Sending Money Home
Hey fellow expats!
I'm from the U.K and now living in New York. I've been here for about 4.5 years now, working for coming up to 3 years and thus I earn a salary in US dollars. Every month I send home about Protected content dollars which mostly goes towards paying off student loans. I feel very fortunate, in that I have a friend from the US living in London, who similarly needs to send money home to the US. So we send each other money at whatever the exchange rate is on that day. By doing so, we are able to avoid paying horrible bank or broker fees and both get a better exchange rate! Saving us both a ton money every month.
I was curious to know how many of you "send money home" for whatever reason. Perhaps to give to family members, or if you are in a similar situation to me.and whether you feel that you get a fair deal in doing so? I'd be really interested to find out if anyone does something similar to me.
The main reason I'm asking is because I believe the ex-pat community could really help each other out in this regard, I'd love to start a discussion around this idea, so please share your opinion.