Constant growth of currencies, accompanied by the collapse of the national hryvnia, makes residents of the country think daily about where to invest money. Foreign currency, jewelry, cryptocurrency – recommend online publications.
Almost any news portal insists on buying gold, dollars, or bitcoins. Notably, so-called “experts” claim that there are no other options for Ukrainians. Let’s try to understand the capitalization of finances in Ukraine.
Where to Invest Money
The only thing you can do without money is debt (Heinz Shenk)
Euro, dollar, and ruble are the only three types of foreign currency circulating in Ukrainian exchange offices. The Russian ruble is tied to the country’s energy resources with an unstable economy. Plus, the break in relations regarding cooperation puts an end to the capitalization of “wooden” rubles. The euro is the currency of a non-existent state, used to simplify payments within the European Union. The currency is stable as long as there are no contradictions within the EU. The dollar is a regular paper note backed by American debt bills. Due to escalating relations between many countries and the USA, the question arises about the advisability of holding green papers.
Life is a game, and money is a way to keep score (Ted Turner)
And yet, where to invest money? Regarding the acquisition of foreign currency, true experts recommend investing in the British pound sterling. The most reliable currency in the world demonstrates unprecedented stability for paper money. Note that in any spy film, alongside dollars and euros, agents store savings in English currency.
Alternative to pounds are the Swiss franc and the Swedish krona. It is not easy to shake the value of currencies of European countries. Money is tightly linked to the country’s economy and insured by the state. The lack of stability of money in weak convertibility on Ukrainian territory is a drawback. You can only buy or sell currency at certain banks that specialize in such exchanges.
Money you possess is a tool of freedom; money you chase is a tool of slavery (Jean-Jacques Rousseau)
Jewelry: gold, diamonds, gemstones, adornments – will definitely always be in demand. The increase in value since the beginning of the 20th century is clearly visible in any charts provided by banks. Jewelry is a long-term investment. The reason is simple – the difference in buying and selling prices is 20-40%. Accordingly, the owner will have to wait for the jewelry to appreciate on the market to make a profit or stay with their savings.
Virtual Money
Money is like a hare, easy to catch but hard to hold (Claudian Elian)
Experts almost daily talk about investing savings in cryptocurrency online. Charts of fluctuations and growth of digital currencies promise enormous profits. Bitcoin is attractive and profitable, but there are no guarantees. When transferring paper money, the user only gets a login and password to a virtual bank. One must not forget about the constant fluctuations around cryptocurrency. At the state level, authorities are trying to legalize digital currency to tax it. Or ban it – to “clamp down” on digital currency holders. The lack of stability makes it a poor investment.
Practical Survival Tips
When looking for where to invest money, Ukrainians forget about tomorrow. Or rather about the “D” day, when another instability in the country leads to devaluation of the national currency and rising prices for essential goods. It is better to heed survivalists’ advice and set a special rule for yourself or your family. Make an annual stockpile of non-perishable products and update it annually.
Primarily – grains and pasta. Canned fish, stew, and other preserved foods rich in vitamins and minerals. Salt, sugar, spices, drinking water. Before buying products, survivalists recommend researching storage methods and properly preparing a storage warehouse. Moisture and pests can easily destroy supplies within a year.
