Posts Tagged ‘currency’
Filed under: Money relations
The business accounts are proceeding apace. I was able to get accounts set up in my business name and now just need to move on to the part of the business that fills those accounts up. It took a while and quite a bit of searching for me to decide on a bank to go with. Most of the banks recently have issues, plus many of the card givers definitely have issues. They are a few that are still good deals, but you seem to have to look for them. However, a credit union, on the other hand is normally a good deal. Credit unions are usually much better than regular banks, at least for their member/customers. After looking around at different banks I went ahead and settled on a credit union, because of their stability and because they are less inclined to screw you just on general principles like many of the banks and credit providers are currently trying to do. I thought of an offshore bank account but I think you already need quite a bit in an account before they will consider you for something like that.
I wonder if they look into credit ratings when they are deciding whether to offer you an offshore account or not? Even if you just went overseas with an account it might turn out for the better for you. That does of course depend on what country you choose and what, in general, their currency trades at. The only other factor I would think to be very important is stability. Will the place you are investing retain the rights it currently allows for non-citizens or will those be taken at the whim of those running that country? It makes a difference, trust me. The main difference being whether you get to keep your money or not, and how safe you feel trading in that currency and what your bank account looks like.
Tags: banking, banks, currency, money
Filed under: Money relations
Living overseas gives you a great perspective on currency and the differences between them. I loved it when my home currency was stronger than where I was living because that was what I was getting paid in and when it was stronger and I converted I got a lot more for my buck. I thought that was a great thing! Currencies, of course, fluctuate so it went the other way sometimes too. Where my home currency was almost equal to the currency of the country I was living in. That wasn’t so much fun. However, the other times really more than made up for it. I would often end up with a lot of cash in the foreign currency, the country I was living in. Which was great, cause it let me do a lot more traveling and sightseeing and general all around playing while I was working there. It also really helped to build up my foreign currency bank account.
I was talking about investing earlier and I remembered the currency stuff and was thinking about the trading I was talking about but instead of stocks maybe trading currency. I know people do it and do well at it but it is another thing where I really don’t know that much. I am not sure how you would work around to get more for your original currency than you had, unless. Unless you (and this just hit me as I write this, which I am sure shows how smart I am) buy high and sell low. However, you would have to do it in a different way. Let’s see if I can explain it. If you buy the foreign currency when your currency is strong you will get a lot more of the foreign currency, right. Now if you can wait until your home currency is weak relative to the foreign currency you could then buy you home currency and hopefully come out ahead. I think that is probably the theory, let me know if it makes sense or if I am completely off. Probably I am completely off, not sure how it would affect your current account, might increase might not. Going to have to think about it some more.
Tags: currency, currency trading, foreign currency, invest
Filed under: Money relations
It is kind of hard to know what to invest in right now, well it is probably the same at anytime but now your chances of choosing something that will crash and go away are higher. But, on the other hand there are a whole lot of absolutely great deals right now too. Knowing what they are though is the challenge. Doing some research and checking out finance forums can give an idea of what might be good. I think the other thing is to look at what will probably last, what is needed now and will probably be needed in the future? Personally, I think tech and bio are the way to go, at least for long term. Plus most of those stocks are at a bargain price right now. If you are really into it you could check out some money brokers, or stock brokers, whatever they call themselves at the moment. If you are willing to pay a lot of them are looking for jobs too, I believe.
I haven’t any plans to go that way myself. When I get some free cash, as in cash not being used for bills and to survive, I want to try those online trading things. Like E-trader and that one with the baby. Can’t think of it at the moment, might even be E-trader. I really haven’t looked into them but I know some people who swear by them, swear at them too actually. Might be fun to be a day trader, although it is probably much more challenging at the moment. However, I bet it can be really lucrative now too. Probably the best way to do it at the moment is to use pretend money and see how you do. That way once a person feels comfortable they can, if they have the extra cash, and invest a hundred or so online and hopefully grow from there.
Tags: currency, finance, investments, money
