WHY are we such hoarders. AND WHY we should change the habit?
We all have a habit of keeping everything just in case it may come in useful later on. From clothes, to jewellery, knick-knacks to foreign currency, people of a certain age were brought up to value everything, waste nothing and to be generally frugal – they may have even passed this way of thinking onto their children and grandchildren! It’s in our DNA to hold onto everything, believing that in time it will obtain a value. It’s a habit and it’s a habit that needs to be looked at.
In the case of foreign currency, we all hang on to it when we return from travelling and the main excuse for doing this is – nothing, we’ll re-use it when we go back. However, it’s gathering dust in a drawer or jam jar.
At the last count, it was estimated that £4 billion of currency sat lying in the homes of UK households literally wasting away. Yes, its value can rise and decrease, but we still think it holds its value because €10 is €10, right? WRONG! WHY? INFLATION.
Inflation is the global excuse and justification for price hiking! It’s a ‘KICK THE CAN DOWN THE ROAD’ issue and we’re part of a global supply chain currency exchange that plays a huge role in the process on a second-by-second basis.
What we all fail to see is what’s happened in the country that we originally bought the currency for. Prices rise, inflation is blamed but prices rise -it’s a rare birdie that sees a country with negative inflation. Therefore the €10 that you may have in the drawer today does not buy you the same thing this year as it did last year. The value gets sucked out of it silently and, because as part of our travelling habit, we see other currencies almost as monopoly money, mentally we have already devalued it!
Ironically, what seems to have been missed is that we, the community or social advocates really hold the fortune of the value of currency, of any currency. If you stick with the ‘HABIT’, of using the same old supply chain then of course you devalue your currency. HOWEVER if you try to break the ‘HABIT’ and look at an alternative such as bidwedge, you’ll find that your leftover, wasted currency REALLY does have value.
Choosing the right BUYBACK option is crucial. All current vendors use currency ‘spread’ as their favoured option, so you get burned either side whether ‘BUYING’ or ‘SELLING’ – we offer something completely different – we’ve made the service easy. However, in terms of rates, we use the rates that the banks use to sell to each other adding a small charge that is completely transparent and understandable, ensuring you get the best possible rate. Bidwedge is a truly community-based company. We NEVER use a bank or wholesaler to purchase currency, they buy it from people, putting value back into what we believe is worthless and in these difficult times.
Bidwedge should be an option worth considering