Sunday, December 2, 2018

Case study: 2010 April 23 $17000 US dollar exchange

Dec. 2, 2018

Introduction


It is time for me to work hard on personal finance. I have not learned how to be an investor in Vancouver area, I did not purchase a condo from 2010 to 2015 before the price double and double. I learn that in order for me to get smart on investment, proactive, I have to start from small project, and figure out how to make or save money through each transaction over $200 dollar, analyze them and ask why, what to learn, how to reduce risk to make mistakes. I need to case study those transaction, and then I can figure out what to do next.

Case study


I landed in Canada in 2010 April 23, I drove with my friend starting from April 10 and then landed in Canada. I made a purchase $17,000 dollars in one transaction one day.


Analysis of my transaction


I used us dollars $17,000 to get $15280 Canadian dollars. I did not hold on the transaction, open a US dollar saving account first, and then find alternative to purchase Canadian dollars. I should spend some time to do research on US dollar to Canadian dollars. 

Based on the transaction, I think that I need to bring into at least three options when I made big finance decision. 

A few ideas I should try. Break into the purchase from one time deal into six deals, $2,000 dollars a time and then learn how to get better deal, learn from the experience itself. I can talk to bank clerk every time and then get the tips and learn how to bank in Canada better. 

If I make a big purchase too quick and do not do enough home work, then I will have to learn how to catch up. Just tell myself hold on, let me think about more. 

At that time, I should work on anything making difference more than $100 dollars. I do not have job waiting for me. I need to spend time to figure out things by myself. 



No comments:

Post a Comment