15 Financial Tips before Becoming an Expat

12. Plan for Currency Fluctuations

No matter what the current market conditions are, accounting for a variance in the exchange rate of the country one is living in against the currency that the primary savings or checking account uses is a key ingredient of success. The amount to use as a conservative hedge against market conditions not working in one’s favor will vary based on the country, but some use a percentage of 20% in the negative depending on the source of income. Prospective expats can also research the market trends for the past few years to note if there are seasonal trends to look out for, as well as the market highs and lows for the exchange rates before making the big move to live and work as an expat.