Happy Tuesday Hive!
It is strange that it’s already Tuesday, but I am glad the week is already underway.
Last night with all the Corona stuff going on, and I decided to got through our finances, see what we can cut, see what we can save.
At every stage of my life, even when I was extremely poor and couldn’t pay bills it always eased my anxiety a little bit when I put my financial situation down on paper.
If I can see what’s going on in front of me it’s easier to deal with. Uncertainty is never a good idea when considering your finances.
We will be buying a house in two years and want to be prepared for it. It will be our second house (having sold our first one to immigrate to Germany), and hopefully our last.
My plan is to capitalize on this economic situation, but sadly I don’t have a crystal ball. I definitely think it is going to get worse before it gets better, The big question is save or invest? And honestly, can we even trust exchanges anymore? I don’t know. Precious metals seems like the safest bet.
As it stands, we are pretty economically stable and living in a country like Germany adds another layer of security but as we all know things are moving and changing daily and one must be vigilant in times like these.
There is good news that countries are considering loosening restrictions. Germany has already lifted a few rules and the chancellor is meeting with other leaders Wednesday to discuss reopening the country.
Will it be a temporary adjustment in the market before the crash or will the world economy stabilize using the US dollar as a quasi work bank as some predict.
The important thing is to have a plan. Doing something is better than nothing and for now I think we will save what we can and see how the market plays out.
Wishing everyone a good week and what do you think? Economic doom? Hope not.