Not all bad on the Exchange Rate ..........!!!!
We were also (18 months ago) on a dropping £/$ and it was a huge drop in the dollors we ended up with.........but look on the bright side, there is a flip side to this.
Australia has just put up intrest rates, the first of the developed countries to do so, for the second month in a row the unenployed rate has dropped, and house prices are showing signs of rising, I know how much people bring has a huge bearing on the start they will get , but be a assured that the Australian economy is in a very good position in the world right now, and the word recession doesn't even get used, just trying to shed some goodness on the falling rate:)
we really could use something positive!!
so far we had every negative possible on our journey :(
I hope it picks up soon because financially we will be in no better off position in Oz to what we are here in the UK. We were hoping to be mortgage free but at the moment we need to find another $80k
It has worked out well for us as we had to send all our savings back to the UK to pay the shortfall on the mortgage as we have finally sold our UK house for £75,000 less than the asking price!!! Had to get rid of it so we could move on and start living our lives here without being in fear of bankruptcy!!! We have saved quite a few thousand dollars sending the money back now, which will in turn help us to landscape our garden in our new beautiful aussie house. Things are finally looking a bit more rosie in the Church household and we are loving every little minute!
Good on you for showing some positives, and I agree with the sentiment.
Originally Posted by graandjac
While these are important indicators of a resilient economy, some of these still hurt, though, for many people: fewer and fewer migrants can live mortgage free, so rising interest rates can hit the pocket, and for those who don't yet own a house, rising house prices pushes the dream that bit further away ...
Still, I'm glad that Aus has weathered the GFC as well as it's done!
Money doesnt necessarily make you settle any better in OZ, we came with a good amount, came bk to the UK & will be going bk to OZ with prob enough just to start us off with a car.rent etc, but I know it will be much better 2 nd time round, we will never be morgage free, but I do not care, in fact I may not ever buy a house again, but that doesnt matter either to us, we all have different wants & needs in our lives!
good luck to all stressing about rates etc, best to focus on what you are moving to OZ for, not about how much money you can make or save!
I have to disagree with you a bit there. No, money shouldn't be the most important issue here but the difference in struggling to pay bills every month and being quite comfortable will always have an impact on life i think. With the exchange rate dropping and interest rates rising those if us coming over in the near future are going to be a lot worse off than origially planned. I know it has changed our original plans on what size/type house we wanted and which area to live in. It also has an impact on what jobs we will need to go for regarding what we are paid. Yes we would come over and have a better style of life etc but to go from the dream of a nice house with pool and have very little mortgage (if any) to having the same house with a large mortgage is slighly worrying. We would be no better off financially to what we are in the UK and that was one of the main factors in our new life.
Originally Posted by mayjess
Were building a pretty big house on a not bad sized piece of land, we could never afford it in the yUK....we could only dream of owning our own place, let alone building our own back in the wetlands...
So something has to different over here????
Originally Posted by covfan71
`You just cut your cloth accordingly`
If you try to spend what you havent got, then yes you will struggle! If you want a life of sunshine & beaches & it means you have to rent a little house with no pool, to get live in OZ then you can still find happiness, I agree we dont want to be worse off, but depends on what you think as better off to worse off!!!!
That's exactly the point i am trying to make. This time last year we could have bought a $400k house and been mortgage free. At todays market we will only have $280K. That dream you had when you moved to Oz, buy piece of land and nice house (and couldn't afford in the UK) wouldn't be here if you were emigrating now. Last year you would definitely get far more for your money - at that is the difference.
Originally Posted by HEAPS GOOD !!!