Guest Anouska Posted June 15, 2011 Report Share Posted June 15, 2011 Hello all, Is it just me or is anyone else extremely worried about the exchange rate at the moment ? When we started our visa process it was around 2.3% now 1.5% Does anyone have some good advice? As I must say at the moment having second throughts about moving over:unsure: It would be good to hear from anyone who feels the same. Regards a worried Anouska xx Quote Link to comment Share on other sites More sharing options...
Guest NeilEB Posted June 15, 2011 Report Share Posted June 15, 2011 The only advice I would give is that it's not going up anytime time soon.... HOWEVER: The exchange rate only really impacts you if you have a sizeable 'chunk' to move out with, or if you originally planned that you'd be able to buy a large house on the beach and now you can't afford that anymore. There are lots who have now decided not to go or are having second thoughts - only you can decide how much it will impact you. But to look on the brightside: when you go back to the UK for holiday, or shop online, everything will seem cheaper :-) And because I'm nice, read here for more thoughts - you certainly aren't alone! http://www.pomsinoz.com/forum/money-finance/113351-exchange-rate-1-1-49-putting-you-off.html http://www.pomsinoz.com/forum/dilemmas/112878-everyone-still-up-going-bad-exchange-rate.html Quote Link to comment Share on other sites More sharing options...
Guest Anouska Posted June 15, 2011 Report Share Posted June 15, 2011 Thank you It is such a worry, we've had a 5 year turn around and now it could all cone down to the exchange rate :( Will have a look at those links, Anouska Quote Link to comment Share on other sites More sharing options...
Guest Har00n Posted June 15, 2011 Report Share Posted June 15, 2011 Agree with Neil, it only really applies if you have a large chunk that you were wanting to take with you. it actually works in my favour, as i'm NOT taking money across, but actually will be sending money BACK to the UK. means i'll get more for my Aussie dollars than i would have. Plus, as i'll be earning in Aussie dollars and spending in aussie dollars, its actually works in my favour. Will be earning more there than i would have here, if the exchange rate stays this way. The links in PomsInOz are good. I think moneycorp also have like weekly or monthly post on aussie economy and exchange rates over int he money section in pomsin oz. Quote Link to comment Share on other sites More sharing options...
Guest 4lex Posted June 15, 2011 Report Share Posted June 15, 2011 'tis bad, and has been that way for a good while. Do you really need to bring the money right away? We've left ours there for the time being. Quote Link to comment Share on other sites More sharing options...
Guest Anouska Posted June 15, 2011 Report Share Posted June 15, 2011 Thanks guys, How much do you mean by a large chuck? You are all being very helpful and reassuring that we are not the only ones. Thanks again Anouska x anymore info still welcome!! Quote Link to comment Share on other sites More sharing options...
Guest NeilEB Posted June 15, 2011 Report Share Posted June 15, 2011 I get a daily email stating the exchange rate - for the last few months it boucnes around 1.51 and 1.55 or so. The problem with leaving the money in the UK, is that I can't see the rate rising anytime soon - so it depends how much we are talking about, and how long you are able to be without it for. I suppose another good thing with leaving it in the UK, is if it doesn't work out, you haven't lost anything on commision etc Like Har00n, I'm not taking much with us - maybe £30,000 depending on the house sale, and I only started the process in November, so the rate hasn't changed much in that time. I think it's fair to say the dyas of Oz being a cheap slice of heaven have long gone. It's still a slice of heaven, just not cheap anymore :-) Quote Link to comment Share on other sites More sharing options...
Guest Har00n Posted June 15, 2011 Report Share Posted June 15, 2011 BTw Neil... Love the bananaman suit! (sorry to go off-topic, ive only now clicked what you were wearing!) Quote Link to comment Share on other sites More sharing options...
Guest NeilEB Posted June 15, 2011 Report Share Posted June 15, 2011 Thanks guys, How much do you mean by a large chuck? How much would we need to bring just to get set up? You are all being very helpful and reassuring that we are not the only ones. Thanks again Anouska x anymore info still welcome!! These are all pretty personal questions that only you can answer I'm afraid. What you need to do in my opinion, is forget the 'good old days' and look at the current rate. How much will you be taking, and how much that that now work out to in dollars (I don't need to know the figures, this is a question for you!) You can get shipping estimates, flight estimates. Then it's up to you. Will you be going to a job? In which case your start up costs can be relatively low (enough for rent and bond, buying a car, etc). Quote Link to comment Share on other sites More sharing options...
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