How-To Series: How to Start a Savings Plan for relocation on Vesti App

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Whether you are considering relocating or moving overseas for study or other reasons,  the time to start saving is now. Prior to moving abroad, it’s a good idea to have at least seven to nine months’ living expenses saved in a bank account or low-risk savings platform. Our platform is your reliable, low-risk method of saving. 

It may be necessary to save more or less as per your lifestyle. Here’s how you can start saving for your relocation on the VESTI app.

On the VESTI App.

  1. Tap “Savings” on the tab at the bottom of the app
  2. Tap “Add Savings Plan” or “+Add” at the top right corner of the app
  3. Enter plan name e.g “Accommodation Fees”
  4. Enter plan frequency (how often you wish to save)
  5. Enter savings date (this is a date you want your vesti account to be credited)
  6. Enter Amount
  7. Enter your pin
  8. Tap “Proceed”

 

Following are some tips from WorldRemit that you might find helpful on saving for relocation:

  1. Plan ahead for your relocation by putting your savings together. Set up a savings account- you can set up a savings account on the VESTI app. In addition to saving for food and accommodation, you will be saving for other expenses as well. Leaving your home country to study in the US is not cheap, which means you will need to put money aside for tuition fees and other expenses that may run up.
  2. According to WorldRemit, one of the tips for relocating abroad is to take your money online. Online financial services offer the opportunity to manage your money efficiently and cost effectively wherever you are in the world.
  3. The cost of calling your bank from overseas will certainly be high, so there is no need to endure that hassle. Consider low-risk vehicles for saving your money. Savings vehicles enable you to access your money immediately and carry out transactions quickly and easily.
  4. When transferring money from one currency to another, it is advisable to look for the best exchange rate. It is advisable to choose services or platforms with low exchange rates to save some money.
  5. Make sure to pay off your debts as much as you can when you relocate abroad to study. Keeping up with expenses in your new country and paying off debt from another country is not desirable.
  6. Also note that, saving your money in low-risk savings vehicles makes transactions and payments easier to accomplish.  VESTI has got a user-friendly functionality for saving your money and it also gives you round the clock accessibility.
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