I Lose $400 Every $1000 I Make :(
Oh man, this global economy is killing me, especially living in Canada. When I started my online business, the Canada/US exchange rate was 1.6 or so. This meant for every US $100 I got, I actually got about CAD $160. It was a terrific time!
Well, exchange rates are changing and yippee for my country, our dollar is going up. But it's killing me. I went to the bank to cash an $1867.92 check ("cheque", in Canada -- LOL) and 2 years ago, I would have received about $2988 or so.
Do you know what I got today?
Well, today's exchange rate was 1.191 and I got a measly $2224.69. I almost died. I have to work 40% harder...just to make the same amount.
So what's the solution? I'm not sure there is one. Most of my income comes from affiliate programs and they pay in US dollars -- I could seek out more Canadian companies, but even they sell in US $. For my own products, I *could* sell in Canadian dollars, but would I lose sales?
I *try* to keep as much money in US funds as I can...but a girl's gotta have some cash to live.
Hmmm...watcha think?
Well, exchange rates are changing and yippee for my country, our dollar is going up. But it's killing me. I went to the bank to cash an $1867.92 check ("cheque", in Canada -- LOL) and 2 years ago, I would have received about $2988 or so.
Do you know what I got today?
Well, today's exchange rate was 1.191 and I got a measly $2224.69. I almost died. I have to work 40% harder...just to make the same amount.
So what's the solution? I'm not sure there is one. Most of my income comes from affiliate programs and they pay in US dollars -- I could seek out more Canadian companies, but even they sell in US $. For my own products, I *could* sell in Canadian dollars, but would I lose sales?
I *try* to keep as much money in US funds as I can...but a girl's gotta have some cash to live.
Hmmm...watcha think?
3 Comments:
But just think of the money you're saving everytime you buy American products.
Yeah, but try earn USD and then convert GBP... If I bank $1000, I only end up with around 520 British Pounds -- YUK! YUK! YUK! I tell ya... ;)
The $ has lost almost 35% in abit more then a year.
So I have the same painfull experience when I go to the bank.
Then on the other hand, I can buy more thingies online with the same amount of money now ...
Hey, wait a sec, one have to earn money before spending it, right?
I knew there was some problem with the "buy while its cheap" plan :-)
Kenth
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