How to Save Money On Your Holiday
18 March 2017
Published at 17:15 Comments (1)
Most of us presume that it is cheaper to book your holiday online with sites such as Booking.com, but that may not be true. If you are planning a holiday or vacation, you should certainly check out the rates online, but don't presume that it is cheaper to book your holiday online. Some of the so called discount booking sites are very tempting, but do they always give the best deal? I am not sure about that at all.
I have just booked my annual vacation, and going to be traveling in a couple of months time. Needless to say, I checked out all of the online sites, but I ended up booking directly with the hotel by phone instead. To my surprise I saved just under 200 Euros and got a better room as well. So, what is the secret to saving money on your holiday.
Booking to be Clever
Hotels may put some of their offers online, but far from all of the offers go online. Today, when I booked my holiday, I got a 10% early booking discount for booking with the hotel directly. The young lady who took my booking, also asked me if I had stayed at the hotel previously. No, I said and that entitled me to a special rate. None of these offers were available online or at sites such as Booking.com.
On top of that, I was upgraded to a better room. I simply asked the girl if they had any better room available and she said yes they did. As it was my first time with the hotel, and I was staying for two weeks, she would make sure that I got one of those room. When the booking confirmation came through, I found that I had been upgraded and a free bottle of Cava would be waiting for me as well.
How to Save Money on Your Holiday
Don't be frighten to pick up the phone. It is not the first time I have saved a serious amount of my money by booking by phone. Last year, I managed to get a drinks package included in our MSC cruise. That was not mentioned on the website, but was a special offer for phone bookings. In other words, pick up the phone and give them a call.
Ask questions. There is not harm in asking questions at all. Tell the company it is your first time booking with them, and ask if they have any better deals or rooms for first time bookers. Most of them will tell you if they do. Sometimes you do pay a little bit extra but it could be worth it.
It is not only rooms and booking deals that you want to check out. Don't forget to check out things like meal plans and excursion packages as well. Meal deals are great when it comes to hotels, and they are often more than happy to include breakfast if you book on the day.
Excursion packages can save you a lot of money. Cruise lines tend to offer a lot of excursion packages and two years ago, I got three free excursions when I booked a cruise around the Mediterranean. It sounded like they were anxious to book the last couple of cabins, and I asked what I would get if I booked today. The answer was an excursion package which included Rome.
How to Manage Your Holiday Money
If you are concerned about foreign exchange rates when you travel, you may just want to get yourself a prepaid debit card. There are many different companies which offer prepaid debit cards for overseas travel. Not only do many offer really good exchange rates, but it makes it easier for you to budget when you are on holiday. I have been using them for a few years now, and I think that they are great.
Check out them out online, and you will be surprised how convenient it is to use prepaid debit cards to save money on exchange rates.
So, by all means check out Booking.com,the site does have some good deals, but remember to give the hotel a call as well. Be friendly and nice, and you may be pleasantly surprised. There is after all no harm in comparing prices. I normally check out Booking.com first of all, then I give the hotel a call.
How to Save Money in Spain: How to Save Money On Food
11 March 2017
Published at 16:29 Comments (0)
No matter where you are in the world, food is very expensive. Needless to say, we are all trying to save money on food and make the most out of the food that we buy. Most of the time we end up throwing away a lot of food, but we really should try to avoid to do so if we can. If you are serious about saving money on food, one of the first things that you should try to do is to make sure that you use and eat all of the food that you buy. But, sometimes that is easier said than done.
Top Tip One On How to Save Money on Food
The first thing that you should do, is to make sure that you are making the most of any available discounts on food, or bulk buy deasl. It is often cheaper to buy one kilo of carrots or any food, than it is to buy just half of kilo. However, when you only have so much in your wallet, it is all too easy to forget that. Getting value for money is the key, and often you will find that you will have to be at least a little bit savvy to get the best deal. Don't leave your coupons at home.
Top Tip Two On How to Save Money on Food
Planning ahead is one of the best ways to save money on food. Instead of buying your meat requirements every week, you may want to consider buying your basic meat products once a month. That will allow you to make the most out of deals and discounts available in store. For this to work, you want to make sure that you know what you are going to be cooking. There is no point in going out to buy two kilos of chicken breast if you don't know what to deal with them.
When you come home, make sure that you have enough containers or freezer bags available to store your purchases. You need a freezer pen to be able to write on the bag, and perhaps even some sticky labels you can stick on plastic containers before you put them in the fridge. Divide them up in meal size, or consider cooking them all at once.
Top Tip Three On How to Save Money on Food
Cooking ahead, or bulk cooking, is another cook idea. This can work out really well for you if you are a busy person who does not have too much time to spend in the kitchen. Once you have got your ground beef, or minced beef home, make sure that you have all the ingredients to cook your food. Buying store cupboard basic when they are on special offer can save you a small fortune.
Simple family recipes such as Chili con carne and Spaghetti Bolognese are great when cooked a head. You can simply freeze them and defrost them quickly when you fancy either one of them. If you have invested in a slow cooker, you don't need to stand over the food while it cooks. Simply prepare it and put in the slow cooker.
If you enjoy eating chicken, and love to cook Asian recipes such as curries, you can cook that in your slow cooker as well. Don't be afraid to add things like raisins and sultanas to chicken dishes. They really bring out the flavor of chicken.
Still, we do sometimes end up with something in the fridge which seems to be leftover no matter how well we plan our meals. It tends to be snack and breakfast foods, and perhaps even fresh vegetables. So, what do you with that last left over yogurt? Well, why not add it to a cake recipe and treat the family to some home made raspberry yogurt cake. All you do is to replace any water with the yogurt and you will have a delicious cake for you and your family.
How to Save Money On Foreign Currency Transfers
05 March 2017
Published at 20:02 Comments (0)
When I was enjoying Sunday dinner today, I happened to over hear a conversation about transferring from and to Spain and other countries. The gent was complaining about the cost of foreign currency transfers using his Spanish bank and Paypal. Well, unless you have a very special arrangement with your bank, you are likely to receive poor deals on exchange rates and costs. Paypal is also not really a viable option as it is expensive and the exchange rates are frankly lousy. If you want to transfer money without hassle, and without occurring access charges plus suffer poor deals on exchange rates, you are better of using a company specialising in foreign currency transfers. But, what are the basics of making the most out of foreign currency transfers.
Get Ready to Transfer
Most foreign currency exchange companies work by assessing your personal circumstances. In other words, you need to let them know why you are transferring money. Are you planning a property purchase, payment of an unexpected bill or topping up the funds in your local bank.
You also need to consider if you are going to be transferring funds as a regular activity. It could be that you are going to be living abroad and need to transfer income from a pension or investments on a more frequent basis. This will affect the cost and foreign currency exchange rates.
Are you going to need the funds right away? If you need the money quickly, you will need to have all of the details ready so the transfer can be set up quickly.
The Best Deal
Getting the best deal is important, and you can only get that by doing a little bit of research. Contact your bank and find out what deal they can get for you. Remember to get everything in writing with the banks stamp. Unfortunately banks are not always very good at sticking to their promised deals.
On line services can be great but less reliable. If you choose to go down this route, make sure that you have a contact telephone number and a name of a person. Also, make sure that the company is legal. Companies like Paypal are not really set up to deal with personal on a regular basis, or one off large transfers.
What Should You Do to Make the Most Out of Foreign Currency Transfers?
The best thing that you can do is to talk to a local foreign currency transfer company. Get a few references from other people and make sure that the company is okay. If they have a local office and you can actually speak to an expert, it is probably the best choice for you. Many foreign currency transfer companies have local offices, and the good ones have websites that you help you to set up the transfer. Once you have completed the first transfer, you may even be able to download an App to assist you with further transfers foreign currency transfers.
How to Get the Most Out of Your Pension: Are You An Expat with a Pension in the UK?
19 February 2017
Published at 17:29 Comments (0)
Have you moved away from the UK on a permanent basis but left your pension behind? In that case, it could be that you are feeling a little bit out of control by now. Yes, your UK pension provider may be sending you regular updates on your UK pension, but could you be doing something to increase the value of your UK pension?
Pensioners in the UK have cashed in almost £10 billion since the new pension freedom was launched in 2015. It seems that many UK residents are taking control of their pensions, and you should as well. My personal situation is rather complicated as I worked in the US for a long time, but I also had a UK pension plan. The fact is that it felt rather “faraway”, and I was concerned how a Brexit would affect my pension.
My main concern was that I could not pay into my UK private pension, and I was considering options on how I could possible make the most of it by moving it to Spain. The question is, do you need a financial adviser to help you. As we know, they want a slice of the pie, and that may even reduce the value of your pension.
Savings Plan or Expat Pension
I looked at my UK pension as a savings plan, and I often thought that I would be better of controlling it. In fact, there are many approved pensions plan in various parts of the world which would allow you to transfer your pension directly into them. The good news is that it could have tax benefits if you are still below pension age like myself. It could mean that any future contributions would be looked at favorably by your local tax office. Speak to your local bank, and they may be able to help you without charging you a penny.
Offshore Expat Pension
Of course, there are expat offshore pensions plan which may benefit you. We often think of the banking giants as HSBC being the best ones but that many not be true for all of us. They were able to help me, but only because my private UK pension was with them in the first place.
We all have different financial circumstances, and it is important to acknowledge that. Find out the current value of your private UK pension, and then start looking around the Internet. There are a number of smaller offshore banks that might be able to help you. While you are on their sites, check out their savings rates as well. You may be pleasantly surprised.
What Are the Benefits of an Expat Pension Plan?
You may be able to receive your pension is another currency. We can all agree that the next ten years or so, will be a volatile time for foreign exchange rates when it comes to Sterling. It might be better to see if you can transfer your pensions pot to another major currency.
Lower Retirement Age
Lowering your retirement age to 55 + plus is something a lot of companies talk about. I am not sure that is a good idea. If you are already living abroad and managing your finances without having to resort to this measure, it is better to leave the money invested.
Tax Free Pension Deal
You may be able to get a tax free deal. Yes, that could sound tempting but it only really applies in the vast majority of cases if you want to claim on your pension.
How to Contribute to Your Pension
Something that a lot of financial advisers do not discuss with you, is the fact that you may want to carry on contributing. If you are working abroad and find the right home for your pension, there is no reason why you should not be able to do that.
Perhaps you should take control of your pension and make the most of your retirement income,
Why You Should Consider an Expat Savings Review: Expat Pension Plan, Foreign Exchange Rates, Health Insurance and Offshore Banking
15 February 2017
Published at 21:06 Comments (0)
Life is all about money, and when you are an expat, you will find that your financial circumstances are particularly important. You may even be surviving on a fixed income and have limited financial resources available . If that is the case, you should certainly consider an expat savings review. The truth is that you may have other financial resources available that you are not considering.
Tax and Property for Expats
Tax is a very factor that we often forget about. If, you for instance still own a property in your home country, are you making the most of it? It could be that your property is in your own name, but the property could be better off in a trust. Once we have moved to a new country, we often forget to look after the assets that we leave behind. A property is a typical example of that.
Pensions for Expats
What about your pension's savings? If you have pension's savings, or a pension plan, it is very tempting to forget about it and tell yourself that it is doing okay. The truth is that your pension might be better of in other investment fund. Most companies will now allow you to access your pension, and the way you move forward and re-invest your pension matters a great deal.
Expat Money Banking, Expat Foreign Currency Transfers and Offshore Banking
Do you have money in the bank? If you are in that situation, you need to check any interest you might be receiving. But that is not the only issue that you should consider. Is your money in the right currency, and are you getting the best exchange rate for any money that you are receiving. If you need to pay your bill in a certain currency, it is a good idea to keep an eye on the foreign exchange rates, to make sure that you are getting the best deal.
Expat Health Insurance and Other Expat Insurances
What about expat health insurance? Staying with the same company all of the time may be tempting, but does it give you the best deal? Once again, it is really important that you check out if you can get a better deal. Forgetting to review insurances policies is something that an cost us a lot of money. Expats often spend a lot of money on specialist expat insurance policies than people resident in their country of origin.
Don't Forget the Funeral Plan or Funeral Costs
When you complete your own expat savings review, or use a professional company to complete your expat savings review, it is vital to consider all of these factors and many more personal financial circumstances that you may want to take into consideration. Many expats for instance worry about funeral costs and arrangements, and it could be a good idea to invest in an expat funeral plan.
There are many unique financial circumstances when you are an expat. Make sure that you don't sit back and let your circumstances control you. Take charge of your own financial circumstances and make the most of them. Perhaps you should consider them financial opportunities instead.
How to save Money on Beauty By Using Baby Care Products
13 February 2017
Published at 21:18 Comments (0)
There are some great baby skin care products which can be used for adult skincare.The great thing about many baby products is that they are very gentle and often PH natural. Skin is very delicate and it is to forget that it is actually the body’s largest organ. The skin works really hard and is exposed to environmental toxins such as fumes from vehicles. It is also exposed to the sun and the sun can cause serious skin damage. Wrinkles can be another skin problem for many people, and they do occur naturally however baby products contain fewer chemicals and are therefore more easily absorbed by the skin.
Baby products for adult skincare can include baby oil, baby soap and baby skin care lotion.There are other recommended baby products as well such as baby bubble bath which is less drying than adult bubble bath, and baby skin care wipes which can gently remove make-up.
Baby oil is normally unscented but it can be purchased scented as well. Common scents include chamomile and lavender. Choosing to buy unscented baby oil makes adding a personal scent easy. Baby oil is normally not very expensive so splashing out on a favourite aromatherapy oil, or perfume oil, does not break the bank. It is easy to mix and personalize baby oil. Dividing up the baby oil into smaller glass bottles and adding an essential oil is a good idea. This creates a personal body oil range and an instant choice of blends. Personally blended oils can also make great gifts. The best bottles to use are glass bottles. They tend to “hold” and preserve the scent the better.
Baby soap is a good alternative to ordinary adult soap for allergy or eczema sufferers. It is really gentle and does not dry out the skin which is important. Most baby soaps are PH neutral and can be used on the face and on other sensitive areas such as elbows, under the arms and for more intimate use.
Baby skin care lotion is the big beauty secret major skincare product manufacturers would like to continue to keep under wraps. Many women have discovered this gentle treatment for wrinkles, or mild rashes. It can not only be used on the face but is also great for feet and hands. Once again baby skin care lotion can be divided up into smaller quantities and “personalized”. For the face and neck baby skin care lotion can be blended with essential oil of Myrrh and Lotus. Myrrh is famous for its anti aging properties and is especially good for wrinkles on the neck. Lotus essential oil is another anti aging treatment and gently moisturizes the skin in more sensitive facial areas. It is especially good for wrinkles around the lips. Orange essential oil can be added to baby skin care lotion and used as a foot cream. This oil is good for circulation and slightly anti septic. One of the main advantages of using baby skin care lotion as a hand cream is because it is easily absorbed and mostly non sticky. Essential oil of Geranium makes a good addition to lotion when used as a hand cream as it pleasantly scented and may help to reduce age spots.
When blending and making personalized skin care products it is worth bearing in mind that making smaller batches is better as this makes sure the products stay fresher.
How to Save Money on Food: Five Top Tips on How to Cut Your Grocery Bill
10 February 2017
Published at 17:37 Comments (0)
Waste not want not has always been my personal motto. Nothing could be more true when it comes to food. A staggering 88 million tones of food are wasted every year in the EU, and the associated costs are estimated to be 143 billion Euros. That is lot of food and a vast sum of money. The waste comes from homes as well as businesses such as supermarkets. No wonder food is so expensive.
I am sure that businesses are thinking about how they can cut down on food waste, but more importantly, how can we cut down on our food and grocery bills.
Cut Down on Waste
The first thing you want to do is to look at if you can cut down on waste in your own home. It could be a much better idea to buy just what you need. Fresh food goes off quickly, so unless you are planning on eating it right away, it might be a good idea to buy frozen or tinned food instead. Think about what you can do with any leftovers that you have and how you can use the food. Basically, don't throw anything away unless there is something wrong with the food. The left overs from Sundays' beef casserole may taste great over a baked potato.
Look Out for Discounts in Supermarkets
Supermarkets, not only in Spain, but in other parts of the world as well, like to hang on to their customers. Supermarket loyalty does not really pay, and if you are a bit disloyal to your supermarket, you are much more likely to hand up with vouchers. Think about how you are doing your shopping. If you have a 10% discount voucher for the meat counter, you may want to spend it on a stock up shop.
At the moment, this is what I do. I take my 10% discount voucher and buy all of the meat that I need for the month. For some reason, I seem to get the same voucher every month, so I go to the same supermarket. The supermarket that I go to have lots of offers anyway, and combined with these offers, I save a lot of money on meat products. Last month, all my meat products only cost me 30 and lasted all month with a bit of savvy shopping.
Who says that you cannot plan your meals ahead? Some people plan their meals for the entire month. I know roughly what my family likes to eat, so I plan my meals a week ahead. When I go to the supermarket once a week, I only buy what I need and I am rather strict with myself. I don't have to worry about buying meat products as I already have those, so I focus on other products such as vegetables, fish and what else I need for the household. Buying frozen fish might be a good option instead of buying fresh fish. Remember if you get a discount voucher for frozen food products, it will include all frozen food items.
Stick to the Shopping List
I know that it can be tempting to stray outside the shopping list, but you are not doing yourself any favours. One you have decided what you need in the way of food and other items for the home, just buy what you need. A good idea to make this is easier, is to check out what special offers and discounts supermarket have available. These days, thanks to the Internet, you can easily do so online. It only takes a few minutes and you end up with a list for each store. Together with your meal planning, this can save you a lot of money.
Buy Generic Products
Unless you have some fantastic discount vouchers, you will find that it is often cheaper to buy generic products. Most generic products are just as good as many brands and you can save a lot of money. As supermarkets control the cost of their generic products much more efficiently, you may find that you will even pick up some discount here as well. Last month, I paid half price for a supermarket's own generic washing powder when I received a special discount voucher. I had used the product before, and knew it was great. With my discount voucher, I ended up paying €2 for a detergent which promised to do 40 washes.
Saving money on your grocery shopping and food bill is not hard, but you need to apply yourself to it. Don't take it for granted that you are going to save money. If you are serious about making cost cuttings on your food bills, you really do need to get your grey cells going. One more thing, don't give into the temptation of impulse buys.
Don't forget to constantly keep an eye on your outgoings. Thousands of ex-pats around lose a lot of money by transferring currency in the wrong way, or not getting the best deal an ex-pat health insurance. Being an ex-pat in any part of the world is a real mine field, and many assume that ex-pats are all millionaires. Is that true? No, I don't think so.
How to Save Money in Spain When You Are Retired: Expat Health Insurance, Offshore Banking and the Importance of an Expat Savings Review
01 February 2017
Published at 17:29 Comments (0)
Saving money when you are retired may not be that easy. However, when you start looking around, there are a few ways you can both save and make money when you are retired. Unfortunately, interest savings rates are at an all time low, and this does not make it any easier. But, if you do get a little bit more financially savvy, you will find that there are some ways that you can save money, and make money, when you are retired. You may even want to consider foreign currency exchange trading, but that is a different story.
Saving Money on A Regular Basis
If you can afford to, it may be a good idea to save money on a regular basis. Many banks and building societies will offer you a better interest savings rate when you save money on regular basis. Putting away anything from £20 - £500 per month can get you a better savings rate. This is actually a very good way of saving as you can save up for something special. You may want to save up for a special holiday, cruise or even some home improvements. We often overlook saving on a regular basis as we get older, but it can help a lot.
Saving Money By Locking Your Money Away
Saving money by locking your money away is a good alternative. If you have a savings pot in one bank account, but feel that you don't need access to it all, you should consider locking your money away. This simply means that you take a certain amount of money, and put it away in a separate account for an agreed period of time. It may be over one year, two years or perhaps even five years. There are lots of deals out there, so before you go for this option, check out what is available. Off shore bank accounts may offer better saving options if you would like to look your money away. Speak to a financial adviser. They don't mind and many of them have some good ideas.
Save Money By Switching Bank Account
Most of us use the same bank all of the time, but the truth is that we may be better switching banks. The good news is that you don't need to switch all of your accounts. You may be able to keep your current account in your original bank, but switching your savings account. A lot of banks like to attract new customers by offering better rates, so it is an option you should check out. In some countries like Spain, savers switch their savings accounts all of the time. They simply hunt out the best deals every year or five years. It is a good point and something that many people often forget about. I know that it may seem easy to keep the same bank saving account, but is it making you any money?
Over Paying Your Mortgage
If you still have a mortgage, you may want consider over paying your mortgage. But, there is a big BUT, speak to your mortgage provider first of all. Some mortgage providers don't like you doing this as it means they lose interest, and there could be penalties to pay. However, it is still a good idea, and there is a good way around if you would still like to pay off your mortgage earlier.
You could set up a savings account, and let the balance build up. Once you have reached a certain amount in your account, get in touch with your mortgage provider and ask if you can come to a deal. As a lot of providers also like to clear down loans, they would probably be more than happy to talk to you. This option works very well if you have a repayment mortgage with about £20,000 to £30,000 left. If you can save £500 per month, it would take you less than 3.5 years to pay off a £20,000 mortgage.
Check Out Your Debts
When you have a lot of costly debts, make sure that you get them paid off before you start saving. It is still fairly easy to get what I call "bad credit". Pay day loans can end up costing a fortune, and so can that holiday or Christmas celebrations you paid for by using your credit card. Be honest about your debts and get them paid off. You should not live with debt for the rest of your life.
Don't forget to make sure that you are getting the best deals on foreign exchange rates, expat health insurance and expat financial advice. Arranging a savings review is a good idea. The expat financial market is very specialized, so you want to aim for a specialist expat savings review as it may mean getting some excellent tax advice free of charge.
Saving Money in Spain: Weekly Saving Ideas For Your Life in Spain
29 January 2017
Published at 13:57 Comments (0)
How to Save Money on Fuel in Spain
More and more supermarkets and businesess in Spain are beginning to hook up with petrol stations, and offer discounts. Carrefour offers 4% off with Cepsa, and you get your 4% back in your Carrefour club card. The good thing about this scheme, is if you also have a Cepsa card, you will still get points towards your Cepsa card balance.
Dia supermarkets also offers a 3% discount with Shell petrol stations. Shell also offers a loyalty card called Clubsmart. For every liter of fuel that you put in your vehicle you will get one point. When you sign up, you initially get 200 points towards your balance.
Check Your Supermarket Receipt
How often do you check our supermarket receipt? The other day as I was paying for my grocery bill in the supermarket, I thought it was a bit high. When the check out assistant gave me the receipt, I stepped to one side and checked it. To my surprise, I had been charged for freezer bags that at Euros1,41 I had never purchased, and I had also been over charged by 60 cents on avocados that I had bought. Funnily enough, the lady behind me had also been charged for freezer bags that she had never bought. In total I had been overcharged by Euros 2,01.
Not everyone leaving the supermarket checked their receipts, but I keep on wondering if they had been charged for freezer bags as well. One hundred shoppers would have mean another extra Euros 141,00 for the supermarket without anybody having bought them.
Get Coupon Savvy
One of the best ways to get more vouchers from your local supermarket, is by being disloyal. Two eeks ago, I was “disloyal” to one of the supermarkets that I do my weekly shopping in. The next week, I was given a 10% discount off their meat counter. As they had some really good offers on, I popped into to claim my discount. My purchases from the meat counter came to Euros 12,10 and yes, I did get my 10% off at the till. A fantastic saving altogether with good prices on meat and my extra 10% discount.
You can pick up saving coupons online in Spain. Check out sites such as www.cuponesespana.com. Sign up for their newsletter, and they will let you know when they have coupons available. They also have a sister site where you get free samples.
Buy Generic Medications
If you are not entitled to the Spanish National Health, you may be paying out a small fortune for medications. Saving money by buying generic medications is a good idea, and most pharmacies do stock generic medication. It is just a matter of asking for it. The most popular pharmaceutical company here in Spain is called Normon, and they are based in Madrid. All of their products are produced in Spain, and are excellent qualities. If you would like to know more about Normon, check out their website.
Saving Money on Currency Transfer
No, you don't save money by transferring your money in between the UK and Spain using Paypal. It is actually a very expensive way to transfer money in between two countries. I know that a lot of people advocate doing it, but it is really expensive. If you truly want to save money on foreign exchanging currency, you should use a specialist such as an expat currency transfer company. Yes, a local paper recently recommended Paypal, but it is way too expensive. Another service similar to Paypal called Propay was also mentioned. It can work out expensive so check things out carefully before you proceed. All in all, it is better to use a professional foreign currency exchange service. You will be able to speak to somebody in your own language, and the company may even have an office near you.
Top Tips for Expat Health Insurance
24 January 2017
Published at 20:06 Comments (1)
Private Expat health insurance is becoming more and more popular. Lots of people now think that national systems such as the NHS are close to collapse. The truth is that many national governments are under huge strain and are having a tough time offering good quality medical cover. But, is health medical insurance worth it and how you can save money on your expat health insurance policy? Should expats rush to take out health insurance to ensure medical cover before Brexit goes through?
Are You Healthy Enough for Your Expat Health Insurance Company?
If you are considering taking out expat health insurance, it is worth considering your "good points". That is a funny statement to make but it is very true. So, what are your good points? If you are a non-smoker, you can certainly consider this as being one of your good points. Most insurers will load, or make your expat health insurance premium more expensive, when you are a smoker.
Another good point which can help is being the right weight for your height. Obesity, and overweight, brings a whole host of health problems. Most doctors will tell you to lose weight if you are overweight, so make sure that you are a healthy weight when you take out private health cover.
If you are a regular gym goer, or exercise a lot, it may help you to get lower premiums. It is well known that people with a healthy lifestyle suffer less health problems. Also, don't forget that alcohol comes into it. Your insurer is much more likely to offer you a better rate when you are not a "big drinker".
How to Self Insure for Expats
This sounds really funny to most people, but I came up with the idea when I lived in the States. In the United States health insurance is a real minefield and very expensive. Even though I was young when I lived in the US, my health insurance used to cost me a lot of money per month.
To reduce cost, I reduced cover but I started to put money into a savings account instead. The money was meant to build up, and help me to cover any extra medical costs. Fortunately, I never needed it, but I have kept the idea going and I still put away a little bit of money every month.
How to Pay for Expat Health Insurance
How you pay for private medical insurance can save a lot of money. If you are able to prepay for a whole year, you may find that you will get some better rates from your insurance company. I pay for mine a year at a time, and I do this by saving money in a savings account. When my premium is due, I simply use this bank account to pay for my health insurance. This way I do save a lot of money by the end of the year.
Expat health insurance is a very competitive business, and don't forget to get several quotes. Make sure that you compare the quotes from expat health insurance providers. It is all about value for money and making sure that you are getting the right cover for your circumstances.
Spam post or Abuse? Please let us know