Managing The Complexities of Relocating to The UK.

So moving when to a new country can be exciting and challenging at the same time, especially navigating the new environment and settling your family but here is one thing you must know, it gets better by having a good assistance and guidance. One of the easiest ways to reduce the application and document collation workload is to enlist a reputable company like TRAAVU to help ease all that stress.

Relocating involves not just an emotional but also a significant financial investment.

This reality can put a strain on your life if not managed carefully. The key to a well-managed and carefully planned relocation is efficient planning and budgeting.

However, if you are relocating to the UK in 2024, you must understand what it means for your family and yourself. Below are the things to know before moving to the UK.

1. New Immigrants pay a surcharge to access Medical care (NHS healthcare)

If you are in the UK on a work, study, or family visa, you may need to pay the health surcharge. However, British citizens and full-time residents get free NHS healthcare.

As of January 2024, the healthcare surcharge is:

• £776 per year for a student or Youth Mobility Scheme visa

• £776 per year for visa applications who are under 18

• £1,035 per year for all other visa applicants

You do not need to pay the health surcharge if you are on a tourist visa in the UK.

2. Cost of living in the UK

The UK and the rest of the world have been hit with inflation due to the ongoing war in Ukraine among other things. Although the UK is particularly expensive, you can manage through careful financial planning.

Living in places like London can burden your fiancees, many people move out of central London and other expensive areas to buy a home and commute to work.

House prices in the UK have seen massive growth over the last few decades. This means home ownership is getting more difficult, particularly for younger people who do not have significant savings.

3. Education is FREE: Childcare is EXPENSIVE

According to Money Helper, a part-time childminder costs £118.30 a week on average, rising to £163.77 a week if you live in London. Day nursery is even more expensive, costing £137.69 a week on average. Childcare costs can vary significantly depending on where you live in the UK.

This will impact your finances especially if you have a young family, but when your child turns 3, they may be entitled to 30 hours of free childcare weekly. And from the age of 4-5, they are entitled to free schooling up until the age of 18.

4. Dealing with Black Tax:

If you are moving from Africa, especially Nigeria, families expect you to send money home even when you are struggling. Although it can be frustrating fortunately there are ways you can send money back home to support the family from the UK:

• Bank transfer

• Money transfer services

• Foreign currency exchange services

Compare fees and find the best option based on the amount you are sending.

5. Managing your finances in the UK:

Every developed country has its unique financial system; you need to figure it out to decide if it suits you. In the UK, you’ll need to:

• Set up a UK bank account- Important for your day-to-day transactions, as well as getting paid by your employer.

• Create a savings account- It is very important to have some savings and moderate your lifestyle.

• Build your credit score- your credit score is essential for borrowing money to get mortgages or for certain services like a phone contract.

CONCLUSION

In conclusion, just as the difficulties might surface in the process you’re sure to have a fantastic time and also find out what works right for you. It is best to take time to make a proper plan and budget for your relocation.

Although you have gotten this valuable information there are still quite some things that you might get to experience in your migration to the UK that will be different from what you have heard or read, which is meant to build you to be stronger, and help you lay a good foundation for the fulfillment of your purpose. To make the most of the opportunities in the UK, it’s important to think ahead, go prepared, keep an open mind, and work with professionals like us at TRAAVU. We help you make your process smooth and seamless

Understanding and sticking to the above tips and procedures, it thereby makes it easier to manage all the aspects of your process towards achieving a great future.