The following is a guest post by Will Damon. If you are interested in guest posting at Club Thrifty, please see our guest posting guidelines.
One of the things that many people enjoy about traveling to locations abroad is that, depending on the place, their money may suddenly be worth more. Due to the disparity between different international currencies, you may be able to get more for your money in certain foreign locations, which can add a sort of bonus to your vacation. Of course, this can also work the other way around, if your destination’s local currency is worth more than your own. So, before your next vacation, instead of focusing on what you’ll get out of your currency while travelling, start giving some thought for how to make the most out of your currency on a more regular basis. This is not only a sound financial practice in general, but can also help you to have more money for your trips abroad.
Invest in Gold
One way to get the most out of your finances without taking on additional work is to make a strategic investment. Specifically, if you are just aiming at solidifying your finances and making small gains, one form of investment you may want to look into is the purchase of gold bullion. Unlike typical stock and bond investments, purchasing gold bullion allows you complete control over a tangible resource, and can often lead to more stability in the worth of your currency, as well as gradual gains. So, how exactly do you purchase gold bullion?
How to Purchase Gold Bullion
The simplest and most efficient way to invest in gold is to find a website such as BullionVault that allows you to make transactions online. The gold price charts at BullionVault will consistently be updated with accurate world prices, meaning that you can confidently buy, store, withdraw, or sell any amount of gold you please, at any time. Ultimately, this makes for a smooth and easy investment, meaning that it is one you can control as a sort of financial side project, rather than a time-consuming endeavour.
As mentioned, the reason for a gold investment tends to be stability. While currency rates across the world can vary significantly, and are occasionally prone to drastic changes, the world gold price tends to be far more stable. This makes for a relatively low-risk investment. Of course, if you are looking for significant financial gains through an investment opportunity, you may want to look elsewhere. But if you are merely attempting to make the most of your currency, and perhaps earn a bit extra for that next trip you’re planning, putting some money into gold may be a good idea. No investment is entirely predictable or “safe,” but over the past decade it has been very rare for people to lose money in gold, and small gains are probable.
This is a guest post by freelancer Will Damon.