Tuesday, November 04, 2008

Tsk tsk

Thoroughly demotivated by the weak British pound over the last 6 weeks: 80% of my savings are in pounds and any property I'm looking to buy here is sold in dollars. In the space of a few weeks I've waved bye-bye to 25% of my purchasing power.

I am still earning in dollars though, but due to a bad in October, rather than playing more poker to take advantage of it's recent increase in value I focused on upping my affiliate revenues.

In September I had a decent month making $2150 at the tables plus around another $800 in bonuses and rakeback, over approx 30K hands.

October saw some brutal beats, I think I just managed to end the month in the green at the tables.

Once again my internet marketing efforts have out-stripped both months in terms of earnings, so with that in mind I may well spend the next couple of months trying to fill a niche or two.


Razboynik said...

A good way to even out the risk of de-valuation is to split your money 50/50 $$$ and £££. The fluctuation in currencies should balance, therefore the difference with be negligible.

Perpetual_Traveller said...

Yeah, I thought about opening a USD denominated account when I was last in the UK. Got a little greedy and preferred the higher interest rates on my GBP accounts.

The other option is to leave money in USD online, but we read so many MB/Neteller account hackings I prefer not to. USD are probably safer in Stars than they are in e-wallets.

Seems obv that the Bank of England will lower interest rates tomorrow so I'm guessing the pound will slide further in the short-term.

TrUlster said...

Hear you on the GBP situation, ditto for me. Worse, NOK is also in the shit (though with more potential for a fast bounceback). Patience...

Hypnotic said...

I had a rough Oct. too. Glad its over. I too with the low dollar vs. yen and me running so bad found it hard to get motivated to play poker