Expats with income paid in sterling have been hit badly by the currency’s weakness in the past months. They typically spend more money on day-to-day living costs simply because they get less for their sterling once they convert it to the local currency.
British charity the Consumer Credit Counselling Service says has it has seen a third more calls than usual from people overseas having difficulties paying UK debts. The majority of these originated from people living in Eurozone countries, where the near-parity between the euro and the pound has left many struggling.
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While the opportunities of living overseas can be great, there are risks associated with them. Have any of our readers had their lifestyle affected by fluctuating currency rates?