The Aussie dollar hit a record high yesterday, trading at $US 1.108. And while the high is more a reflection of the long suffering greenback, the AUD doesn’t look set to retract any time soon.
The message from experts is clear: the AUD is king. So, what does that translate into for those at home? Well we can advise you on the best ways to spend your golden Aussie dollars (whilst keeping your feet on the ground).
Go shopping! Shopping right now is win-win. By going online and purchasing from overseas sellers, you’ll save yourself hundreds or even thousands of dollars (Check the latest issue of Your Money on newsstands now with a yellow cover to get the full low down on how to buy a snowboard, car or even a luxury boat from overseas and save big bucks). For the savvy buyer, you can snap up bargain big ticket items, as well as smaller every day products.
Take that well deserved holiday. Since your cash is now worth a whole lot more overseas than it used to be, the time to go on that much needed escape is now. The sky is literally the limit! Even if you can’t take time off right now, consider locking in the savings by paying for your trip in full, and go in six months. By going, on holiday in the US or Europe you’ll save a fortune compared to a few years ago!
How much your spending $ has increased in value since 2008 against local currencies
Get investing. With the AUD outperforming our US counterpart, now is the time to buy well performing US stocks. By purchasing shares in major international companies, such as Nestle, Pepsi, MasterCard and McDonald’s, you will get more global bang for your Aussie buck, and benefits will be multiplied if the A$ starts to slip in value against the greenback
“Until the US government reaches a deal to raise the debt ceiling, there is only one direction that the Australian dollar is headed and that is up,” she said.