As an expat we know you are dealing with a lot of changes, between a new home, new cultures, and new faces. Unfortunately, even with the new opportunities that come with moving abroad expats are not immune to dealing with debt.
Debt recovery solutions for Expats
Start with a debt management action plan
Get a clear picture of your finances as an expat
To get your full financial picture money and budgeting services recommend breaking your finances into 5 parts to understand your full financial health as an expat.
1. List any incomes you have
2. List every expense you have, insurance policies, mortgage payments etc...
3. Calculate and list all your bills and debts or any money you owe
4. Note any information you have on your debts including due dates, interest rates and creditors
5. Estimate any of your assets, this includes savings, property, shares, and cars
This will provide you with a clear picture of what you are facing, and what you can afford to pay back. You can use your now informed understanding of your finances to map out an action plan. A budgeting calculator is a great tool to manage your expenses and payments each month.