How I Lost Over $250 by NOT Risking.

Preface: I know that for a majority of you $250 doesn’t sound like a lot of money to be worried about, so just keep in mind that due to different economies and buying power, many people in Serbia earn that much money for an entire month’s worth of work.

Look at how sad he is.

In a nutshell: If you’re ever dealing with foreign currencies, ALWAYS check the charts before exchanging.

I didn’t.

I thought US Dollar was a stable currency.

That it’s not gonna flop.

It did.

Back in April this year, the exchange rate for USD was around 116.5 Serbian Dinars for one buck, which was an all-time high, but I didn’t know that back then.

My thoughts were that the Dinar is “weak” and any foreign currency is “stronger”, therefore keep the money in Euro or Dollars and you’ll be fine.

Hence why, when I got a big US$ paycheck, I didn’t wanna exchange it right away. I thought it was too risky.

Then the exchange rate started dropping.

First to around 112.

I then thought it was EXTREMELY risky to lose 4 Dinars on every Dollar.

What about 14?

Which is the case for today, almost 4 months later, when the rate is around 101.6 dinars for $1. (In case you didn’t keep track, that’s over 15 dinars lost for EVERY SINGLE US Dollar I exchange. You can buy a small candy bar for that money.)

Luckily I already spent all my cash dollars so exchange offices won’t rip me off anymore with their absurdly low rates.

But when you do the math, it turns out that in the many exchanges made, I’ve lost around 20-30,000 Dinars relative to the April exchange rate, which checks out to way over what $250 is worth today (almost $300).

Lesson learned: invest in Bitcoins! Just kidding, don’t.

Okay, the real lesson is to TAKE FUCKING RISKS. But make them educated risks.

Do some research on the thing you’re planning to risk on, whether it’s that 9-to-5 drudgery you want to quit without a safety net, or if it’s a dodgy start-up you wanna invest in.

Or if you’ve already made a rookie mistake like me, don’t let it get to your head. Life moves on.

I learned that after telling money to fuck off a while ago. Now I’m okay.


Curious to know, have you had any similar failures happen to you? Or perhaps, in the dollar you trust?