Finances
Financial planning is crucial when transitioning to life in Mexico. This section provides practical advice on budgeting, transferring money securely, and navigating Mexico’s banking and tax systems. Whether you’re looking to open a local bank account, obtain an RFC, or understand exchange rates, we’ve got you covered.
Budgeting for Mexico’s cost of living is an essential step in your financial planning. From everyday expenses like groceries and utilities to understanding property taxes and healthcare costs, we provide insights to help you allocate your resources effectively. Our articles also offer advice on avoiding hidden fees and maximizing the value of your money transfers.
Explore money transfer services, learn how to manage financial obligations like taxes or property ownership, and discover ways to stretch your budget without compromising your lifestyle. With straightforward advice and up-to-date information, we’ll help you make informed decisions about your finances while enjoying your new lifestyle in Mexico.
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How to Exchange and Withdraw Pesos in Mexico
For anyone planning to move to Mexico or even just visiting, understanding how to access and exchange money efficiently is a crucial aspect of your experience. One of the most common questions newcomers ask is, "What's the best way to get pesos in Mexico?" While there...
Cost of Living in Mexico
Mexico has become a popular destination for foreigners, retirees, and digital nomads looking for a more affordable lifestyle while enjoying a vibrant culture and diverse landscapes. One of the main reasons for this popularity is the cost of living, which can be...
Getting a RFC in Mexico
For anyone moving to or living in Mexico, navigating the local bureaucracy is a crucial part of settling in. One essential number you’ll come across is the Registro Federal de Contribuyentes (RFC). This tax identification number is used by Mexico’s tax authority -...
Transferring Money to Mexico
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How to Work in Mexico
Mexico is an increasingly attractive destination for foreigners, offering opportunities for both work and leisure. If you’re a foreigner with a temporary or permanent resident card, you might be wondering how you can legally work in the country. Whether you're looking...
Helpful Online Resources
- Gob.mx: Mexico’s official federal government portal with details on all government matters, including providing detailed information on immigration, work permits and other legal procedures.
- Servicio de Administración Tributaria (SAT): Mexico’s official federal government agency responsible for the collection of taxes from individuals and businesses.
- Numbeo: Numbeo is a global database that allows you to compare the cost of living between cities in Mexico and other countries. It includes user-contributed data on rent, groceries, dining, and other living expenses.
- Wise, Xoom, Remitly, MoneyGram and Western Union: Trusted services for sending money internationally, each offering varying options for speed, security, and convenience, with competitive fees and global accessibility.
- Facebook Groups: Mexico offers a wealth of local Facebook groups tailored to the needs of foreigners. These online communities provide a platform for members to share real-time tips, updates, and personal experiences, including recommendations for cost of living estimates, money transfer services, banking options, obtaining an RFC, and much more. By joining these groups, you can gain valuable insights and recommendations from other individuals to navigate your financial affairs in Mexico with ease.