Everyone who does some working for Americans or work on US freelance Websites will know this problem mostly. You get payed with $, but your countries currency isn’t the Dollar, it’s the Euro, Yen, Pound or whatever so you need to get your money changed, which is a losely deal, by the current exchange rates of 1.44$=1€ and higher. We need a way out of that misery, while one or two years ago by exchange rates of ~1.10$=1€ you were able to compensate these rates by slightly increased prices for your work.
But nowadays you wouldn’t get any job if you would still behave like that(or much less that before). My current way is take the Dollars, then I’m gonna Buy stuff from American websites and let it be shipped to me home(although if I have to pay some additional taxes for my country, I’m getting it cheaper). But the problem for that is directly next to it, you surely can’t get everything from the US, like your bread, your bills payed and so on. So we still need another one.

One would be to use some other Freelance websites, where the allowed currency isn’t limited to Dollar only, so at least people from outside the Dollar world could profit from it. But that’s hard to find, as well as to get the success from the global players as well to your local Freelance Websites. Personally I wouldn’t say that I master the problem perfectly, and it will get more worse as the fall of the Dollar didn’t stopped nor it’s likely that it will happen soon.
Do you have some real good approach, or something you really recommend? Feel free to tell it.

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Tags: Dollar, fight, loss
2 Responses to “How to prevent loss from the falling Dollar”
  1. Hello,

    Interesting article. Well, this is really a problem that the US dollar is getting worse and worse. But the only solution would be not to get paid in US dollars. Maybe there will be some kind of hyperinflation? I don’t trust the US dollar. And I don’t trust the Euro. You should try to get paid in real money (silver coins). But this just a theoretical solution. So I wish you good luck. But I am sure that you are not the only one who has that problem.

  2. Philipp says:

    Thanks for your reply. But wouldn’t it be still quite the same problem by getting payed in silver coins? You would still need to buy them, or you would need to sell them(where your Currency rate would come into the game). So mostly we would need to get everything payed with them, in order to have the most profit from it. Anyway a nice idea, and it’s for sure not a bad idea to invest your saved money in something hard, value increasing like silver or gold.

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