As a rule of thumb, always
password protect your computer and all mobile devices (i.e. iphone, ipad).
Change your passwords every 30-60 days. Make sure you always use a Wi-Fi connection
with a password and for an added layer of protection, always use a VPN (virtual private network).
Use the same safety
precautions you would at home. Never walk away from an ATM machine without
making sure that you have completed your transaction. Although ATMs will time
out, you could still give a thief ample time to see enough of your financial
information to make you an easy target for a robbery.

Ensure you have full access to your bank accounts at home (i.e. toll free and collect telephone number, online and mobile banking).
Have a method for receiving and processing payments (i.e. remote check deposit and PayPal).
Be mindful of important due dates and holidays in your home country that could affect financial transactions (i.e. U.S. Bank holidays) in the U.S. not observed in your in your host country).
Keep in mind time zone differences for account updates and daily ATM and POS limits (i.e. calendar days vs. business days).
To minimize mail delivery as much as possible, set up automated online bill pay and receive financial statements online.

You’d be surprised what you can learn from a one-hour consultation. Research and make phone calls pre-departure and during any visits to your new host country. Find licensed professionals who have experience helping people in your unique situation. A couple of hundred dollars for consultations to ensure that you have a rudimentary knowledge of your new host country is a small investment to make.
Invest in a consultation with a licensed, qualified tax professional. If you are a U.S. citizen and subject to taxation on worldwide income this should be a non-negotiable. As a U.S. citizen, you are never outside the reach of the IRS. Even though in the back of your U.S. passport it states your obligation to file and report on worldwide income, most U.S. citizens don’t fully understand their U.S. tax-filing obligation and think that because they are moving overseas and earning income outside the U.S., their U.S. tax financial obligation ends.
Also, make sure you are knowledgeable about your tax filing requirements and potential tax liability in your new host country.
Seek advice from an immigration attorney to fully help you understand the basics of local immigration law, including visas, work permits and your rights as a foreigner.
Engaging a local insurance broker will give you an overview of insurance options available in your new host country. A priority should be medical insurance. Before you leave your home country, check your international medical coverage. Don’t wait until you have a medical emergency abroad to discover that you don’t have comprehensive global coverage.

Is your partner willing to support you financially until you get settled? To what extent? Will you have an allowance, or will he/she pay for all your expenses (a la Carrie and the wealthy Russian who paid for her apartment while he whisked her off to live with him in Paris in Sex and the City).
Are you comfortable being financially dependent? Also are you prepared to put all your financial cards on the table? Provide full disclosure about your financial debts, habits and expenses? Is your partner comfortable providing the same?
Is your partner willing to put your name on bank accounts or open a joint account? Also, if the relationship does not work out and you must return home, how easily will it be for your to financially return to your former life?

Create a solid financial plan with a budget that includes ongoing financial obligations and unexpected expenses. Also don’t forget to set aside funds for social activities to meet people and attend networking events if you are job searching.
Your financial plan should also clearly outline your cash flow. Not having a solid source of income can quickly and substantially derail plans for living a global lifestyle. Also, don’t underestimate the time it might take for you to start generating income or to see your first paycheck (many countries pay salary monthly, not twice a month as is more the norm in the U.S.).
Even if you are on a company sponsored international assignment with your spouse or partner, thoroughly review the compensation package, including salary, benefits and other allowances before you both commit. As corporate expatriate packages become smaller and smaller, ask yourselves if this international move makes sense both financially and from a career standpoint as well.

If possible, rent out your house or sublet your apartment when you first move overseas. This may not only give you a source of income, but will also keep you at ease about having a home to return to if things don’t turn out the way you planned.
Investigate if you can take a leave of absence from your present job until you have found a new job and settled into your host country (most foreign countries have employment contracts with a 3-6 month probationary period before you become a permanent employee. If you take a job overseas and your relationship does not work out, you could still have a job to return to).
If you work for a global company, ask about temporarily working in the foreign office and eventually seek a permanent transfer overseas.
Perhaps this is a good time to start an entrepreneurial venture that you can manage online like writing, teaching or launching a website.
It’s February– that time of year when romance is in the air as millions of people around the world are celebrating that popular, quasi holiday – Valentine’s Day.

Living in Shanghai, I am surrounded by fellow expats from all over the world, and have met several “significant others” who have followed their partners to China.
Unfortunately, in my decade plus years as an international banker, I have also seen financial issues kill many global romances. Lack of planning, unrealistic expectations, and failing to ask the appropriate questions can damage a global relationship.
When you move abroad for love, you won’t escape your financial obligations at home, and will no doubt experience new financial challenges in your host country. So when you move abroad for love and your finances suddenly go from Mine, Yours, to Ours - make sure you consider the following:
Conduct due diligence on your future host country
Is this country on your list of places to live in the world? Is it someplace you would live on your own if you were not in a relationship? How often have you visited the country? Have you spent any time alone, without your partner in your future host country? Given the global recession, what’s the economic situation in the country? Is it country where you will be able to easily find employment in your profession? Is it a viable country to start a new business venture? Also, develop a baseline understanding of the financial/banking system of your new host country, including international transaction fees, foreign exchange limits and possible currency restrictions.
I hope everyone enjoyed all my tweets during my April hiatus as I pushed my research for the book into high gear.
On my last blog post I noted that Pre-Paid cards were the product du jour in financial services. Each day, I receive several emails, alerts and links offering Pre-Paid cards as either the latest financial panacea or the next cash cow for the financial services industry.
As a seasoned bank professional who has launched a new product/service or two during my career, I have two words for Pre-Paid cards. Fees and Caution.
Conduct research and do your homework. Have a clear sense of your needs for a Pre-Paid card and what the benefits and features are and if they are right for you.
Most Pre-Paid Cards offer the following Features and Benefits:
Some fees and areas of caution for Pre-Paid cards:
In the final blog post of this series, I will discuss Pre-Paid cards that are good for travel and living a global lifestyle.
Pre-Paid Cards - Three Part Blog Series
The newest financial product to have in your wallet is a Pre-Paid card. Certainly not a new product, it used to be the go to financial solution for people with sub-prime credit (the financial industry’s term for people with poor credit), then the gift card industry and tween market gave it a huge boost, followed by the credit crisis in 2008.
Currently pre-paid cards have much less regulation then traditional credit and debit cards, so they are the new darlings of the financial world.
For frequent travelers, expatriates and those living a global lifestyle, a pre-paid card is becoming a necessary travel accessory. Pre-Paid cards come with various features that range from direct deposit to online bill pay. Although heavily marketed as such, Pre-Paid cards are not credit cards.
The next blog post will highlight features and benefits of Pre-Paid Cards.
On Thursday an earthquake so powerful it was felt in Thailand struck Myanmar. A few hours ago, another earthquake hit the northeast coast of Japan. In Libya the battle intensifies daily.
These events are more reminders that living a global lifestyle is not always glamorous or without danger. The events also remind us that preparation is key. Preparing yourself financially for danger and disaster while traveling and living overseas is a non-negotiable and should be the foundation of any plan to travel outside your home country.
Having a multi-currency account and insurance with a crisis response company are some financial ways you can prepare for danger and disaster.
Read my latest article for more financial tips:
http://www.associatedcontent.com/article/7878324/5_financial_tips_to_help_travelers.html.
For more financial tips, also read the expanded version: http://www.expatexchange.com/lib.cfm?articleID=3833
Learn How to Make Smart Money Choices While Living A Global Lifestyle From An International Banker - The Ultimate Insider!