5 Keys To Managing Money As A Foreigner In Dehradun

One of the scariest parts of living abroad is the money question. How much money do I need to live in India? How do I open a bank account? Can I use my credit cards from home? Its all overwhelming when you first arrive, but with these tips you’ll be on your way to managing you money like a pro!

Cash is still king in India

You may have heard about India’s recent efforts to move to all electronic payments, but Indian society is still largely cash-driven, and foreign credit cards are typically not accepted outside major metropolitan areas such as Delhi and Mumbai. That means that during the first few months after you arrive in Dehradun, you will become a regular at your local ATM- at least until you get a local bank account.

Watch the exchange rate

Watching the exchange rate fluctuate can be unnerving if most of your funds are stored in foreign currency, but its also a great opportunity. Take advantage of favorable exchange rates by moving extra money into the country.

Small bills are your friends

Many places, like street vendors and autorickshaws likely won’t have much change available. Keep a stash of small bills with you whenever possible, and use purchases at larger stores to break the larger ₹500 bills whenever you have an opportunity.

Open a local account

If you are here for more than a few months, it’s a great idea to set up a local bank account in Dehradun. This will depend on the bank and the type of visa you’re on, but with a bit of local guidance, and some patience, you should be able to open an account and take advantage of online payments, a local debit/ATM card, and set up payment apps like Google Pay, PayTM, etc.

Plan your budget

It’s nearly impossible to find cost-of-living information for Dehradun online before arriving in India. But once you arrive, you’ll realize why: it all depends! After a few months, you’ll start to get into the flow of what works best for you, but keep these tips in mind and you’ll be well on your way to managing your money like a pro!

ABOUT ETHAN
Ethan moved to Dehradun in 2015 with his family, and has enjoyed introducing people to this amazing city ever since. He loves exploring new places, spending time outdoors, and geeking out about culture. Ethan stays busy developing and running cross-cultural trainings, helping out newcomers to the area, and taking pictures of this incredible part of the world in his spare time.

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