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Recent graduate: Savings options whilst living abroad
Options

Dazjazz
Posts: 1 Newbie
Hi,
Im 23 and have recently finished my degree so now I will be spending the next year working a stopgap job to pay off my overdraft.
However come July next year I will be moving abroad to Japan for at least a year, but probably for 3-5 years depending on how it all pans out.
During this time my wage will be in Yen, but due to the; low returns on savings there, having to plan for returning to the UK, and if the weak pound continues, I imagine it would be beneficial to transfer some of my earnings over here as savings.
What would the best way to do this for my future be?
I've heard anything from trying the stockmarket, as I can't put into a UK pension starting a Lifetime ISA, regular savings account etc.
From my predecessors I've heard that as it is overseas work student loans are not deducted from the wage so I could choose to pay that, but I see the loan as 'good debt' so not having to pay it despite earning over the threshold could give me an opportunity to buils up my finances, right?
I have no problem locking the money away for a long amount of time, but just want to make the best decision I can.
Thanks in advance for your help.
Im 23 and have recently finished my degree so now I will be spending the next year working a stopgap job to pay off my overdraft.
However come July next year I will be moving abroad to Japan for at least a year, but probably for 3-5 years depending on how it all pans out.
During this time my wage will be in Yen, but due to the; low returns on savings there, having to plan for returning to the UK, and if the weak pound continues, I imagine it would be beneficial to transfer some of my earnings over here as savings.
What would the best way to do this for my future be?
I've heard anything from trying the stockmarket, as I can't put into a UK pension starting a Lifetime ISA, regular savings account etc.
From my predecessors I've heard that as it is overseas work student loans are not deducted from the wage so I could choose to pay that, but I see the loan as 'good debt' so not having to pay it despite earning over the threshold could give me an opportunity to buils up my finances, right?
I have no problem locking the money away for a long amount of time, but just want to make the best decision I can.
Thanks in advance for your help.
0
Comments
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If you are overseas you still need to arrange payment of the student loan:
https://www.gov.uk/repaying-your-student-loan/how-you-repay0
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