For the last five years, American dollar has been dropping consistently without fail. My money which I am keeping in US dollar is not safe after all. Is everybody losing their confidence in US dollar in spite of many Internet transactions are still in USD as a standard?
Making money online has been fun for me because it is a hobby for me while it pays me something for what I am doing. I wouldn’t say that I am making lots of money online right now… But being able to make some money is attractive enough to make me work harder for my future. It is enough to go for a very sumptuous meal and having fun playing bowling, billiard and many other games with my girlfriend, and to pay some of my bills too.
I used to think every 100 US dollars I have made is equivalent to my 165 Singapore dollars… But now, I am making only 144 Singapore dollars.. Which goes to show that I am losing about 20 Singapore dollars… Small money is still sustainable and I can close an eye for it… But when it comes to big money, I am losting lots of money!
I have a feeling one day, every US dollar is equivalent to one Singapore dollar… If such thing really happens, I wonder there might be a change in the economy somewhere…
Hi Charles,
Yes the good ole days of the strong american dollar seem to be over. And the drop in the dollar’s strength is indeed painful. Especially when the numbers are in a couple of thousand dollars a month. Basically losing a few hundred S$ a month due to the drop. Argh.
I see some people selling their stuff in Euro dollars now but doubt I can make the move for my niches. Will just have to hang in there. In fact my friend actually hedges his US$ income through the forex market, something to consider for those churning 5 figure US$ incomes and not based in the US.
Regards,
Alvin Huang
That forex idea seems interesting! How it works? Let me know through mail… Thanks!
How you withdraw your money from PayPal ?
I applied for Public Bank Debit Card BUT not yet come..
It is really simple in Singapore. This paypal is linked to my DBS bank account… So, I will just transfer a sum of money from there to my bank… And all it takes is just about 3 to 4 days for the transaction to be done…
I think you can transfer your paypal money to a different currency, right? Like the good ole EUro or British Pound? But only transfer if you think the dollar is going to keep going down. If you thinkn it’s going to go back up, buy buy BUY!
Dollar is continuously loosing value in comparison to INR also