Paying mortgages and other bills while living abroad
Paying mortgages and other bills while living abroad
Many people choose to move to the United States, whether it be for personal reasons or to find work. Some hope to find a job that would allow them to send a remittance to family members, but others may have their own bills to pay. Though paying bills such as mortgages, loans and credit card payments may be a hassle when living abroad, proper planning and money management can make the process easier.
Homeowners paying mortgages on a house that is in a different country may feel overwhelmed by the amount of money they own. However, it's important for those with international home payments to keep abreast of their interest rates and minimum payment amounts. Bankrate.com offers a mortgage calculator that can help homeowners keep on top of their finances.
The website TransitionsAbroad.com offers guidance to those who are considering moving outside their native country. In addition to information about making payments abroad, the webpage provides outlines on working and studying in a foreign nation.
Citizens of the UK who have moved to another country may want to read over the website Mortages.Co.Uk. This website is an excellent resource, and provides background information on various type of international mortgages.
Those who hold credit card debt and are living internationally should keep in mind that they may be required to pay various foreign transaction fees. CreditChoices.co.uk outlines some of the fees placed on payments made by citizens of the U.K.
Some consumers may want to consider transferring their balance to a low-interest credit card that is issued by a bank in the nation where they currently reside. This could help avoid the extra fees, and could also lower interest rates.
Many people choose to wire money to family members living in their home country who may be able to make the payment on behalf of the payee. This process may be easier for those who have several different types of bills to pay. Others may choose to keep a bank account open in their home country, and use that account to make automatic payments.