Monday, February 3, 2014

My Net Worth has taken a nosedive! Yikes!

Workwise December was a really bad month. On top of that the Turkish Stock exchange has been dropping ever since the corruption allegations towards the current Government has surfaced. The USD and Euro skyrocketed against Turkish Liras but alas, my dollar savings are rather small so I did not become rich:)

My retirement account and my individual stock portfolio have been dropping fast. I am just sitting tight and waiting for the bad times pass. They always do, so I do not think there is need for panic. Not yet anyway...

I had already declared this year as my savings year so, I will do my best to sock away every penny (kurus in my case) to build a cushion. 

My friend whom I have loaned some money asked me if I needed my money back and I said no because, when she had loaned me money in the past she never asked me how long it would take me to pay it back. Besides that money was sitting in my savings account anyway. If I had it, I would probably use some of it but since that I do not have access to the money, I had been a lot more careful than I would have been.

I am hoping to find a new tenant hopefully in a couple of months so, with money coming in from my rental, I will have a bit more breathing space. My rental property loan is going to be all paid in May so, after May, I am hoping to divert all my rental income to my retirement account.

Turkish economy is showing signs of weakness. There seems to be a crisis every 7-10 years so, I will just keep saving and spending carefully.

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