Whilst nobody really knows what the definitive outcome of Brexit will be, there will be some changes, whether the UK comes out of the deal stronger apart from the EU or not. Some of these changes could, unfortunately, affect pensions, with MPs in the UK asking for assurance of pension payments after Brexit.
There are probably people doom-mongering on one side, and downplaying the effects on the other; what’s apparent, though, is that a bit of financial management and finding ways to keep yourself financially sound can be beneficial to maintaining your life in Spain.
If you’re concerned about having the cash needed to get you through any periods of uncertainty or simply shore up funds, so you have an amount of money available for all circumstances, you may benefit from using credit. Whilst not ideal, given the payments, there are several offers you can pursue on the market that will provide you with a lump sum and flexible repayment options. It’s accepted that this can be difficult for people whose credit scores have degraded over the years, and yours may well have if you bought property in Spain and have had little lending for a decade or longer. Given low interest rates in Europe, many lenders are relaxed at the moment, as shown by this Norwegian example.
If you’re living in a property that is perhaps slightly too big – or maybe you never properly warmed to it – you could be sitting on an asset. In fact, you might even be able to upgrade if you’re able to sell. Spain’s property prices remain low, and if you were hoping to free up a significant chunk of cash, the opportunity is there if you have the persistence and ability to sell your property.
Do you have a hobby? Or a talent, even, that is neglected or just seen as a pastime? People across the world are increasingly being drawn towards websites like Etsy and ArtFire where people are able to sell pretty much anything they like in a business environment. If you have time on your hands and a bit of spare cash, you could turn a hobby into a casual business and provide hand-crafted delights.
Brexit is a little bit scary, as are the constant undulations of Europe and its inextricably linked markets and economic conditions. It doesn’t have to be an issue, though, and as demonstrated there are plenty of options out there to earn a bit of extra cash and keep yourself feeling positive throughout any uncertainty.