Do you ever think about how a money transfer to Nigeria takes place? In this article, we will talk about how you can save money if you happen to live in the United Kingdom as an expatriate hailing from a western coast of Africa country Nigeria.
Although, there are a number of ways you can save your money as an expatriate which depend and differ from country to country but a few ways are universal in nature which can help you save your money regardless of which country you basically belong to and which country you reside in temporarily.
Before we proceed with the ways to save money as a Nigeria expatriate in the United Kingdom, we must bear in mind that the cultural heritage of the UK, along with its rich history, make UK the 12th most expensive country and its capital London the 5th most expensive country to live in the world.
Here is a list of ways to save your money as a Nigeria expatriate in the United Kingdom.
Advance travel booking:- If you are travelling to the United Kingdom all the way from Nigeria, you will choose the mode of air travelling. The best way to save your money in your travelling from the UK to Nigeria is to book your tickets well in advance because airlines push their fair upwards as the departure date of a particular flight draws closer.
Shared accommodation:- As is mentioned before, the UK and London are expensive places to live particularly when it comes to accommodation as an average flat in central London will cost you a staggering 1.4 million USD. Therefore, we highly recommend that you look for shared apartments or share your apartment with other expatriates to keep your accommodation costs down and well within your affordability. A couple of online sites such as Gumtree and SpareRoom can help expatriates find and arrange a shared place of living.
Cheap food:- Try to avoid the restaurant of your hotel, which can cost you more. Famous cousins belonging to different parts of the world can lure you into eating their food as the United Kingdom is a melting pot of diversified cultures. But, that indeed will come heavy on your pocket. Straying away from the famous eateries can lead you to reach cheap eats outside of the main markets. Besides, some of the famous restaurants lower their prices to some extent after peak hours. Therefore, late–night dines are admissible in order for you to save money.
Money Transfer:- Many Nigerian expats live in UK and send money to Nigeria on a monthly-basis. Money transfer could also save some money if you choose a company who provides good rate a low transfer-fee.
Public transport:- The United Kingdom is home to one of the world’s best public transit networks. Owning a car and driving it particularly in the rush hours can be hazardous and more so if, as an alternative, a highly developed and convenient public transport is easily available. Commuting through public transport can save your money to a large extent.
Health insurance:- Securing a sound health insurance policy in the United Kingdom is a must if you plan on saving your money as an expatriate hailing from Nigeria. The need of it becomes more urgent if you wish to get private medical care and not the National Health Service, which has, of late, become somewhat cumbersome for the people owing to a number of reasons such as long waits for treatments and the tedious process to get registered with the NHS of the United Kingdom. Different health insurance policies have different benefits but a deep comparison between a few companies with repute can ensure you get a policy which is cheap yet with uncompromised quality.
Conclusion:- The above-mentioned areas are the ones in which exercising restraint can help you save your money to a fairly large extent whether you are an expatriate hailing from Nigeria and residing in as expensive a country as the United Kingdom or any other country of the world regardless of which is your country of origin.