Nothing to lose. In fact, their situation is worse than that of others. Typically, most people live paycheck to paycheck and do not have a financial cushion. Having lost their jobs during the crisis, they are left without money for housing and food. Therefore, there should always be a cash reserve.
It's too late to exchange rubles. And even more so, do not touch ruble deposits. In case of early closure of the deposit, the interest rate on the deposit is equal to the rate on the demand deposit. You will lose all interest on the deposit. Before withdrawing money, think about the need for this money.
First of all, you need to correctly assess the current situation. Calculate how much cash you need to save from. Amounts up to 30,000 rubles. you can leave it as a reserve and not touch it. It is better to keep them at home and not invest anywhere. Holders of larger amounts should take their time. The most correct solution during a crisis is to diversify your own money.
It is necessary to divide all the accumulated money and place it in different financial instruments. The first part of the money can be deposited in a large bank. For the second part, buy precious metal and put it on an impersonal metal account. Before buying, look at the dynamics of the change in the rate of the selected metal. It is more profitable to buy the precious metal, the price of which at the moment is not the highest in the last year. For another part of the money, buy mutual funds of a large investment company.
Mutual investment funds are divided into conservative and risky. For a quick and high income, buy shares in a stock fund. If you don't want to risk your money, then you can invest in a bond fund.
Keeping a very large amount of money in the bank is very risky. Even if you follow the rule “don't put all your eggs in one basket” and distribute the money to different banks, you may still not get your money on time. During a crisis, the bank may temporarily refuse to issue a deposit. Therefore, real estate is considered the most reliable investment.
When investing, keep in mind the liquidity of your investments. That is, consider how long you want to get your money back. For example, real estate has very low liquidity. It is not always possible to sell an apartment quickly. During a crisis, demand can change, which will affect the price. Therefore, the sale of real estate will not be profitable and advisable only in case of urgent need. Bank deposits, compulsory medical insurance and mutual funds have high liquidity.
For many, it may be a sign to buy what they have long dreamed of. For example, a car. With the growth of the dollar, the cost of imported cars will rise. Prices for domestic cars will also rise, as imported components are used to assemble cars. While prices remain at the same level, you can manage to buy a car before the price rises.
And now a useful tip - it's time to learn how to save. Save 10% of your income every month. You will have a cash reserve and funds to replenish your investment portfolio.
The instability of the economy of our country, the rapid jumps in the exchange rate of the national currency are forcing Russians to look for new financial instruments to protect their own savings from depreciation.
Today, an increasing number of our citizens are wondering whether it is worth making bank deposits during a crisis, taking loans, how to preserve their savings, how to behave in the face of a fall in the national currency.
Ruble devaluation, denomination, default - what do these terms mean and how do they differ?
Devaluation of the national currency is usually called a decline (downward movement), fixed by official sources, of the nominal and actual rate (value) of the state's monetary unit.
The exchange rate of the national currency, as we all know, is determined by the value of the national currency in relation to the most stable foreign currency units, as well as the purchasing power of citizens. In recent years, the exchange rate of the ruble against the value of the US dollar or the European currency has slightly decreased.
Do not confuse the concept of devaluation with terms such as denomination and default:
- Denomination implies a change (more often a reduction) in the total number of zero digits on the circulating banknotes of the country's currency;
- And default is the country's inability to bear responsibility for the obligations assumed in the international format (when the external debts of the state objectively cannot be repaid).
Despite the fact that devaluation is a less formidable term than default, a depreciation of the national currency or a fall in the ruble may well bring a lot of trouble to the citizens of our country.
Why the value of the ruble may decline?
World financiers know many reasons for the decline in the value of the national currency of various countries. The most significant reasons that can affect the decline in the value of the ruble are as follows:
- Insufficient stability of Russia's relations with international partners;
- Periodically arising factors that reduce the market value of oil, gas, and other natural resources that Russia is rich in;
- Instability of the country's domestic markets;
- The emergence of serious problems in large Russian companies, partially or fully owned by the state (lack of foreign investment, deterioration of international lending conditions, etc.);
- The lack of equilibrium between supply and demand in the foreign exchange market is the excess of demand for foreign currency over its supply and, accordingly, the excess of the supply of the national currency over its demand.
What happens to deposits when the ruble devalues?
The devaluation of the national currency, first of all, can lead to a significant increase in inflation rates (consumer and other) in the country, as well as to the depreciation of the population's deposits in the national currency.
Deposits designed to preserve and increase the savings of depositors will not be able to fulfill their functions when the ruble falls. If the savings of citizens, when the ruble falls, are on a deposit and cannot be spent before the expiration date of the deposit agreement, this can lead to significant financial losses for depositors.
The standard consumer basket with rising inflation and devaluation of the ruble will rapidly rise in price. For one and the same amount of money, citizens of a country in which the depreciation of the national currency is observed will be able to purchase a significantly smaller amount of goods and services.
If the fall of the national monetary unit is excessively rapid, this, in the end, may lead to a default - the inability to timely pay off the international debts of state Russian enterprises.
As a result, the fall of the ruble can lead not only to the depreciation of deposits, but also to a production decline, a reduction in employment - a serious economic crisis in the country. For residents of a country in which the national currency is depreciating, devaluation can mean:
- An inevitable, rather significant deterioration in the standard of living;
- Significant reduction in income;
- A sharp drop in the purchasing power of citizens;
- Loss of some or all of your existing savings.
A fall in the ruble can also lead to a sharp rise in the cost of imported goods, an increase in unemployment, bankruptcy of many enterprises or organizations, and other negative social consequences.
What if the ruble falls and you have a ruble deposit?
Unfortunately, there are no algorithms of correct actions to save your savings in the face of devaluation of the national currency. Nevertheless, sometimes financiers in such situations advise:
- Close deposit;
- Carry out the purchases you need - movable or immovable property, household appliances - those goods that in the near future may significantly rise in price;
- In some cases, exchange the national currency for a more stable one; it is possible to open a deposit in foreign currency.
Undoubtedly, if such recommendations are followed, depositors may still lose a certain amount of money. In this case, it is important to be able to correctly calculate the possible losses from maintaining the ruble deposit at the current rate of ruble devaluation and spending on deposit termination, currency exchange, urgent purchase of goods and services.
What is the best thing to do with deposits in rubles in a bad economic situation for the country. Things to Avoid
The tense economic halt in Russia, serious problems in the neighboring country and sanctions from the EU and the United States - all of this together shook the Russian economy in general and the banking system in particular. Many people wondered what to do with ruble deposits. A serious risk of capital depreciation appeared, and bank clients began to actively withdraw their deposits and collect money in foreign currency. But is it worth resorting to such extremes?
In times of economic crisis, no hasty decisions should be made. Today there are three effective strategies that will allow not only to preserve capital, but also to finally achieve serious growth. Let's consider each strategy in more detail:
- We keep deposits in rubles. If earlier you did not manage to transfer funds into foreign currency, then it is more expensive for yourself to do it during the period of the growth of the ruble. Six months ago, thousands of people were ready to pay 80-90 rubles for one US dollar, which subsequently led to huge financial losses.
Fortunately, after reaching its peak, the ruble exchange rate stabilized slightly and stopped at the level of 50-51 rubles. A further decline is unlikely to be foreseen, so you can slowly collect currency. - We buy dollars. On the other hand, there are no guarantees that the national currency will not start its "peak" again. In such a situation, deposits in foreign money will be able to protect against unpleasant surprises. Of course, it's not worth transferring all your deposits into foreign currency, but using them as an alternative is a big plus. That is, you can open a deposit in rubles and at the same time in one of the foreign currencies - euros or dollars.
What shouldn't you do?
To know how to deal with deposits correctly, you need to be able to respond correctly to crisis situations and avoid gross mistakes. Next, we'll look at the steps you shouldn't take:
- First, do not panic and make sudden movements with deposits. At the peak of the growth of the national currency, many clients of banks close their long-standing deposits and buy currency at a huge price. US dollars and euros are sold by speculators much more expensive than the real price, which does not bother buyers at all. This is mistake. During the growth period, you need to get rid of the currency, not buy it.
You can do smarter. If you have a foreign currency deposit, you can withdraw it, convert it into national currency (at an excellent rate) and put it in the bank, but already on a regular deposit in rubles. This option seems crazy only at first glance. In fact, the growth of the national currency is not endless and, in its essence, is not supported by anything, therefore, such a transfer will help to earn money. Over time, when the rate returns to its positions, you can withdraw the ruble deposit and convert it into currency (if this is still necessary). - Secondly, you do not need to immediately close your long-term deposits and at the same time conclude contracts for short periods of time - from 1 to 3 months. Experts strongly discourage going to such stupidity. There are a number of negative points here.
First, you can lose potential interest income. Secondly, financial institutions offer good rates in local currency only temporarily. The increased "activity" of the national currency will sooner or later subside, which will return the level of interest to the previous parameters. That is why it is so important to take your chance and work with ruble deposits. In practice, they are much more promising and can bring a good income.
On the other hand, do not trust too much the banks that offer exorbitant rates. As a rule, such financial institutions have serious problems with raising capital. The bank may be left without a license at any time. Of course, the insured deposits will definitely return, but you still have to get nervous and wait. There is little pleasant here.
Output
Thus, even with a sharp jump in the national currency and the presence of a large ruble deposit in the account, one should not make sudden movements. The best option is to leave your money alone and let it do the due date. As practice shows, the economy is inherently cyclical. Until recently, the ruble exchange rate against the dollar was at around 60-65 rubles. After the incident of several months, it was possible to stabilize the national currency to the level of 50 rubles, and there are no prerequisites for growth yet.
On the other hand, do not miss your chance. Now is the period when you can strengthen your financial condition by buying additional currency. If you choose between the US dollar and the euro, then it is better to prefer the first option. The EU is going through a far from best time today, so its rate against the US dollar will continue to decline.
The crisis continues to unfold, and we will have to learn to live in new conditions. It is better to clearly assess the threats and be aware of the problems - this is the only way to live with dignity in this difficult time. The crisis severely punishes the unprepared.
Despite the optimistic forecasts of some economists, the crisis in Russia still continues to unfold. Apparently, we have to learn to live in new conditions, while the clouds on the financial horizon are only gathering. We know that it is better to clearly assess threats, and not be like an ostrich, especially since real events will not allow us to remain in blissful ignorance. Awareness of problems will allow you to overcome confusion and take steps not only to survive, but also to live a decent life during this difficult time.
What's happening
The West has expanded economic sanctions, cutting off Russia's largest banks from capital markets. Fortunately, the accounts of Russian banks have not yet been frozen and there is no ban on energy trade. But, on the other hand, such a possibility cannot be ruled out, since the political crisis is far from being resolved, and the parties' rhetoric can hardly be called peaceful.
It dropped from $ 100 to $ 60 per barrel, and this decline is likely to continue, while hopes for a rise in prices are very vague (see ""). reached almost the same mark - 60 rubles for $ 1. A banking crisis unfolds. The central bank raised the discount rate to 17%, which will effectively kill lending. Today, however, the rate has been slightly reduced - up to 15%, but this cannot cause revival in the credit market. Banks have raised deposit rates to 20-22%, which means that loan rates will increase proportionally. At the end of last year, according to official data, inflation was 12-13%, and next year it will exceed 15%. The projected drop in GDP in 2015 is from 2 to 5%.
The ruble exchange rate is more stable than ever and still does not exceed one hundred kopecks.
As a consolation, we can say that the crisis severely punishes the unprepared, but it can be useful for someone who will assess the dangers in time and will act.
What to do
1. The crisis is easier to deal with with money
Not a good joke for those who have not had time to stock up on cash. If it is still possible, try to provide for yourself for a rainy day. This money should be at hand not to buy currency or a profitable investment, but for the most urgent needs. Create a reserve that can be very helpful in the prevailing conditions. The financial cushion is your lifeline during an economic storm.
2. Pay off your loans, first of all, expensive ones and do not take new ones
In a crisis, all efforts should be directed at creating personal financial security, and not at enriching the bankers.
3. Foreign currency loans
If you have foreign currency loans, do your best to restructure them into ruble loans. This is especially true for mortgage loans.
4. Send free money to buy currency: dollars or euros
5. Forget the refrigerator
Prices for TVs, refrigerators, vacuum cleaners, etc., which compatriots enthusiastically swept from the store shelves, have already risen, so it's too late to invest cash in household appliances.
6. Today, the peak of deposit rates in banks has been reached
The government is most likely inclined to pursue a tight monetary policy, which gives hope for the relative stability of the ruble. The banking system is unhealthy, and many banks are starting to feel feverish, and some are already collapsing. The state will save the largest and most socially significant banks by carrying out additional capitalization (refinancing). In these conditions, it is possible to recommend choosing one of the most reliable state-owned banks and placing a long-term deposit with the maximum profitability in it.
7. Inflation will unwind, and consumer goods will surely rise in price
When sales of durable goods, even expensive cars, boomed at the end of the year, similar second-hand goods also rose in price. But over time, the new prices will cease to shock, and trade will revive again. Along with this, the price of used goods will fall, which can now be sold very profitably. Therefore, take advantage of the moment, there is an opportunity to make money on this.
8. Real estate in ruble terms has risen in price before the crisis
When the crisis struck, and the owners needed cash, prices collapsed. Economy-class apartments were at their peak at the end of the year, and expensive real estate is selling very poorly. Renting out premises is becoming more and more difficult. It is currently possible to buy real estate, but in another six months the prices will fall by 30 percent. The chances of getting discounts from the owners of cash are especially great.
Debt in an environment where you cannot be sure of stable income is not the most fun thing. Anyway, wait for the banks to set a new mortgage rate.
10. Accounts in foreign banks
The political situation is developing in such a way that there is no certainty that the accounts, even in Swiss banks, are absolutely reliable. Offshores today are also not the best option, since both the Russian authorities and Western sanctions put pressure on their owners. The requirements for the legality of money and for the purity of taxation are becoming more and more stringent. Experts call this phenomenon "discrimination of offshore companies" and measure it a period of one to two years.
11. Investing in a crisis can be both super successful and extremely unsuccessful way to save money.
With a well-formed portfolio and a sound investment strategy that takes all risks into account, return on investment will make you feel confident. It is necessary to carefully select not only the assets in the portfolio, but also the place of their storage, and the intermediary in the auction.
12. Domestic securities in the eyes of foreign investors represent a concentration of political risks. On the one hand, there are great opportunities, especially with stock and bond prices. Russian shares fell 45-65% and may continue to fall further. But it will not be possible to sell them profitably soon, and this must be taken into account.
13. Precious metals
Now gold is getting cheaper all over the world, so it cannot be considered a good way to earn money in the short term. If you have money that you can live without for a long time, this way of saving is reliable. Gold will be in demand when the dollar wobbles or the global economic crisis becomes real. Economists predict this, but so far there are no real prerequisites for this.
Everyone ends someday. For now, we will have to live in the prevailing circumstances beyond our control, continuing to work and plan for the future in new conditions. No matter what happens, we will bring up children, educate them, buy housing - in a word, life will go on as usual. Make a personal financial plan and stick to it, make money, invest and save it to feel as confident as possible. In difficult times, your actions should be especially balanced and thoughtful.
