Euro VS Dollar | What It Means For You

I grew up in a third world country and whenever I would go to change the US dollars my mom sent, it was always worth less in currency than the Euro, and I was told it was because the Euro was a stronger currency.

But today for the first time in 20 years, the Euro and Dollar are equal, what does that mean, aside that when I go exchange some money, I basically get the same as my euro folks.

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1. What’s causing it

– Well if a company is facing a lot of hardship, naturally they become more at risk at defaulting on their responsibilities

– So for example, during the 2008 recession that we had, we saw the US dollar go down, because a lot of folks though we were done

– So if we apply that logic to Europe and see that right now they are being threatened by Russia to get their gas out, then obviously this will have some implication on their currency

How does this effect us here in the US

– Well according to Forbes they are saying that

– If before the dollar was worth less in Europe then obviously it would cost us more to import goods

– However the opposite is not true, we can import for cheaper and our export can also sell for a better price

Not just that but think about this too:

– The stronger our currency is around the world the better our buying power is going to be

– So according to moodys analyst we can expect to save 20-30% on airfair to travel to Europe

– And that also helps our companies when they convert

2. This Is all sounds like good news

– But the last thing you want is your neighbor to start doing bad when you are depending on him too

– So, where it is, less important than the reason

– If this war turns stupid, it might be a huge issue

Plus don’t forget at home:

– We are having an issue with inflation

– We will see our market take a hit for awhile

– And we will see savings potentially start evaporate

3. What I’m doing

– I try not to worry about things I cant control for obvious reasons

My strategy is simple:

– Keep investing

– Only cash is short term cash and emergency fund

– Aside from that, that’s it

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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