A new study has revealed that many British expats believe their children enjoy a better quality of life abroad than they would have back in the UK.
Moneycorp.com, the international currency company, recently conducted research looking at the opinions of expat families with regards to their quality of life. The majority of the respondents, 80 percent, claimed that they felt their children now had a much better quality of life now that they live abroad, with 85 percent also stating that they planned to live abroad for the foreseeable future.
In fact, the desire to stay away from the UK is so strong that 25 percent said they would attempt to find another location before they moved back to the UK, if they had to leave their current home. Expats even noted that in some cases their living costs were higher than in the UK, but this still did not outweigh the benefits of living abroad.
However, Moneycorp warn that expats could fall afoul of currency fluctuations if they are not careful. Moneycorp manager David Kerns said, “As the pound weakens, it’s especially important that expats speak to currency specialists to guard against these adverse fluctuations. By locking into favourable exchange rates for up to two years expats can protect themselves against the pound losing further value, as well as avoiding potentially costly transfer fees. Over a series of payments, these savings can run into the thousands of pounds, particularly if they are regular occurrences such as mortgage or pension payments from the UK.”