A number of UK expats might struggle to pay their bills and fulfil
credit card debt repayments due to a recent increase in their living costs, it has been suggested.
Shelter Offshore magazine's co-founder Rhiannon Davies believes that currency rates are not proving favourable to those who receive their income in sterling.
She commented: "If the pound's value falls further, those who attempt to live on an income paid in pounds abroad are negatively impacted to an ever-increasing degree."
The expert added: "It becomes harder to afford to live."
In particular, older expats who receive their pension payments in the form of sterling might be facing financial difficulties at the present time, Ms Davies suggests.
Earlier this month, Reuters figures revealed that sterling has substantially decreased in value when compared with the euro, since the start of 2007.
It was valued at 1.53 euros in January of that year, the news agency noted.
Posted by Gemma Walker.
