Expat guide to Australia: financial management

In the first of a series of country guides designed specifically to address the problems faced by expatriates,Telegraph Expat takes a look at money management for those thinking of moving to, moving back from, or already living in, Australia

Australia is the number one destination for emigrating Brits , with 56,000 of us moving to the other side of the world in 2008, according to the latest official figures.

But if you are planning to go because of work, or simply in search of a better life for yourself or your family, there are a lot of things you need to think about to be sure your finances work as well as they can for you.

This guide will help you through the financial maze of what you need to do and how you need to do it to make your move a success.

BEFORE YOU GO

One of the most difficult things to do when you go to a new country is open a bank account, as you have no credit history in that country. If you open an account before you leave the UK, this circumvents the problem.

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know your resources - Expat Health Insurance

Guess who really pays for health care?

New York (CNN) -- If President Obama had been forthright last week at the health care summit, he would have opened the meeting by stating: "If you have health coverage, under our reform bills you are going to pay more and get less. If you are one of the 45 million elderly or disabled people on Medicare, you are going to get less. There is no such thing as free medical care. Somebody has to pay! And in the end it is you."

Those are the facts! And as Senate Majority Leader Harry Reid stated to the Republicans : "...you're entitled to your opinion, but not your own facts."

However, the facts, as the president has found out, are not exactly a compelling message to persuade a reluctant Congress and public to overhaul nearly one-fifth of the nation's economy.

Adding 31 million people (45 million now don't have coverage) to the health care system will cost the taxpayers trillions over time. Many of that uninsured group can't afford health insurance, and if this legislation passes, the government will create an entitlement program to subsidize them. In the end, like the entitlement programs that have gone before them, they will far exceed any cost estimates on the table today.

Continue Reading Guess who really pays for health care?