How to save money in Spain

It is now some time ago since the UK voted to leave with EU in effect causing what has become known as Brexit. Watching the PM speak on the TV this morning, it was clear that she was not rushing to trigger Article 50 which is the agreement which allows a member to leave the EU. She seemed very determined, and it certainly sounds like Article 50 is not going to be triggered this year.

Many ex-pats feel that they have been left in limbo, and of course there are financial concerns as well. Most UK residents abroad are concerned about the value of the pound as it still at a very low rate. This affects the vast majority of pensioners living in Spain. It is of concern as it has slashed the value of both private and state pension incomes. Living in Spain is not getting any cheaper, and grocery prices have risen rather sharply in the last year.

Despite a lot of positive thinking from the UK government, there are still many dark clouds hanging over the value of the pound and the UK economy. The IMF has downgraded global financial growth forecasts, and there is real concern over global manufacturing output. After all, the UK is a major consumer economy, and if people do not have the confidence in the economy, they will spend less.

We seem to be stuck in between a rock and a hard place, and as any clear direction has not been forthcoming, many ex-pats feel that they are being left waiting for news one way or the other. If, you are transferring money from the UK on a regular basis to finance your life in Spain, it is now more important than ever to count the pennies or cents. Make sure that you are getting good quality financial advice, and use a currency transfer service which give you good value for money.

It might also be a good idea to look at saving some money as well. Getting in touch with a local financial adviser in Spain could be one way of doing that, and there are many good choices available. Try to cut back on your bills by shopping smart and making sure that you are getting the most of any deals which are available. Cutting everyday living expenses can help a lot. Life in Spain does not offer so many opportunities to do so, but once you start looking around, you will find that there are at least some opportunities out there.