# how to manage financially in spain



## happyali (Jul 20, 2008)

I have made up my mind to go to Spain, my sister lives in Torrevieja a place that I must say I do not like the sound of, I do not like a lot of concrete. Anyway I may start there, I like inland more than the Costas like Jalon Valley or maybe a spanish town, I like the sound of outside of Valenica city, but I would rather go near to my sister to start with and maybe travel around, i.e. Granada, Seville and also up to Valencia but now with the state of the pound against the euro things have got hard for some people on limited funds. I will be one of those people also as it has taken me four years of trying to get some justice out of the pensions people they have now given me pension credits, now that all my savings have gone, but of course I will not get those credits when I move abroad. I will only get the stupid amount they were giving me which was £53 per week, this is because although I worked all my life I had a husband for whom I worked but he never put a stamp on my card, and when the business was really successful he decided to become a womaniser having affairs all over the world. Anyway, thats all past but as I have a lousy pension I think that when I sell my house (??) IF if sell my house in todays climate I thought it may be a good idea to put most of it into a income bond (used to be called Pensioners bond but isnt any longer) with the NS&I which would give me around £800 a month, which with the amazing pension money I thought I could maybe live on that amount in Spain. I do not really think I will buy but perhaps will just rent. I am now 71 and feel that buying property has the downside that one cannot move around freely. I would love to have a camper van and just visit everywhere but thats just the Irish in me! Anyway is there a financial wiz out there who can tell me if this idea is daft, or whether it would be a good move. I think that the NS&I are safe(?) Alan Sugar says they are, but does he know it all? I await with baited breath for some clever person to advise me on this one. love alice.


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## Pasanada (Feb 5, 2008)

Hi Alice and welcome to the forum! 

Firstly, I would like to say I know Torrevieja well (I've lived in the area since 2003) and can concur with you that it's not a nice place to live (I prefer mountains and countryside)

I don't know much about the financial plans you have been looking at but would recommend to seek advice from a reputable financial advisor.

If you do decide to rent in the Torrevieja area for a while, may I take this opportunity to make a few suggestions?

1. Avoid British establishments unless you can afford them!! I know of many who offer a sub standard service and terrible food but feel justified in charging British prices! In the current economic climate, owners are desperate to keep businesses afloat but they fail to realise that customers vote with their purses/wallets if standards are poor. I tend to find Spanish restaurants offer better value/healthier options - try a menu del dia (menu of the day), prices normally start at the 7.50 euro mark for a 3 course meal plus a drink.

2. Crime - again, there is a lot of unemployment in this area; afterall, it is primarily a holiday area and not a place large businesses invest time and money to create jobs. Don't be distracted by scams, don't leave your handbag in easy reach of thieves (better still, don't carry a bag!), don't leave valuables on display at home and lock doors/windows if out of the room/house. Thieves have been known to use fishing reels to steal items from unsuspecting victims through their windows!

3. There is an association called HELP based in Torrevieja town centre; they're an invaluable source of information to expats living in this area. If you require further details (or you're interested in a little voluntary work), please let me know. There is also a club called "Newcomers Club" aimed at, as you can tell from the name, newcomers to the area. For 1 euro, you can have lessons in basic Spanish. We do have a local "celebrity" who is a British lady who teaches Spanish to expats and visa versa; she is a well respected lady by both the expat and Spanish communities. She has a language school in the San Pedro del Pinatar area, again, I can pass on her details if you require them, alternatively, Google Jane Cronin and you will find a wealth of information about her.

4. There are plenty of beautiful towns and villages in the Costa Blanca, let me know if you require further information.

5. Enjoy your new life and try learning a little Spanish, it can open many doors for you!


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## carefreebrit (Aug 10, 2008)

Depending on your finances it may be a good idea to visit your sister first to see what you think of Spain and her region generally. Although Torrevieja has a bit of a bad name there are many nice towns and villages inland which would be within visiting distance of your sister if that suited both of you !! There are good hospital and medical facilities in the area also which we all need at some time, so perhaps good to plan ahead now ?
Perhaps have a look on a site like mapquest to get an idea of some towns, check them out through wikipedia and their links to other sites, then when you went to Spain you would have some ideas perhaps on what sort of place you might like to begin. If you have an idea of a town, and a lifestyle, then the cost of that will tell you what you can afford, and if any compromises have to be made. Good luck whatever you decide.


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## Stravinsky (Aug 12, 2007)

As an aside, NS&I is safe .... its backed by the Government ... err ... well, its pretty safe anyway!

£800 a month only gives you less than €1000 at the moment. If your needs are simple it should be enough depending on what kind of place you want to rent. Being on your own you should be able to get somewhere cheaply.


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## Davidakky (Oct 14, 2008)

It may be a good idea to rent your UK property to suplement your income.
This will also mean that you will receive a 'true' selling value in the future should you decide to move to Spain.
There are various guaranteed bonds that offer a good return on lump sums and pay monthly or quarterly.
A good idea is to speak to an IFA and ask their advice.
Stay with your sister for a month or so and have a good look around and get a true feel for the area and where you would want to live.
Dont forget to obtain the advice of an independent lawyer...not one referred by an estate agent.
Good luck and all the best in Spain.


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## happyali (Jul 20, 2008)

*Hi Pasanada*

Thanks very much for replying. I will take all that you say on board. I wish I had gone out there years ago when I first wanted to but life is full of if onlys and so I will go, but first I have decided to see what happens on the sale of the house and if nothing positive happens in a month I will go up to London and live with my daughter for awhile, and then let out my house giving me the finance to travel to Spain and travel around. At the end of my travelling I hope the property market will have improved and then I will sell up and know by then if it is Spain, France or Britain that I want to end up in. Once again I do appreciate your advice and if I get to Torrevieja would love to meet up and buy you a sangria!! or whatever. regards, alice.


Pasanada said:


> Hi Alice and welcome to the forum!
> 
> Firstly, I would like to say I know Torrevieja well (I've lived in the area since 2003) and can concur with you that it's not a nice place to live (I prefer mountains and countryside)
> 
> ...


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## happyali (Jul 20, 2008)

carefreebrit said:


> Depending on your finances it may be a good idea to visit your sister first to see what you think of Spain and her region generally. Although Torrevieja has a bit of a bad name there are many nice towns and villages inland which would be within visiting distance of your sister if that suited both of you !! There are good hospital and medical facilities in the area also which we all need at some time, so perhaps good to plan ahead now ?
> Perhaps have a look on a site like mapquest to get an idea of some towns, check them out through wikipedia and their links to other sites, then when you went to Spain you would have some ideas perhaps on what sort of place you might like to begin. If you have an idea of a town, and a lifestyle, then the cost of that will tell you what you can afford, and if any compromises have to be made. Good luck whatever you decide.


Thanks very much for your advice. I have decided that I will visit my sister after Christmas and see for myself what it is like there. I realise that having all the good facilities is a bonus. I will look up the mapquest site not heard of that one before. I have friends in the Jalon valley and that sound lovely. I have only visited the costa brava in the past, and loved it there, but costs are very high in that part of Spain. If I were braver I would get a camper van and just travel the whole country, but not sure about that idea, could be great could be a disaster. For now thanks alot for the advice - if I do like inland Costa Blanca then I may be able to get my sister to let her place and come and live wherever I go to - as she hates her life in Torrevieja so much it may be the answer for her. regards, alice


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## happyali (Jul 20, 2008)

Davidakky said:


> It may be a good idea to rent your UK property to suplement your income.
> This will also mean that you will receive a 'true' selling value in the future should you decide to move to Spain.
> There are various guaranteed bonds that offer a good return on lump sums and pay monthly or quarterly.
> A good idea is to speak to an IFA and ask their advice.
> ...


Thanks very much for replying David. Yes I have actually come to the conclusion that renting is a better idea - as long as the tenants pay the rent and dont wreck the place - at least the building will still be here and hopefully the present problems in housing may pass. My estate agent told me that his office has only sold one house in a month. In Penzance we have lost two estate agents already, mind you there were too many anyway. best wishes, alice


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## happyali (Jul 20, 2008)

Stravinsky said:


> As an aside, NS&I is safe .... its backed by the Government ... err ... well, its pretty safe anyway!
> 
> £800 a month only gives you less than €1000 at the moment. If your needs are simple it should be enough depending on what kind of place you want to rent. Being on your own you should be able to get somewhere cheaply.


Thanks Stravinsky for info. Yes NS&I do seem safe, although now the Government owns nearly all the banks. Northern Rock is now one of the safest banks of all. Events are changing so quickly at present. As you can see from my other replies I think letting the house is the best idea for the time being. I think this Expat Forum is great, and only wish that my sister would use such good source of information she seems to have made no friends or got involved with any club etc., in the 5 years she has been there. If I suggest that she should she gets angry as she seems to think that all the Brits in Torrevieja are "horrible people who only want to pay bingo and have their done"!!!! She is in for a shock when I get out there I shall be dragging her yelling and screaming - out out out. best wishes, alice


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## Pasanada (Feb 5, 2008)

Alice,

Would love to meet up but I'll have a cafe con leche, I rarely drink and can't stand Sangria! 

Good luck and keep us posted. xx


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