We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Brexit and Money
Comments
-
Was going to post that if the potential new jobs are on the continent then it's not ridiculous to move some savings to EUR to insulate you should you have to move. Maybe not so much if a move to the ME is likely.
Converting cash to EUR and then back to GBP for spending really is bonkers though. Don't do that.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
My husband was offered a five year contract in the Middle East. Tax free, about 3.5X current salary six months there 3 months off and they said tax free.
Thats a long way, in both senses, from the taking a job in Europe position you implied at the start.
We discussed using money to fund finishing off house then renting it out and renting in Cyprus or even in the ME. But with referendum vote it rules out Cyprus though I know people there. I don't se myself in a burka.
Five years would mean at least two years in total, living by myself and I didn't get married to do that.
I will call Mayhem anything I please.
Indeed you have that right, just as I have the right to assume you are acting as if you are about 7 by childishly making fun of someones name in the playground. If the PM's surname was "Smith" what witty misnomer would you apply?0 -
AnotherJoe wrote: »As you point out and then ignore in the same breath, that's irrelevant as it's solely down to the exchange rate. Relevant to living in that country, it's exactly the same as it was pre vote. So that should have zero effect upon your decision.
I'm sure there are niches out there for people with the right skills and languages but there's a very good reason so many talented young Europeans are coming here for jobs. If it's so rosy in their home countries, why do you think they are coming to the UK? Have you looked at the statistics for unemployment in Greece, Italy, Portugal, Ireland ..... ?
You might also want to check house ownership statistics on the continent and wonder why so many rent.
And tax. Invome and others. Check out vat in the Nordics. Will make your eyes water.
No it's not completely irrelevant because I'd probably move back to the uk at some point, or at least have some money and investments here. So there would still be benefits.
Obviously I'm not talking about going to a country in an even worse situation than the uk. I'd be going to the booming countries where my skills are in demand and pay is high. Likewise, all the talented young Europeans you speak of will be thinking again if the pound remains so weak. It's a globalised world now and people under 40 are much more mobile than they were a generation ago. They won't stick around earning a weak currency for long. There'll be nobody left to pay the baby boomers' final salary pensions if things don't improve. Then who will they blame?:p0 -
No it's not completely irrelevant because I'd probably move back to the uk at some point, or at least have some money and investments here. So there would still be benefits.
Obviously I'm not talking about going to a country in an even worse situation than the uk. I'd be going to the booming countries where my skills are in demand and pay is high. Likewise, all the talented young Europeans you speak of will be thinking again if the pound remains so weak. It's a globalised world now and people under 40 are much more mobile than they were a generation ago. They won't stick around earning a weak currency for long. There'll be nobody left to pay the baby boomers' final salary pensions if things don't improve. Then who will they blame?:p
. The OP (is that you?) was indicating they would go to Europe to work, unless they are barking mad and have decided to take their sterling, change it to euros, and then move outside the eurozone and change it again into yen or US or Oz dollars or Dirhamss or whatever to spend in their new country.No it's not completely irrelevant because I'd probably move back to the uk at some point, or at least have some money and investments here. So there would still be benefits.
If you move back obviously there's a benefit if you can save out there. For money and and investments already here it's irrelevant. Though why you'd move back and invest and save here when the place is such a basket case escapes me.0 -
My husband was offered a five year contract in the Middle East. Tax free, about 3.5X current salary six months there 3 months off and they said tax free.
No connection to Brexit then. Purely a personal decision. Some people enjoy the expat lifestyle others don't. My friend in Doha gets up every morning at 5. As that's when the first call to prayer is called.0 -
No it's not completely irrelevant because I'd probably move back to the uk at some point, or at least have some money and investments here. So there would still be benefits.
Obviously I'm not talking about going to a country in an even worse situation than the uk. I'd be going to the booming countries where my skills are in demand and pay is high. Likewise, all the talented young Europeans you speak of will be thinking again if the pound remains so weak. It's a globalised world now and people under 40 are much more mobile than they were a generation ago. They won't stick around earning a weak currency for long. There'll be nobody left to pay the baby boomers' final salary pensions if things don't improve. Then who will they blame?:p
how quickly with the flood outward begin?
how many will go: millions?
it's been 7 months already and still they come; what's going on?0 -
Seeing GBP plummet after the EU Referendum really shocked me. Whatever the Express and Mail say, we've lost roughly 20% off Sterling and slipped from 5th richest country, to 7th, below India.
We didn't overstretch ourselves on mortgage, chose on location and space and in ten years we trebled our money on paper. Yes we still have a mortgage but the house would have to lose over 60% of value to put us in negative equity, by my bad maths.
Since interest rates are low, we decided to pay off loan and credit card which we did in Autumn. We're worried about interest rates going up or other things like fuel so we wanted max cash flow. Husband was supposed to get 1% payrise in September and that didn't happen.
Mayhem was on TV today talking about what sounds like a hard Brexit and because it was already Monday in Asia, Sterling slumped 50 points.
I see people on other boards saying it'll be fine, but I do worry.
We've decided to put spare cash into a Euro bank account. Just to keep what we need to spend on bills, fuel and food in sterling.
If we hard Brexit we want to leave the UK. Husband has been offered jobs abroad already.
Is anyone else making contingency plans ?
You were panicking in January I wonder what you are feeling now?Thanks, don't you just hate people with sigs !0 -
The bitterness on this thread is embarrassing.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards