Money Matters in Merida! Re-branding and USA Financial Woes!
Welcome back to my blog. I know it's been awhile since you've seen me. So much has been going on. I’ve been rebranding and am overwhelmed with joy with the response to consultations and my course! You are doing amazing work!
Let's get right to it!
So much is happening in the states. I have made a couple of videos if you haven't checked them out, please go and see valuable information and resources about Transitioning to Merida. And check out my video More than Merida, where I give you global options for moving abroad because believe me there are many and one to fit your lifestyle.
This blog is about simple facts. The fact of where you are and where you're going.
We're going to look at the issues with the US dollar in depth and in layman's terms. And of course, I will offer some introspective commentary and my opinion of the of the currency situation in the United States.
After that we're going to look how your income and finances affects moving and living abroad. I know money matters when deciding to relocate.
I will offer resources and solutions to help you make a definitive decision on where, when, and how you move.
Due to the issue with the American dollar, it would be sensible and to your benefit to move to a place where it is less expensive to live the lifestyle you desire. Stretch that dolla, until it hollas!
There will be some sacrifices and there will also be rewards. Just knowing that there are options will give you a brighter mind set to put in place plans for the future.
In simple terms, the United States dollar is facing
some challenges. One of the main issues is inflation.
Inflation means that the prices of goods and services are going up over time,
which means your money can buy less than it used to. So, if you had $10 and
inflation is high, the same things that used to cost $10 might now cost $12 or
more.
There are a few factors contributing to this inflation. One is that the government has been pumping a lot of money into the economy to help stimulate growth and support people during difficult times, like the COVID-19 pandemic. When there is more money in circulation, it can lead to higher prices.
Another factor is the supply chain disruptions caused by the pandemic. Some goods and materials have become more expensive or harder to get, which can drive up prices. For example, if it becomes more expensive to produce and transport goods, the cost is passed on to consumers, making everything more expensive.
Additionally, the value of the U.S. dollar is influenced by various factors in the global economy. Changes in interest rates, trade policies, geopolitical events, and investor sentiment can all impact the value of the dollar compared to other currencies.
When the value of the dollar goes down, it means that it's worth less compared to other currencies. This can affect various aspects of the economy, such as international trade and the cost of imports.
To address these issues, the U.S. government, and the Federal Reserve (the central bank of the United States) may take steps to manage inflation and stabilize the economy. They can adjust interest rates, which can influence borrowing and spending, and they can implement monetary policies to regulate the money supply.
It's important to note that the situation with the U.S. dollar is complex and can be influenced by many factors, so this is a simplified explanation. It's always a good idea to stay informed by following reliable news sources for the latest updates on the economy.
In my opinion, the United States misappropriates government
funds.
I
think we're all aware of how the budget looks for military, and weapons defense
but how much money is limited to funding schools/ education, business
ownership, or the public’s plights in general for that matter.
In my opinion,
the authorities of US power (struggles) use fear tactics to entice people to
spend more money ... simple things like increasing gas prices and food prices
which, among other things, directly affect the economy. “They” are aware of
this game, and they've been playing this game for years. I believe the powers
that be know if they receive a reaction, response or reply from the public
(outcry), that game is still in play.
It's amazing how many decades they've been playing the same monopolized game, the 1% versus the 99.
1. Research the local banking system: Understand the banking options available in your new country. Research reputable local banks, their fees, and services they offer to expatriates.
2. Open a local bank account: Consider opening a local bank account to simplify your financial transactions. This will allow you to receive your salary, pay bills, and make local purchases more conveniently.
3. Understand currency exchange rates: Keep an eye on currency exchange rates, as they can significantly impact the value of your money. Consider using online currency converters or financial apps to stay updated.
4. Budget wisely: Create a budget tailored to your new cost of living. Take into account expenses like accommodation, utilities, transportation, healthcare, and leisure activities. Adjust your spending habits accordingly to ensure financial stability.
5. Set up automatic payments: If possible, arrange for automatic payments for bills, rent, or other regular expenses. This ensures that you don't miss any payments and avoids late fees or penalties.
6. Monitor transaction fees: Be aware of any transaction fees imposed by banks or payment platforms when transferring money internationally or making purchases in a different currency. Consider using services like TransferWise or Revolut that offer competitive rates.
7. Manage taxes: Understand your tax obligations both in your home country and your new country of residence. Consult with a tax professional who specializes in international tax matters to ensure compliance and take advantage of any applicable tax benefits or deductions.
8. Keep an emergency fund: It's important to have an emergency fund in case of unexpected expenses or emergencies. Set aside some money in a separate savings account that is easily accessible.
9. Consider international health insurance: Evaluate your healthcare needs and consider obtaining international health insurance to cover any medical expenses while living abroad. Make sure you understand the coverage and exclusions of the policy.
10. Stay informed about financial regulations: Familiarize yourself with the local financial regulations and any restrictions on money transfers or foreign investments. This knowledge will help you make informed decisions regarding your finances.
11. Keep track of exchange rates and remittance options: If you need to send money back to your home country or receive money from abroad, compare different remittance services to find the most cost-effective and convenient option.
12. Plan for repatriation: If you eventually plan to return to your home country, consider the financial implications of repatriation. Think about how you will transfer your funds back, any tax implications, and how you will handle any assets or investments you acquired while living abroad.
Remember, it's always a good idea to consult with a financial advisor who specializes in international financial matters to get personalized advice based on your specific circumstances and goals.
I hope this information was insightful and useful and gives the advantage when deciding when and where to move.
There are options and solutions that fit your budget! We talk about options in my last video and we will go into it again in the next blog along with procreating an income to give you the freedom to travel and live where you want!
Freedom is closer than you think and your mental and emotional well being are of the utmost importance.
Congratulations on doing the WORK!
Next Blog: Living abroad while working for a company based in the United States
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