Re: How will Brexit affect your finances?
 

Pete, Which news was that, BPI and Forex are both showing low 64 GBP>Ph

Re: How will Brexit affect your finances?
 

CNN Philippines this evening. BPI still showing 64 as you suggest. Interesting to see what it is tomorrow morning.....when I get my monthly transfer from the UK...

Pete

Re: How will Brexit affect your finances?
 

With CNN Ph the rate will be Fridays rate, just above the rate you will see a date and that will be Fridays. That will be there until about midday Monday.

There is grim news regarding exchange rates and private pensions coming out of the UK, even from pro Brexit campaigners.

I have spent most of the last 48 hrs reading the prognosis for the Exit and despite many so called experts have no clear idea what will happen the general consensus seems to be is that everything will stabilise over the next few weeks and then basically start to go South once the EU put their final and only offer on the table, of which the UK will have two choices, take it or leave it. Not sure if I am lucky or not but all my pensions ( private and government ) are from Norway, Sweden and Denmark and up to now seem to have held their own but I am sure Monday will adjust that.

Re: How will Brexit affect your finances?
 

Thanks Stokkevn for putting that straight.

Better tighten the belt....again

Regards

Pete

Re: How will Brexit affect your finances?
 

Any suggestions on how to explain to my wife that her pocket money will take a hit because of Brexit. PS she has lived in the UK for nearly 30 years ( 2 years longer than me ) but yesterday asked me what the EU was.

Re: How will Brexit affect your finances?
 

Hi Stokkevn, your wife is in great company because, in the 24 hours preceding the referendum, the most searched for term on Google UK was "What is the EU".

Re: How will Brexit affect your finances?
 

I saw that on CNN and Asia news. Brilliant that our lives have been changed by people who have no idea what they are voting for.

Security I am not worried about as more info exchange is better regardless where you come from, trade I am not so worried about in the long run as the UK imports nearly 20% of the EU exports most of which could be provided by our commonwealth countries. The service industry could/will struggle with reduction.

On the positive side I think someone has won a football match, no idea who or when.

Re: How will Brexit affect your finances?
 

The exchange rate has dropped to 63.1. Nightmare!

Re: How will Brexit affect your finances?
 

Don't be surprised if the Pound is driven much lower this week as the Chinese and Indians will use this device to invest in he UK at significantly lower costs.

Re: How will Brexit affect your finances?
 

Surely it went down this morning because the Asian market is divesting in the UK right now

Re: How will Brexit affect your finances?
 

I'm still grimly holding on to the idea of the fall in the exchange rate being a price worth paying.

I don't have a problem with the idea that some people didn't understand too well what they were voting about. They probably had a vague idea and that's good enough for me. On the people Googling up to the last minute - well, better late than never!

A BBC reporter interviewed two middle aged men in Leicester who never vote in elections - until now. There must have been many others like that.To me that highlights the problem of the UK voting system. A change to it was voted down in another referendum a few years ago. After this there might well be more support for some sort of change to make more votes count. Unfortunately, that would need yet another referendum!

But let's also spare a thought for those Filipino Expats in the UK.

Re: How will Brexit affect your finances?
 

Simon, The Asian markets will divest with the view of making a killing later. Much pain to come unless there is evidence of decisive leadership from the UK Govt. Cameron has been labelled the worst PM in a 100 years (The Torygraph no less) and Corbyn is a second Michael Foot. What will George Osborne say at 08.00 BST?
The fun has only just begun!

Re: How will Brexit affect your finances?
 

I believe that EU was googled so much was because the British people wanted to make an informed opinion before casting their vote on this historic referendum. To comment otherwise is mischief making.

The shame is the 8 million who did not vote. I believe that those who were unsure or did not vote would have voted remain....the safe option.

I saw the Governor of the The Bank of England making a statement last night saying that he was prepared for this and arrangements were in place in case of this eventuality. We shall see....

Pete

Re: How will Brexit affect your finances?
 

It's coming out now that a lot of exit voters voted so as a protest against the government. Didn't think to deeply about the consequences I suspect. Places like Hull which has been largely rebuilt on EU money heavily volted out, aim foot shoot.

Re: How will Brexit affect your finances?
 

The PNB in London is showing 63 this morning. Ominously the BPI Europe in London is still showing Sunday's rate of 64.7.

Whatever George Osborne says today it's a good idea in my view to plan on the basis that the pound will remain at least around its present levels for some time. If things turn out better than the consensus expects - and there's been a number of those surprises lately - we will have a bonus.

It's a long time until until the Conservatives get a new leader. Interestingly, Boris Johnson is now making overtures to the Remainers and that may help.

Can I just move on to a different angle on this? This won't be relevant to all British Expats here, but for those of us on a fairly tight budget, possibly looking at our incomes around 10% down on a few months ago with the situation possibly persisting, what sensible economies can we make in our household budgets?

Live on sardines? Give up KFC for Jolibee? Buy 2 ply toilet roll rather than 3 ply? Or even just use the sprayer!

Joking apart, I will kick the ball off with a suggestion for those who do a fair bit of texting of mostly short messages every day. If you have a device connected to the internet you can use the free text site Send Free SMS | Unlimited Text Messages Worldwide. I've been using the service for some time. Not too difficult or slow to use, once you get the hang of it. I've checked it works quite a number of times and it always seems to - unlike a couple of others I tried. Saves having to buy cell load so often,too.