How much cash is it good to deal with Middle East wars?💰🛡️
🚨 from the war in the Middle East that began to prolong and the closure of the Strait of Hormuz in Iran, controlling the oil shipment there, where more than 20% of the world's oil goes through this channel, especially the oil-dependent Asian zone from here. Let's see what the impact Thailand will have. How do we prepare? 💵😱
🚢🇹🇭 Thai, where to import oil from? 🤔
Although the war in the Middle East was very far from Thailand, it was a very close impact, the oil we use every day, because Thailand imports more than half of its domestic consumption from Kuwait, UAE, Saudi Arabia, where it transports oil from these countries through the Strait of Hormuz.
🛢️ impact on Thailand 🇹🇭💣
When transportation is restricted, it will begin to affect Thai oil reserves that have to be used and price strained. If the government is out of price strains like diesel, the main oil used in transportation, when the oil is more expensive, the source of transportation of materials increases, the price of food will increase as the cost of living increases, the travel will cost more.
⚔️ how to cope? 💰❓
1️⃣ The main way to prepare for this situation may not be to invest, but to collect cash reserves. Basically, we should have 3 months or more in reserve for working age. But in this cycle, this reserve may need 3-6 months, and it may be used if the situation worsens. This reserve is based on our salary X with a number of months, such as 27000 X 3, it will be 81000, it will be our emergency money.
2️⃣ Keep cash in the right place. That is, keep cash available and get high interest at the same time. The ideal way would be e-Savings to get high interest, no regular deposits, and high liquidity withdrawn at any time.
3️⃣ Save more. How to save quite a lot of expenses, so we will share in our corner. Mainly saving will be to stop traveling far away because spending a lot of money. Saturday-Sunday, go back to eat at home, do not buy luxuries before, etc. But most importantly, do not incur debt, such as credit cards, loans, because it will create a burden to pay in the long term for us.
🙋♂️, how many months have everyone saved money and money? How to manage this part of the cash? Let's share it.
🧑💻, we are now still tense for a little 3 months, but lately we may buy less stock, focus on the situation, before gradually deciding to put cash in the e-Savings at an emergency. 🚨
❗️ investment is risky. The information should be studied before making an investment decision. ❗️
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