Living The Expat Dream in Costa Rica: How to Budget for Unexpected Expenses

    Attached to every good thing in life, is some sort of cost. When it comes to leaving the hustle and bustle of your first-world Northern life to relax and unwind in a laid back tropical paradise, the aforementioned adage quickly becomes apparent. Sure, a beautiful world filled with great people, tasty food, unforgettable sunsets and low-cost living awaits, but at the same time, youโ€™re still moving to another country, which means youโ€™re still subject to a similar set of challenges to what youโ€™d face when moving anywhere else. One challenge that might come your way very early on is an unexpected expense or two. Itโ€™s simply something that we cannot avoid, so the best we can do is prepare.

    Expenses to Consider

    Somewhat ironically, knowing what unexpected expenses to expect can go a long way in helping you determine an appropriate budget. Consider the costs associated with your home, such as taxes, bills, repairs, pest control, landscaping and the overall cost of moving if you havenโ€™t already.

    If you plan on owning your own vehicle, try to budget for what it would cost in Costa Rica to fuel it up and service it, as well as potential fees such as tolls and traffic fines. Costa Rica has an excellent healthcare system, but be sure to allocate money for doctorโ€™s visits and potential medication purchases.

    Seasonal expenses that might come your way should also be considered, such as gifts, outings with coworkers and friends, sending money to family back home, and travelling. Additional miscellaneous costs worth considering include phone repairs and replacements, membership fees and pet care.

    Saving Your Money

    It would be smart to use a savings account to store your money for unexpected expenses, as you can earn some interest while your cash awaits a rainy day. Costa Rica has a wide range of both private and state-owned banks for you to choose from. When opening an account, be sure to have a utility bill, proof of income, local identity card and a minimum deposit of between ยฃ20 and ยฃ80 on hand as required by most banks.

    When it Happens

    As the name would imply, unexpected expenses come at unexpected times, so itโ€™s not always easy to have enough money on hand. This leaves many people in stressful situations that result in poor decisions. Avoid this by knowing what to do in order to obtain enough money to pay for the expense in question.

    For example, if youโ€™re simply strapped for cash for a few days or weeks before payday, and you need to pay the expense sooner than that, consider no credit check payday loans from a reputable and affordable provider. Alternatively, you can obtain a loan from family or sell something thatโ€™s lying around your home for some quick cash.

    While the premise of being hit with a hefty expense can be daunting, donโ€™t let this get in the way of living out your expat dream. Provided youโ€™re adequately prepared, youโ€™ll be able to tackle any expense that comes your way, allowing you to continue living the laid back, carefree tropical life.

    VIATCRN STAFF
    SOURCETCRN STAFF
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    I was born in Colombia, I come from humble parents but with good habits and love for God. I had the great opportunity to grow up with a special aunt in my life, she took me to live in Salt Lake City, Utah, USA. I grew up there, I studied at Lehi High and then I started studying at BYU. In the year 2000 I returned to my land and obtained the title of Bachelor in Education Mension integral