DOW is surging up, DOW is crashing down, dollar is on the rise, dollar is bottoming out… It’s hard to read a headline these days with out feeling like you are on a teeter-totter (sube y baja in Spanish) cheering on the up swing, and crying for mommy on the down swing. Many expats are watching years of hard work, savings, and planning being called into question. What once seemed a sure life plan seems to warrant a “plan b.”

Here are three things to do as an expat living abroad in Mexico to make sure you are not caught by surprise. This article focuses on Mexico, but the principles apply anywhere.

Be Informed

Knowledge is power! This is even more true for expats living abroad. Educate yourselves, so you can make wise decisions. Besides reading Associated Press sites that focus on other parts of the world, try keeping up to date with sites that explain what’s happening in the Mexican economy. This can be a challenge if you don’t read Spanish. Here are some helpful sites in English:

•Mexicotodayblog.com is a very well updated site with plenty of economic and political information daily and it is in English. Here we learn about prices of oil, proposals being passed, and what is going on in general with the government.

•Signonsandiego.com/news/mexico/ a site that focuses largely on the happenings of Tijuana but also gives a weekly recap of what’s happened all over Mexico.

•www.thenews.com.mx Mexico explained. A great news resource for up to date information on Mexico. Sometimes a bit graphic, so beware. Check this article for more expat in Mexico information: Expats feel fear as credit crunch bites.

Play The Exchange Rates

Keeping track of the exchange rate is a great money saving technique. Do you know you will be making a big purchase in the future? Do it when the exchange is high. Right now the USD to Peso exchange rate is at 13.12. I’d say that’s a good time to make a purchase. The Canadian exchange is at 11.08, which is the highest monthly average it’s been at since February.
Some good sites for this are:

•Xe.com- Up to date world exchange rates.

•exchange-rates.org- Allows you to view historical graphs from 30 days to monthly averages of exchange rates. After all, who doesn't love graphs!

Simplify, simplify, simplify

It should go without saying, but try to simplify your life as much as possible. Cut costs wherever you can. Economists say we haven't seen the worst by far with this recession. So it is good to prepare now for what is to come. Pension checks and Social Security may quickley become a fading memory. Save now so you can spend later.

Trade in Walmart for a local market to buy veggies and fruits. They are unbelievably cheaper. Eat more beans and rice (hint: throw in some chopped iceberg lettuce for a nice crunch). Shop around for cheaper housing. It’s out there. Cook at home instead of eating out. It can be fun, healthy, and cheaper! Life can still be enjoyable with less comforts and more appreciation for the beauty which surrounds us in <a href="http://www.manzanilloblog.com">Manzanillo</a>.

Related posts:

1. US Bailout Plan Rejected, Mexico Economy Hit, What’s An Expat To Do?
2. 9 Tips To Finding A Job In Manzanillo
3. Tips to Learning Spanish- Interview with Bob Mrotek
4. Semana Santa- What To Expect And Tips
5. Mexico’s Peso Troubles And You