There was an interesting article in the Telegraph on the 3rd August about the financial problems faced by many expats; the article puts across the argument that many expats are too quick to blame the financial crisis for the problems which they are facing. Here is a basic overview of the article;
While moving abroad can seem like a dream, especially when it involves a job offer and a supportive family, there are things which you should consider before jumping ahead and making a purchase abroad. The challenges of life are no different abroad from the ones which you face at home.
There are all too many expats who pack up and head for the sun, spending their life savings on a new luxurious home, sure the dream can last for a while, but it can also soon come to a halt and there are many businesses and homes around the Costa del Sol which have been abandoned because of financial difficulty.
Without a doubt the recession has contributed to expats problems, forcing them to sell up and move back home, through no fault of their own, but many people bring the problems on themselves by making the move abroad permanent before they have sampled the water. It is important to remember that career plans, finances and the needs of family can change.
This is why planning is important; renting long term enables you to sample the lifestyle changes, while allowing you to be flexible, without causing distress or financial hardship.
What do you think? Do you agree with the Telegraph and think that expats are too quick to blame the financial crisis? To read the full article, click here.
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