Budgeting
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By: Justin Aldridge
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| Not everyone retiring or
emigrating to Spain has the funds to lead a millionaire’s lifestyle in
Marbella. On the contrary, many people have the intention of leading a more
simple life, even along the Costas. However, unfortunately the reality is
due to a lack of information and little planning, many people find that the
costa living (pardon the pun) can be on par with that of back home and in
some cases even more! Planning your budget for a new life in Spain should take place before you have even left the UK. Be imaginative and plan for the worst case scenario. Of course, everybody’s financial situation will be different but people need to make an allowance for the following and what ever else comes to mind.
Removals. |
Insuring
it and paying for it to be put in your name, oh yes you have to pay for
that! Renting until you have found somewhere to buy or your off plan has been issued the License of Occupation. Storage for your belongings whilst you are renting. Furniture and all the work associated with your new home. School fees. Medical Fees. |
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| The list
is endless.
During the settling in period of about six
months, people new to their life in Spain waste so much money before
they eventually get their bearings. You will feel like you are on
holiday until you become immune to the beautiful weather and notice
that your bank balance has plummeted. Young families and couples who
need to earn an income should be very careful as sadly many are
forced to return to the UK every year due to a mixture of bad luck
and unrealistic expectations. |
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| Unlike in the UK, where we are following
the US with economies of scale and good quality retail bargains,
when products are cheap in Spain, it usually means they are poor
quality. For example, you can buy a t-shirt from Tesco or Primark
and the quality is reasonable and it will probably last at least a
season. On the contrary, in Spain, you will be lucky if a cheap top
lasts a couple of washes. Keep an eye on your food shopping bill. There is a particular supermarket which stocks British brands at extortionate prices. Adapt your eating habits and you can save yourself loads. You don’t need to buy Kingsmill bread; there are Spanish equivalents. Check out Mercadona which is great value and excellent quality. Their own brand foods are excellent. I particularly recommend their Tiramisu in the dessert chiller. Okay, their choice isn’t overwhelming, but they stock everything that you need and their stores are a manageable size. You find that you eat more healthily without being tempted by an array of ready meals and you get your shopping done in half the time. Eating out can be another money drainer if you don’t know the places to go to. Don’t go to the obvious touristy haunts. Drive half an hour to an hour inland and try out a “venta”, where a family of four can enjoy a delicious Spanish home made style cooking for as little as fifty euros. Of course, it is all trial and error but keep your wits about you. I find that the best bargains are always to be had if you follow the Spanish. Watch where they shop and go out to eat and you shouldn’t go too wrong. |
the end
About the author: Susan Pedalino is Masters Degree qualified in Intercultural Communication and teaching English as a foreign language. Susan regularly writes for www.eyeonspain.com, the Spanish off plan property forums website and www.eyeonworldwide, the overseas property forums website. View their website at: www.eyeonspain.com
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