What Currency Should I Save In?

As soon as you earn enough money to start saving, it is a good idea to start thinking about what currency to choose to save them in. Offhand, start with your local currency. That way when you need some extra cash, you will always have them on hand. At a certain point of your savings, you can start to consider putting some into a second currency.

The benefit of this is twofold. First, having some cash in another currency will make it a bit more difficult to touch; therefore rendering your savings more resistant to impulse spending. Second, by choosing a stronger foreign currency, your money may actually give you returns on the currency differentials at the end of the year.