Relocating to the United States as an international nurse is an exciting new chapter, but it also comes with unique financial challenges. From understanding new systems to managing one-time moving costs, it’s important to have a solid financial plan in place. 

This guide covers the top personal finance tips for international nurses to help you budget, bank, and thrive in your new life in the U.S. We’ll cover everything from budgeting and banking to building credit and retirement planning, all with tips to make your transition smoother and less stressful. 

Step 1: Financial Preparation Before Leaving Your Home Country 

A little preparation goes a long way in helping you feel secure during your move. Here’s how to get started: 

Assess Your Current Financial Situation 

• Create a detailed budget: Write down all your income and expenses to understand your spending habits. Identify areas where you can save for the move. 
• Review investments and assets: 
• Consult a financial advisor about how your existing investments, such as stocks, mutual funds, or real estate, may be impacted by your relocation and U.S. tax laws. 
• If you own property, decide whether to sell it (for immediate cash and less management hassle) or rent it out (to generate ongoing income, ideally with a property manager). 
• Evaluate your debt: If possible, pay off high-interest debts before leaving to avoid added stress later. 

Research the Cost of Living in the U.S. 

• Target specific locations: Costs can vary widely across states and cities. Research housing, utilities, transportation, groceries, healthcare, and other essentials in your destination city. 
• Compare with your current expenses: This will help you predict how much more (or less) you’ll spend and plan your budget accordingly. 

Set Financial Goals for Your Move 

• Estimate moving costs: Include international shipping, airfare, temporary accommodation, visa-related fees, and other relocation expenses. 
• Build an emergency fund: Aim to save 3–6 months’ worth of living expenses as a safety net for unexpected costs while you settle in. 
• Allocate funds for initial expenses in the U.S.: Think about upfront payments such as housing deposits, furniture, groceries, and transportation. 

Manage Your Bank Accounts & Essential Documents 

• Bank accounts: Decide whether to close, keep, or move your existing accounts. Inform your bank about your move to avoid issues with international transactions. 
• Cancel or transfer recurring bills/subscriptions: After leaving your home country, stop using services you won’t use. 
• Organize critical documents: Keep these handy and up to date: 
• Passports and visas (valid for at least 6 months beyond your stay) 
• Birth and marriage certificates 
• Academic transcripts and professional licenses 
• Medical records and insurance documents 
• Financial statements (bank, investment, loan records) 
• Tax records and proof of income/employment 
• Immigration-related financial documents like Affidavit of Support or proof of assets 

Step 2: Financial Actions Once You Arrive in the U.S. 

Setting up your finances early will help you adjust to your new life more smoothly. 

Obtain Essential Identification Numbers 

• Social Security Number (SSN): Required for most financial activities, from employment to opening a bank account and building credit. 
• Individual Taxpayer Identification Number (ITIN): If you’re not eligible for an SSN, you may need an ITIN for tax filing or certain banking needs. 

Open U.S. Bank Accounts 

• Checking account: For everyday spending, direct deposits, and paying bills. 
• Savings account: For your emergency fund and long-term goals. 
• Requirements usually include: 
• Proof of U.S. address (like a utility bill or rental agreement) 
• Proof of your foreign address 
• Two forms of ID (e.g., passport with visa, home-country driver’s license) 
• SSN or ITIN (some banks allow you to open an account without an SSN initially) 
• An initial deposit 

 
We recommend Advancial Credit Union,  a trusted partner that lets you open an account even before getting your SSN. Membership is free when you open a savings account with just a $5 deposit. Click the “Request Information” button on their site to connect with the right team. 

For easy account management, download the Advancial Mobile App. It’s secure and lets you manage your finances on the go. 

Step 3: Build Your U.S. Credit History 

Your credit score (ranging from 300–850) affects your ability to rent apartments, get loans, or even qualify for certain jobs. As a new resident, you’ll start with no credit history, but you can build it step by step: 

• Secured credit card: Start with a small deposit that acts as your credit limit. Pay bills on time and keep balances low. 
• Credit-builder loan: Take a small loan and make consistent payments to build your credit profile. 
• Become an authorized user: If a family member or friend has good credit, ask if they can add you to their card. 
• Report rent and utility payments: Some services allow you to report these payments to credit bureaus. 

Step 4: Understand U.S. Taxes 

• Tax residency: Once you get a green card, you’ll be considered a U.S. tax resident and must report worldwide income. 
• Filing requirements: Familiarize yourself with IRS rules for annual tax filing. 
• Stay organized: Keep pay stubs, receipts, and other income/expense documents. 
• Seek professional help: A tax advisor can ensure you file correctly and maximize deductions. 

Step 5: Manage Remittances 

If you’ll be sending money back home: 

• Compare services: Look at exchange rates, fees, and delivery speed from providers like Remitly, Western Union, or Revolut. 
• Know the limits: Be aware of daily/monthly transfer limits and documentation requirements. 

Step 6: Ongoing Financial Planning in the U.S. 

Once you’ve settled in: 

• Create a U.S.-based budget: Track your real income and expenses to stay on top of your finances. 
• Save and invest: Plan for future goals like buying a home, further education, or retirement. 
• Understand healthcare costs: Health insurance is a major expense; research employer plans, government programs, or marketplace options. 
• Consider additional insurance: Such as renter’s, auto, or life insurance. 

Step 7: Pension & Retirement Planning 

Your Home Country Pension 

• Check whether you can continue contributing after you move and understand how withdrawals are taxed in the U.S. 
• Be aware of U.S. reporting requirements for foreign pensions, including IRS forms like FBAR or Form 8938. 
• Review any tax treaties between your country and the U.S. that might reduce taxes on your pension. 
• Consult an international financial advisor for tailored guidance. 

Retirement Savings in the U.S. 

• Employer plans: 
• 401(k): Contribute pre-tax (traditional) or after-tax (Roth); some employers match contributions — that’s free money! 
• 403(b): Similar to 401(k), often offered by hospitals or schools. 
• Individual Retirement Accounts (IRAs): 
• Traditional IRA: Contributions may be tax-deductible; taxes apply at withdrawal. 
• Roth IRA: Contributions are after-tax; qualified withdrawals are tax-free. 
• Pay attention to annual contribution limits set by the IRS. 

Step 8: Budget for Initial & Recurring U.S. Costs 

One-Time Settlement Costs 

• Apartment deposits: Usually 1–2 months’ rent plus the first month upfront. 
• Furniture & appliances: Many U.S. rentals are unfurnished. 
• Vehicle purchase: If you need a car, budget for the car itself, insurance, registration, and maintenance. 

Recurring Monthly Costs 

1. Housing: Rent/mortgage plus utilities (electricity, gas, water, internet, cell phone). 
2. Healthcare: Monthly insurance premiums plus co-pays and prescriptions. 
3. Transportation: Gas, car insurance, maintenance, or public transit passes. 
4. Daily living: Groceries, personal spending, and sales tax on goods/services. 
5. Other: Education expenses for children or loan repayments from your home country. 

Final Tips for a Smooth Transition 

• Keep detailed records of all your income, expenses, and important documents. 
• Consult professionals like financial planners and tax advisors for personalized advice. 
• Stay optimistic: Adjusting to a new financial system takes time, but with preparation and smart planning, you’ll be well on your way to a stable and successful future in the U.S. 

You’re Not Alone with WorldWide HealthStaff Solutions 

Relocating as an international nurse is a big step, but you don’t have to navigate it alone. By following this checklist, you’ll feel more empowered to make confident financial decisions and focus on what matters most: building your new life and thriving in your nursing career. 

Moving to the United States is a brave and life-changing decision. With thoughtful financial planning and the right resources, you can start your new chapter on solid ground. Remember, you don’t have to figure everything out alone. WWHS is here for you at every step to make sure you’re feeling settled and secure.