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Topic: The British pound  (Read 13698 times)

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The British pound
« on: September 03, 2008, 12:12:36 PM »
is tumbling!

Your life savings/massive loan can buy more in the UK.  :P

I'm really glad- I previously imagined scavenging for food!
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Re: The British pound
« Reply #1 on: September 03, 2008, 01:01:29 PM »
It's definitely good news for me! We'll be buying a house soon, mostly with money that's in the US. Plus, my wedding is going to paid for largely by money from the US! So ... YAY!
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Re: The British pound
« Reply #2 on: September 03, 2008, 01:06:37 PM »
Better news for us, too, provided it stays that way into the new year. We're moving to the US this winter but will still have bills to pay off in the UK.
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Re: The British pound
« Reply #3 on: September 03, 2008, 01:20:58 PM »
Bad for me as I'm going to have lots of pounds I don't want!  I want dollars!  Better start transferring some money now, I think.
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Re: The British pound
« Reply #4 on: September 03, 2008, 02:35:17 PM »
NOT good news for us as we're still sending money home to support my folks and barely making enough to scrape by ourselves as it is. :(
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Re: The British pound
« Reply #5 on: September 03, 2008, 03:11:00 PM »
For me, it's not so much the British pound falling that's good news as it is that the US dollar is strengthening. I actually prefer the GBP remain stable.

But regardless of what the £ is doing, a stronger USD means our Visa costs and money we'll need to exchange for moving, shipping, airfare and initial living expenses is now estimated to cost about 23% less than just 2 months ago.

Since we plan to leave the bulk of our savings in the US until the exchange rate is optimum for transfer to purchase a UK home, it's just the initial outlay that's important to me. And the US dollar strengthening is good.
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Re: The British pound
« Reply #6 on: September 03, 2008, 03:23:34 PM »
not good news for me either- I need the dollar to stay down while I try to pay off my student loans!
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Re: The British pound
« Reply #7 on: September 03, 2008, 03:28:30 PM »
Quote from: springhaze on September 03, 2008, 03:23:34 PM
not good news for me either- I need the dollar to stay down while I try to pay off my student loans!

Same here, need to renew my contract with moneycorp in March to continue to pay my student loans.. hopefully it will improve by then!
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Re: The British pound
« Reply #8 on: September 03, 2008, 03:41:24 PM »
Not good for me at the moment either :(. This morning I ordered a foreign draft for $400 to send to the US... a few weeks ago, it would have cost me about £200, but unfortunately, I've now just had to paid almost £225 for the same amount of dollars :( !!

Another annoying thing (totally my fault though) is that when I was home for a visit in July, I bought $900 in traveller's cheques to take back and pay into my US account (UK cost was £495). Unfortunately though, I went and left them in my house in Bristol and didn't realise until I got to the airport, so my dad had to lend me the money in cash. When I went to change back the cheques last week, they were only worth £428, so because the exchange rate went down between when I changed the money in July and when I changed it back again in August, I lost almost £70  >:(!!
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Re: The British pound
« Reply #9 on: September 03, 2008, 05:40:04 PM »
Bad for me too -- I still have bills I pay in the US, and the almost 2-1 exchange rate was making that a bargain to do.
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Re: The British pound
« Reply #10 on: September 03, 2008, 07:34:49 PM »
Quote from: Chrissy on September 03, 2008, 03:28:30 PM
Same here, need to renew my contract with moneycorp in March to continue to pay my student loans.. hopefully it will improve by then!

Thanks again for the tip.  We went ahead and locked in a two-year transfer before the pound started falling, so yay! 
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Re: The British pound
« Reply #11 on: September 03, 2008, 07:41:42 PM »
Quote from: springhaze on September 03, 2008, 03:23:34 PM
not good news for me either- I need the dollar to stay down while I try to pay off my student loans!

Quote from: Midnights_mom on September 03, 2008, 05:40:04 PM
Bad for me too -- I still have bills I pay in the US, and the almost 2-1 exchange rate was making that a bargain to do.

Sigh, me too!!!
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Re: The British pound
« Reply #12 on: September 04, 2008, 01:12:28 AM »
I checked a little while ago and it was at $1.77 to the pound.
It is going the right way for me.
We need to recalculate the price of items to buy in the UK now. :D
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Re: The British pound
« Reply #13 on: September 04, 2008, 02:46:04 AM »
Yeah.... I have to say.... Go dollar go!!  The sky is the limit...  ;D  We are leaving most of our money in our US Savings Account (we leave at the last of this month) until it is best for us to move it over.  Hopefully it keeps going the way it is!
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Re: The British pound
« Reply #14 on: September 04, 2008, 03:28:12 AM »
I really don't get why people are coming on here to gloat about their advantage when others are clearly going to suffer?    ::)

It seems mean-spirited to me.  At the very least, it demonstrates an utter lack of empathy.   

It is what it is.  I wish it didn't cost a million dollars to move abroad, but it is what it is.
Does one really have to be exclusive of the other?  Do people really have to be screwed in order for you to not be?

Remember, there maybe a day when you would be the beneficary of a strong pound vs dollar....

Edited for sake of clarity
« Last Edit: September 04, 2008, 03:38:22 AM by hollyberry »
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