9 Expats Share Living Abroad Tips on Finance and Life

Today, I thought I would get the opinion of my friends and other expats living here in Colombia and other destinations abroad.  

Going through the ideas, there are some common themes on money and making a new life. Of course, your experience is going to be a little different as you apply your own skills. 

Living Abroad Finance Tips

Harvey Kaplan: I can say that I don’t personally know any foreigner making a decent living here that solely rely on local income except a few guys renting apartments.

My advice is to make money outside Colombia unless you are doing import/export of some kind.

 William Humphrey: Four words of wisdom right here – earn dollars, spend pesos There are two pieces of advice here. If you can earn money from clients in a developed economy like the United States. 

And have you’re expenses at the cost of living in another country – you can do very well living abroad. I earn more than twice my expenses by doing investment analysis and writing for U.S. financial advisors.

Chuck Howard: All my retirement income is in dollars. Staying on top of how to keep the income flowing into Colombia has been somewhat a challenge (i.e. getting a US bank to issue a chip debit card).

Victoria DeDicova: It's cheaper to live in areas where locals live not gringos. Find a good international money transfer provider. Use a regional bank for typical banking and international for back up.

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