Coping with Changes
Someone recently asked me why I was so amused by those people who are Googling what EU means. It’s amusing to me because there are no actual information on what kind of people are asking. Are they the ones who voted? Or not voted? Or weren’t even allowed to vote but are just curious? Or were they those who just weren’t familiar with the acronym? It would stay as a mind boggler unless all privacy policies are violated and information about them are collected. That in itself is amusing. Though mind bogglers usually are.
But then again, why should i care about it? It’s not my country that’s going through the process after all. And yet, it’s pretty hard not to say anything after watching the after effects of a big decision made by so many. So, i’ll put it this way. I am just a stay-at-home mom who’s been watching too much TV.
Too much that i have come to observe these. If the whole thing was just a movie i would think the script went this way….
A group of people planned to manipulate a whole economy using the referendum as bait. Knowing that when the leave votes win, there would be economic turmoil. And with economic turmoil comes vulnerability just about anywhere, including the tumbling, somersaults, and all forms of acrobatics of trade in all affected sectors. In this scenario, a very very big contributor to worldwide trade was the target. Thus with the turmoil comes the sudden dip then fluctuation of the country’s currency, the Pound.
So what? Well, if the value of the Pound goes down real fast and really low, there would be a wondrous opportunity to buy the currency while it is low. What good would it do to anyone if it is low? That’s where the power of seeing the big picture comes in.
If these groups of people had a huge debt in Pounds that they cannot pay off with the old exchange rate, the value of their currency would then be able to buy more Pounds with the newly devaluated Pound. Then they could probably be able to pay more or even all their debt.
If these groups of people wanted to acquire property, with the new devaluated Pound, they would be able to get more Pounds for their currency. Thus they would need lesser amounts of their currency to buy Pound-priced properties in massive amounts.
If these groups of people wanted to put up their businesses in the country but capitalization was more costly with the old value of the Pound, the devaluated Pound would then pave the way for lesser capitalization needs.
I could cite so many more motives but I’d rather not. It would simply accentuate the fact that I have been watching too much TV and movies that it has made me interpret too much into reality to actually think they are possibilities.
So I’ll just pursue my actual goal here, to help others understand how to cope with the change.
If you are an OFW relying on the Pound for your income, I would suggest these.
> Rewrite and recompute your whole budget to reflect the current value of the Pound. Make it a point to explain to those you are supporting financially that it would be your new budget and that they have to adapt to it for as long as they can. They have to be made to understand that you all have to adapt your spending on the current exchange rates until such time that it stabilizes.
> Encourage your dependents to start thinking of ways to augment or add to your income, like starting a small business. That way, the difference in the exchange rate of the Pound from the old high to the new low would be compensated or replaced with the income earned from the small business.
> If you have some Pounds set aside in savings, try to invest them in gold or treasury bonds, not currency trading. If you are not familiar with these, it would help if you asked a stockbroker or visited a bank and asked about investments. They would not steer you wrong because if you make money from the investments they suggest you to make, they too make money.
We can only do our best to adapt to changes in economies around us. These are a few of the ways we can adapt and adjust. For the reality of it is this, if we want change, we have to be ready to adapt to any and all consequences it brings. If we are just indirectly affected by others wanting change, then we must do our best to adjust.
Peace!
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