Currency reliability: should you invest in dollars or euros?

Experts advise building a financial cushion by saving 10% of income.

Economic experts recommend saving about 10% of your total income every month to create a financial cushion. These savings can include not only your basic salary, but also additional income, such as interest on deposits or income from part-time jobs.

Doctor of Economic Sciences and Professor at Khmelnytskyi National University, Raisa Kvasnytska, noted in her commentary that it is essential not to keep money “under the mattress. Savings should bring benefits and maintain their purchasing power, so it is worth considering in what form and in what currency you plan to store your capital.

The expert emphasizes that keeping all savings in one currency is a mistake. To achieve greater financial stability, it is recommended to distribute savings between several currencies. A rational approach is to keep part of the money in hryvnias, part in dollars, and part in euros.

At the same time, the ideal strategy would be to store the majority of your funds in foreign currency, since the hryvnia may be subject to devaluation, which is especially important for long-term savings.

The proportion between dollars and euros depends on your financial goals. If you plan to spend in European countries, it is advisable to pay special attention to the euro, since the dollar is less widely accepted there.

In addition, it is essential to divide your funds not only by currency but also by storage method. You should keep some in cash for quick access, and the rest in bank accounts or cards for convenience and security.