From the Gulf to Kenya: A Guide to Managing Finances During Your Return

Returning home from the Middle East can be a bittersweet experience. While there is joy in reuniting with family and friends, it can lead to significant financial pressure and unforeseen challenges.

You may feel pressured to impress others with extravagant gifts or feel compelled to meet everyone's financial demands back home. The only problem with your good intentions is that we might end up broke sooner rather than later. Without a solid financial plan, you could lose your hard-earned savings within a few months, and end up stressed and longing to leave again.

Luckily, you can plan your homecoming, making it a wonderful experience that does not drain your bank account. Here are a few tips to help. 

Financial Planning For Returning Home

1. Review Your Financial Situation

Before you even book your ticket, take stock of your finances. Ask yourself:

• How much have I saved?

• Do I have any debts to settle?

• What are my current financial commitments?

Create a comprehensive list of your income, savings, and expenses. This financial snapshot will help you make informed decisions and avoid surprises when you return.

2. Increase Your Savings 

“If you’re saving, you’re succeeding.” 

– Steve Burkholder

First, ask yourself if your savings are enough to achieve your return goals. Remember, the more you save, the higher your chances of meeting your goals. 

Saving money for moving back home will help you cover: 

• Moving costs

• Settling costs such as rent, 

• Capital for starting a business, 

• And fees for pursuing education. 

If your savings fall short, increase them in your final months abroad.

Pro Tip: Set up automated savings deposits. Even small contributions over time can add up, giving you the financial cushion you need to transition comfortably.

3. Consider Debt Settlement Before Moving Home

The sooner you pay off your debt, the better. In our experience, paying off your debt within the first few months of working will help you free up enough for your savings and investments. However, if you still have debt towards the end of your stay, you can try to ramp up your payments. This will make settling back in Kenya after working abroad easier.

Pro Tip: Start by tackling high-interest debts or those that may follow you home. Returning on a clean financial slate can significantly reduce stress and give you peace of mind.

4. Review Investments and Businesses

Say you’ve bought a few stocks or invested in mutual funds or bonds, it makes sense to see how your investments are doing. This will help you determine whether to make additional investments or hold off until you finally settle down. 

If you are running a business back home, evaluate it to see if it's profitable or if it needs additional investment to grow. If your business is currently draining resources without profits, then you need to rethink it. If the business has good profits, you can consider reinvesting in an additional business or any other type of investment. 

Financial planning for returning home will ensure your financial freedom continues once you return home. 

Pro Tip: Investments and businesses should work for you, not the other way around.

5. Budget for Moving and Settling

The costs of returning home from the Middle East can add up quickly, especially with travel expenses, housing, and initial settling-in costs like furniture or rent. Create a detailed budget that includes these elements to avoid overspending.

Also, consider budgeting for costs associated with your family. These include grocery shopping, gifts, hosting celebrations, donations and taking care of family responsibilities. The budget will make it clear how much you need to spend. 

6. Create An Emergency Fund. 

Let's be honest, going back home on a budget might not go as planned. Sometimes, the costs override your finances. So, what do you do to ensure you don't go broke? Saving money for moving back home and creating an emergency fund will help you cover any additional costs that you didn't budget for. 

7. Set Boundaries. 

Family expectations for returning workers often make it hard to settle back peacefully. Setting boundaries helps you avoid burnout, resentment, and financial stress. It allows you to maintain healthy relationships while working toward your own stability. Set boundaries with family and friends about what you can and cannot do financially. Explain your goals and how you plan to support yourself and others sustainably.

Manage Your Return Like Pro. 

Returning home from the Middle East can feel like a balancing act, but with proper planning, it can be a fulfilling experience. By planning ahead, managing expectations, and focusing on long-term goals, you will navigate the transition smoothly. Remember, the money you’ve earned represents your hard work and sacrifice. Use it wisely to build a future that you are proud of.

Are you planning your return? Share your thoughts or questions in the comments below. Let’s support each other in making this journey as smooth as possible.