How Aussies Can Profit From The High $dollar$

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8th November 2010, 10:31am - Views: 737
How Aussies can profit from the HIGH $dollar$

In recent weeks the Australian dollar has performed strongly against the greenback breaking records and making economists on both sides of the Atlantic dizzy with anticipation as they speculate the impact of a strong Aussie dollar on the world economy.

The brush with parity is due to the combination of an Aussie dollar rising in anticipation of a pending interest rate increase, and a greenback risking further devaluation as the Fed considers monetary easing moves that will put more US dollars in circulation1.

And while the US may be struggling, a strong Aussie dollar could be cause for celebration here at home and financial expert Wilson Luna has some fantastic advice about how to benefit from a poorly performing greenback.

'The Aussie dollar hasn't cleared 100 US cents since July 19822,' says Luna. 'All indications suggest it's going to hover around the $1.00 mark for quite some time, and this translates into some great savings for Aussie consumers.'

Luna says that there are three areas where families can cash in on the benefits the strong Aussie dollar will bring:

1. The world is your oyster: it's not only holidays to America that will become cheaper. The Aussie dollar is performing strongly against many of the world's currencies recently yielding 0.704 Euros and 74.99 Yen3. That means our annual Christmas holidays just got more economical, with the strong dollar opening up a whole world of opportunity for many families. To get the greatest benefits, pay for as much as you can in local currency when you get to your destination, rather than paying up-front at your travel agent.
2. Shop till you drop: we've all been frustrated by conversion rates when shopping online, and a strong Aussie dollar can equal big online savings. Just beware of additional costs, such as postage and shipping.
3. Made in the US: we can expect lower prices on products imported from the US, on everything from cars and petrol to clothes, books, furniture and even electricals4.

'While I wouldn't encourage people to spend unnecessarily,' says Luna, 'If you're in a position to purchase, now is a great time to get a bargain.'

-- ENDS --

Want to arrange an interview?
Wilson Luna is founder of Your Family Your Money, Australia's fastest growing money brand with over 80 000 subscribers in the last 12 months alone. He can be contacted directly for interview or comment on 0425 311 444 or at interview@yourfamilyyourmoney.com.

SOURCE: Your Family Your Money



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