Living abroad tips and hints for money savers

Savvy_Sue

Welcome lic.

Can't really answer any of your questions myself, but I'm sure some of those living in foreign will be along soon.

seven-day-weekend

Hi lic, welcome, and thank you for your interesting and informative post.

Can't write too much now, but will do so tomorrow!

Good night!

LesD

Hi Lic.

As posted previously, I believe the exchange rate problem is more about lack of confidence in the UK's economic management than any detailed relative effect versus other European countries.

Until something changes on that front, therefore, I wouldn't expect to see any dramatic recovery.

Obviously, there are overlayed effects of individual interest rate changes, but I think these are minimal compared to the major effect of the UK's catastrophic debt mountain strategy.

The simple question is...'would you invest in a business planning for debt greater than its income'?????

If public sector pension liabilities and other 'off-balance-sheet' items are included, our national debt is already greater than GDP, and that's without the recent extra support for the banks!

The lunatics really are running the asylum!

donny-gal

Afternoon All

Sorry I missed some of these posts, probably when I threw the dummy out of the cot when I kept losing looooong posts.

Welcome lic, Hello LesD don't think we've spoken before.

We also are UK based with a house in the middle of the ex pat belt on the southern Costa Blanca. However, we are no longer working, when after over 40 years of working the factory we were employed at closed, we took it as a big hint to retire early, and now spend more time out in Spain.

I have to agree about the lunatics, doesn't make sense to me. Still coping atm, we have no mortgage which helps, though the constant search to get some kind of return on savings is to quote the kids of today "doing my head in" :rolleyes: . Should you go for a fixed period, and if so how long, and what percentage of savings should be fixed, and don't forget to spread it. Should I go against all my cautious ways and get a shares ISA, as the only way is up:eek: . Oh for a crystal ball:D . I am not sure about France as I know the cost of living is pretty high there, but I still feel living in Spain is cheaper than living here. It has to be as many of the jobs are on 5€ hour max.

As per national situation, not too sure of that.
DG

droopsnout

Hi, lic, LesD.

In France, the financial situation is not so dire as in the UK. Whilst PSA and other car firms are closing factories temporarily, the fall in car sales has been much more moderate,with the worst hit being Citroën, at 17% down. I gather that this compares to a fall in November sales of 40% in the UK for new cars of all makes.

There are problems with some banks, but it seems not on the scale of the UK, where I don't think we've finished hearing about the likely liabilities.

I happen to live in an area which is as agricultural as you can get, and so the problems here are minimal. Since there is no employment, there is no unemployment!

The problems here are mainly restricted to the ex-pat Brits. For the Dordogne, the problems are much worse. See articles in the Sunday newspapers:

http://www.timesonline.co.uk/tol/news/uk/article5375708.ece
http://www.guardian.co.uk/world/2008/dec/21/france-currencies-expats

However, these two articles seem to dwell on the better-off ex-pats. One of them mentions a couple losing 20,000€ a year because of exchange rates. If I lost 20,000€ a year, I'd have lost all of my annual income, and more besides. I'm afraid we ex-pats are generally regarded as being rich, but in recent years, more and more of us have bought properties abroad not because we're well off, but because the UK property market has enabled so many to sell a property in the south-east of England for a huge price, then to buy cheaply in Europe. And also because until recently, many people thought it is cheaper to live in other European countries - even France!

My initial reaction to the national debt point is to agree, but today Dominique Strauss-Kahn, despite saying the UK's level of debt is disturbing, is suggesting that it is the only way the country can go, and the IMF is apparently urging countries to take fiscal measures and spend their way out of the crisis - as Brown and many other leaders are doing, though the Germans apparently think it's folly.

"We are in the biggest crisis we have experienced for 60 or 70 years and we have to take that into account," said Strauss-Kahn.

And, unfortunately, if they can't, I certainly can't.

seven-day-weekend

If we lost 20 grand a year we'd be in massive negative equity!!! Our income is less than £10k.

seven-day-weekend

Oh Welcome Les D, and lic, I'm sorry I didn't get back to you, but others have so maybe I'm forgiven.

seven-day-weekend

seven-day-weekend wrote: »

Just an update about my husband's Incapacity Benefit, to say that after filling in his IB50 in August, my husband has today heard that he IS going to be called for a medical, but that 'it may take quite a while as it 's waiting for the Spanish authorities'.

So presumably it will be as they say, with an English speaking Dr.

My husband is already worrying about it....

Keep you all posted.

Well a letter turned upfrom the DWP to say that the have contacted a Dr who will let us know in due course.
However, he is in MARBELLA!:eek:

I've rung the DWP up and politely asked if there is a Dr any nearer as we don't live anywhere near Marbella and it is a four hour drive there and a four hour drive back, without the medical appointmant in between.:eek:

Even Malaga is a bit far (3 hours) but we do know Malaga. Marbella is the other side of Malaga and we've never ever been there so would have to allow time to find the surgery.

Anyway, they are ringing us tomorrow with a complete list of Drs and we can chose one. I wonder if they will let us wait until June and see one in the UK?:rotfl:

droopsnout

Who did you ring, s-d-w? The DWP or the Spanish authorities?

seven-day-weekend

The DWP in Newcastle. My former post edited to make this clear!