Image courtesy : Google
1- Always be open minded for new culture rather than immediate lookout for same community people and relatives once you arrive in a new country. Give your family enough time especially kids to understand new culture, strange environment and multinational society. When they explore new things they will be more adaptive. Pushing them into pre-settled known ones or same community means more emotional pressure on them and at your pocket to spend maximum to get same kind of lifestyle. Instead of learning more they will start spending more to compete with presettled families.
2- Opt for smallest social circle or no social circle to remain focused on kids studies first. It is kids who needs more educational support in new environment. Divert their mind over hard work in studies rather than splurging in fancy things or getting fascinated by others lifestyle.Maximum initial psychological pressure comes from inner social circle especially from women.
3- Professional education is not easy for growing up kids especially in Asian countries where population is increasing day by day so is admission criteria for good institutes. Isn’t it? So prepare them from start. Involve them in disciplined time table,one extracurricular activity, healthy eating and some exercise. Parents play big role because if they are earning good,spending wisely and saving brilliantly it is own kids first to notice and follow the habits. If you are in any wrong addiction of drinking,smoking,eating too much fried stuff or throwing parties your kids will follow you with your pattern of life one day.
4- Follow the value of time, money and relationships. As parents try to call relatives for limited timeframe. Always give a call back to missed call but dont talk useless. Kids come to know so many unwanted information during your personal talks. Keep your talks short and point to point . Long calls back home gives a clear idea to others about your lifestyle and earnings too. Lot many start expecting a lot too. Just be reserved over phone and social media. Dont expose much about yourself too much through pictures and posts too. Give guidelines to family members too.This will save a quality time from unnecessary discussions in between.
5- Involve yourself in online courses learning too. Do meditation or yoga.Go for early morning or late evening walks.Be stress free. Listen to music. Keep yourself upgraded in your field. Give one hour extra in your job to improve your output. Boss always notice the hard work and stress free employees.More you are worried about family expenditure more stress and other addictions will take on you.
6- After 3-4 months you will come to know how much is basic need of your family. Keep that much amount plus 25% more of that calculated expenditure plus an initial emergency fund and save strictly all remaining amount. Ask your spouse to help you in that, tell your kids about your ambitions to save for them and explain them value of leaving own country behind to get this money. Don’t pressurize for anything.Buy good cake, gift on each birthday and keep money for festivals but avoid unnecessary expenditures in expensive cars, huge rented house, heavy GYM equipments or overrated sports bikes or bicycles. Keep an eye on expenses and cross check grocery,phone and other bills once a months with family and discuss to control them too.
7- Almost every relative expects in Asian countries gifts from you if you are in abroad. Don’t buy useless stuff like toys clothes or eatables. If somebody asks you for special thing and promise to pay than buy and give them with bill with converted inscription of amount on it clearly. Otherwise next time either they will take you for granted or you may feel hesitated in buying things for others. Calculate total how many actual gifts you need to give. Buy sensible small gift rather than buying useless big gifts. Buying fancy tissue papers, clothes, electronics,watches,shoes,toiletries or chocolates are biggest mistakes. Buying small travel irons,digital thermometers,neck massagers or small kitchen tools are better options.
8- Calling relatives frequently from back home is a biggest money pincher. Air tickets and hospitality costs a lot of money along with precious time too. And with growing up kids you need to be more focused on their studies and career rather than spending time in airport transfers of relatives,roaming at same tourist spot multiple times or shopping in markets. Be focused, reserved and pay attention to family and career. Once your kids are settled you will be having long time to spend with relatives only. Keep something for retired life too.
9- Make a list of financial goals you wish to achieve personally. Like making or renovating your house back home, collecting money for educational settlements, further marriages of kids and your retired life with medical insurances and expenses.Making a portfolio with good relationship manager in good bank is not a bad idea. But don’t invest in any property which is strongly recommended by someone who knows your earnings well. Just search n research and then finalize it. Don’t make propaganda about your wealth. Keep your secrets to your own. Ask family to not show off too. Make fixed deposits and buy insurance policy for each n every member too. But try to buy from those agents who give you back first premium or good amount back. This is their commission in maximum companies. If your agent is honest may be he will propose you to pay first premium from his own pocket.Because later premiums he will get commissions.
10- It is most important point in this article.Dont get yourself involved in any money requirement of closest relatives without written receipt. If you are giving money it should be in presence of at least 3-4 known ones and with written agreements. Keep all your transactions in legal forms.Dont give any money out of your spouse and kids knowledge to any relative.First be firm and say no than if much required than say it should be in written and legal form. People who are genuine will welcome and praise your sincerity but other kind of persons will create bad image may be. But dont worry at least your hard earned money is safe with you. You loose own money and chase it like mad cow is bigger picture of that simple request from back home. Keep it in mind always. Your money comes a hard way when you and your family are living abroad with all kinds of emotional struggles. Just be focused, save money and enjoy your life in raising family not in raising shopping malls at your cost.