The way we think about money has changed in the last 12 months as leading economies of the world have faltered and we've witnessed banks going bankrupt and respected international leaders ordering the printing of money! Where up until recently we were all obsessed with what we could get in terms of 'consumer durables' and how much we could borrow to advance our spending power, everything has been turned on its head and being in debt is no longer cool!

Saving is the new spending and there are many easy ways you can develop a positive savings habit - such as paying yourself before you pay anyone else when your monthly salary payment hits the bank. I.e., moving a portion of your cash into a less accessible savings account each month as soon as you are paid so that you don't waste that money, but instead you save it for a rainy day.

If you're living abroad or you regularly travel overseas for business or leisure reasons, it could just make even more sense for you to have an offshore or international savings account - and in this report we're going to discuss the advantages of an offshore savings account in order to help you determine whether such an account structure could benefit your finances.

Whilst those resident onshore in their original home nation seldom achieve any taxation benefits by 'going offshore,' (i.e., from moving their money overseas), there are still potential reasons why an offshore account can even benefit such individuals. And for those who are living abroad, working overseas or who regularly spend time 'on the road' and away from home, there are even more potential benefits to keeping savings offshore.

At this point it is imperative to mention that before you take any action with your hard earned cash you need to seek specialist financial advice - and this is equally as appropriate advice for those tax resident onshore as it is for expatriates and those leading a more international lifestyle. Where one financial solution might be perfect and ideal for one individual, it could land another in a whole heap of hot water! Therefore, before taking any action with your wealth, seek qualified and independent financial advice appropriate to your circumstances.

In terms of the most common advantages achievable with an offshore savings account, these include the ability to defer the payment of taxation on the interest that you earn. Generally speaking interest is paid gross - i.e., without the deduction of tax. This means that for the tax year your savings have a booster as interest is paid each month on a larger sum. At the end of the tax year or at the end of the term of your savings account, you may well have a taxation liability, but because your money has grown in the interim without tax being taken away, this can have a booster effect on the growth of your money.

For some, particularly those living abroad in a nation where taxation is low or even not applied to money not remitted to that nation, tax can legitimately be avoided on an offshore savings account - however, never assume you have no tax liability, such an assumption could land you in serious bother! Always determine your liability because when it comes to tax, ignorance is not an excuse.

If you work overseas or regularly travel as part of your employment, it could be that you earn your money in more than one currency or you earn it in a currency other than the one you spend day-to-day. In this instance a multi currency offshore savings account could help you to offset currency fluctuations and/or to make it easier for you to save a portion of your wage each month. Offshore savings accounts also tend to be highly flexible in terms of access - again something that really benefits those on the move or living away from 'home.'

Some offshore savings accounts pay higher rates of interest and/or have preferential terms to their onshore equivalents. This is because competition in the offshore marketplace may be more intense than onshore for example. Therefore it is worth looking around and seeing what's available for the positive management of your money.

Finally, the best financial advisers who work with expatriates and international citizens usually have a strong working relationship with leading finance houses and banks offshore, this sometimes gives them access to even more specialist rates of interest or better and more preferable terms for their clients - so it can literally pay to take advice from the best independent offshore and expatriate financial advisers, as they may be able to help you take a short cut to better rates of interest for your savings.