Maximising Your Assets In A Recession – Should You Move Abroad?

An interesting article was published in the Times on Thursday which highlighted the fact that although many Britons were “seriously considering” leaving the country to avoid the economic slowdown, many expat Brits are also struggling.

It also be argued that this is one of the worst times to leave Britain, as in 2000 the UK pound sterling was worth around €1.70, with the rate today being closer to €1.10.

Instead, Brits are being advised to consider maximising their present assets by ensuring that they maximise the value of their sterling if they do intend to travel.

Stephen Heath, Chief Executive of FairFX was quoted as saying: “Many UK high street banks offer poor exchange rates - anything up to 1 per cent more than the wholesale cost. It is vital that anyone who intends to make money transfers overseas shops around to obtain the best exchange rate.”

Monday 19 January 2009, 05:44pm

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