Set up a US Dollar bank account

Guest blogger –  Rohen Burton, Chief Financial Officer, Fit n Fast

If you purchase from overseas suppliers (for example the US) consider setting up a Foreign Currency bank account.  And plan to buy some currency when the rates are favourable.  Don’t exchange more than you need and make sure your AUD cash flow can handle having this amount off sitting in another account. During 2011 there was an opportunity of saving over 5% just on exchange rates alone if they were booked at the right opportunities.

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1. 31 Day Cash Flow Challenge Day #13 – Invest spare cash in a high interest account
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3. 31 Day Cash Flow Challenge – Weekly Review – Days #8 to 14