So ya, I know I don't follow news or the like. But at least when I was living in Canada people would randomly tell me stuff so I'd have some idea what was going on. But I just realized today that the Canadian dollar is sucking ass. SERIOUSLY sucking ass. Which really really hurts me, seeing as every cent I spend is in a different currency. So what do I do?? Since coming to Thailand I've lost about 160,000 baht simply due to the Canadian dollar decreasing. That works out to over $5000 CAD in international terms. That's horrendous! So what do I do?? Do I transfer all my money to baht? Do I transfer it to USD? Do I transfer it to some other currency? No matter what, leaving it as CAD is gonna continue to suck for me so I better be like a rat getting off a sinking ship or risk going down with the shitty Canadian ship. Dammit!
Any suggestions from someone that knows what they're talking about? This really hurts.
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6 comments:
Have you looked at USD lately? You're better off with your loonies. How about Euros or Yen? BAHT IS A BAD IDEA.
well i wouldn't exactly call the baht an anchor currency. What you should do however ther Mr Bar Owner In Thailand guy is move a portion of your funds locally so you have a known element to work from. Say a years worth of expenses. The rest you might want to look at picking up some bonds or something. Good ol US Tbill might serve you best being international - though your losses will present themeslves.....that loonie is getttign pounded
Yeah. Currency fluctations are a mother fucker.
What you can do now is put a greater portion of your money into highly liquid investments to offset market fluctuations. Money Market, T-Bills ...etc. Although stay with CDN currency investments ( or you'll be subject to dollar fluctionations ). Then again, cash is king unless you want to report your investments to the tax man.
Arghh. Please don't complain about $5 in losses!!!
Oops I meant $5k...
buy gold. I dont know why I give this nugget....so to speak.