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Roman Holiday
Joined: 22 Sep 2014
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 Posted: Mon Sep 29, 2014 3:04 pm Post subject: |
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Ha! I'd just checked XE.com a little earlier. My home currency is the Kiwi/ NZ dollar... and it is finally weakening. Here's the 10 year exchange rate of Won/ Kiwi. Looks like the tide is turning, and a good time for Kiwis to earn Won. Bring on the other half of a Cheshire cat's grin. 
http://www.xe.com/currencycharts/?from=KRW&to=NZD&view=10Y |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Mon Sep 29, 2014 3:36 pm Post subject: |
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| Lucas wrote: |
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| Don't fret about exchange rates |
Since I've lived in Korea, 1 million won has ranged between 420ish pounds - to just over 600 pounds.
By 'fretting' about the exchange rate I have (saved/earn't) a !@#% load more pounds by watching the exchange rate and sending money back during good exchange rates.
The 600+ rates never last for long, so you've gotta act quickly.
http://www.xe.com/currencycharts/?from=KRW&to=GBP&view=10Y |
That strategy only works when you don't have monthly obligations to meet. Student loans and other creditors don't care about the exchange rate with a promise to pay them later. They expect their hunk of flesh each month regardless and if you have to send more won to meet those dollar obligations, then that's what you got to do.
If you don't have to send money home, then you'd have to have had to pile up the cash for a very very long time - 2008 to 2014. Don't know if many teachers would be here for years like us.
On the plus side, it is going up again and I have built up a pretty good credit score at home making a transition that much easier. |
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Lucas
Joined: 11 Sep 2012
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| Posted: Mon Sep 29, 2014 3:45 pm Post subject: |
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If you don't have to send money home, then you'd have to have had to pile up the cash for a very very long time - 2008 to 2014. Don't know if many teachers would be here for years like us.
On the plus side, it is going up again and I have built up a pretty good credit score at home making a transition that much easier. |
I know what you mean. Nice thing about UK student loans, low re-payments.
When I go back i'm just going to pay it all off in one lump sum, I make more in savings that by paying it off! |
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DaeguKid
Joined: 09 Dec 2006
Location: Daegu
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| Posted: Mon Sep 29, 2014 5:39 pm Post subject: |
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| You are right. Watching exchange rates is a good idea. Interest sucks, especially on student loans. My goal was to pay it off asap. I got satisfaction in watching it drop every month and the fookers not getting as much off me in interest. |
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