allow for delays, verification checks or unexpected expenses.

These are simple things to organise, but they can make the first few weeks in a new country easier to manage.

Plan your move with Navaroa

Moving countries involves more than flights and packing boxes. You need to think about your home, essential services, finances and all the practical details of getting established.

Navaroa helps people moving between Australia and New Zealand build a personalised plan that shows what to do and when.

Start planning your move before departure, so you can focus more of your energy on settling into your new home.

Plan your move with Navaroa, or start an Australian plan if you're moving to Australia.

Disclosure: Navaroa may earn a commission if you use our Wise affiliate link and complete a qualifying transaction. Our experience reflects our own circumstances and isn't a guarantee of transfer speed, fees or savings. Always verify current service availability and compare options before transferring money. See our affiliate disclosure.