the pound is falling what can we do about it!!!
Nearly ah the first words that international students in the UK exchange when they meet is.
"Have you changed?" "Hoarded?" "Pounds I can bottom out?"
You should know that whether it is to pay tuition fees or to prepare for living expenses, choose a good time to exchange currency can save a large amount of money, now the pound exchange rate continues to plummet, the opportunity is not lost, not to lose, you should seize it.
Currently the pound has fallen out of a perfect curve, give it a chance, I believe it has room to fall.
Look at the pound exchange rate monthly chart can be found, from September 2021, the pound to RMB exchange rate fell from 9.0, and has been in the downward channel, as of press time, the pound to RMB exchange rate has fallen below 8.1, the pound to dollar exchange rate fell below 1.14, the pound exchange rate is basically at the lowest level in history, and is expected to probably continue to bottom out.
Pound to RMB once fell to the bottom of 8.06
What is the impact of the plunge of the British pound on Chinese students? What can Chinese students in the UK do?
The fall of the British pound is naturally welcome, and from the perspective of the various factors that caused the fall of the pound, it is difficult for the pound to stand up again in the short term.
When it's time to take the plunge
According to the analysis of the depreciation of the pound above, it is a good time for UK students to exchange currency.
From the pound to RMB exchange rate since Brexit more than 6 years ago, as long as the pound to RMB exchange rate is below 8.4, it is a good time to exchange.
Some students may be worried about the exchange now will not be a little early, after all, from the current K-line chart, the pound and continue to fall may.
I am here to give you the advice is: first change part of, used to pay tuition and living expenses. Ninety percent discount to study abroad ah this does not smell good!
1► Tuition fees
The tuition fee part, students can refer to the offer they got, the offer will have a clear amount of tuition fees.
Generally speaking, the tuition fees for international students at UK universities range from £15,000 to £35,000 per year. Compared with last year when the pound was at a high level (1:9), you can save $8,000 to $18,000 a year. The exchange itself does not require a fee, you can exchange money in batches on the Internet banking, in advance of the need for tuition fees and living expenses are converted into pounds in cash in their bank accounts.
In addition, you have to buy into the pound cash, not the pound notes Oh! A lot of people don't quite understand the difference between cash and banknotes, so here's an explanation. Pound cash is the pound you can remit to your school through the bank, cash is the pound you can withdraw cash in the bank, but can not be used for bank transfers.
2►Living expenses
In terms of living expenses, rent is the major part of living expenses. The cost of accommodation in the UK varies depending on the area and type of room, and the cost of accommodation for Chinese students in non-London areas is generally £800~£1200 per month.
At the current exchange rate, compared with the high level of the pound (1:9) last year, the monthly accommodation cost can be 400~600 RMB cheaper. If you stay for 12 months a year, you can save 4,800~7,200RMB per year. The London area is even higher.
You can exchange money according to your needs, but the foreign exchange limit is not more than $50,000 per person per year, if the amount is not enough, you can use your parents' names to wire transfer money.
On the other hand, the Russia-Ukraine conflict mentioned above will have a ripple effect, causing energy prices (such as natural gas) and food prices to rise, which means that the cost of living for international students will also rise.
However, the impact of the increase in gas and food prices cannot be generalized for each international student. If you cook three meals a day and eat out less, your monthly expenses will increase but still remain below £1,000 per month.
3►Savings
The last thing to say about the remaining savings, in addition to taking into account tuition fees and living expenses, if students have remaining savings, you can then look at the exchange rate movements, and decide the timing of the purchase. If it continues to fall, you can exchange more pounds.
On the whole, it is a good time for international students to exchange foreign currency. It is recommended that international students should purchase foreign currency according to their actual needs, and not to over-purchase foreign currency, because the Bank of England generally follows the Fed's strategy in interest rate policy, and the UK economy is closely related to Europe, so over-exchange will cause personal financial risks!
In short, now is a good time to exchange foreign currency, the extra money do not want for nothing! Of course, let us make a wish together, believe that the exchange rate can be low again, we witnessed the history of the new low together!
Of course, I also have a friend around the extreme financial acumen, he came from a financial investment family, see such a low exchange rate immediately chose to invest in buying a house, after all, in the UK 10% discount to buy a house opportunity is not much! Think about a £1 million house originally priced at 9 million yuan, the current price of 8 million yuan, not 10% discount to buy a house? Even more than 10% discount!
When the UK, basically all between 9.5-10, from 2016 after Brexit to see an average exchange rate of between 8.8-9, which also led to a wave of study in the UK last year, according to third-party study abroad agency data, the number of people studying in the UK in 2021 rose 157%, more than in previous years.
In the years when the epidemic was so severe, through the challenges of Brexit and the epidemic, London's strength remained undiminished, and in the latest annual ranking of the world's best cities for investment in 2022 by fund company Schroders (Schroders), London topped the list again with a score of 8.53‼️
The top 10 cities ranked are
London (8.85 points)
Boston (8.67 points)
San Francisco (8.54 points)
New York (8.47 points)
Melbourne (8.41 points)
Toronto (8.36 points)
Paris (8.32 points)
Singapore (8.31 points)
Hong Kong, China (8.28 points)
Chicago (8.24 points)
The index scores cities based on four indicators: economy, environment, innovation and available transport facilities.
As you can see, investing in London property now is a smart move.
The above information is for reference only
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Thamesestone Homes is the investment arm of a large UK student accommodation
Thamesestone is the investment arm of a large UK student accommodation and property management company.
The team consists of investment experts who have been working in the overseas real estate market for many years
dedicated to providing Chinese high net worth clients with secure, stable
We are committed to providing Chinese HNW clients with secure, stable and comprehensive overseas asset allocation services.
We specialize in UK school property investments and only recommend properties in areas that are easy to rent or sell.
After the transaction is completed, the property can be handed over to our professional team for charter management
We can provide you with a stable return on your investment.
Our team in China and the UK will provide you with diversified one-stop services
From purchase, escrow to sale, you will have no worries.
