In what currency to keep money and what to invest it in
The consequences of the war had a global impact on the economy of the whole world. High inflation and a recession accompanied the beginning of 2023, affecting the structure of personal finances and investments, and provoking a crisis.

The dollar exchange rate has grown strongly and frequently changed in 2022. In the new year, the rate is laid down in the state budget at the level of UAH 42.2. with devaluation to UAH 45.8. Due to ongoing hostilities, the devaluation of the hryvnia may continue.

What to do with savings and how to properly store currency, read further in this article.
In what currency to keep savings
Experts say that if you want to be protected from exchange rate fluctuations, revaluation, or devaluation, it is better to keep money in equal parts in two or three currencies. For example, in dollars, euros, and hryvnia.

Selling currency is advised in case of emergency.
What to expect from the dollar in 2023
The strengthening of the dollar is mainly due to higher lending rates in the US, which is partly explained by the weakness of the euro. For most of 2022, the US dollar has been more expensive in contrast to other major currencies. From a low in mid-January to a peak in September, the US dollar index rose almost 22% compared to the ambiguous decline in stocks and bonds.

Many experts argue that the rate will rise. The following factors may affect the stabilization of the dollar:
end of the war by mid-2023;
investment of money from foreign partners on a regularly scheduled basis;
maintaining the introduced currency restrictions by the National Bank.
A weaker dollar could complicate an already uncertain inflation outlook.
Where to invest savings
Among a large number of opportunities and options, it is quite difficult to choose the earliest way to invest money. For investments, each step, risk probability, time frame, general knowledge and experience, financial position, and importance – the amount that a person is willing to put up.

If you want to increase your passive income, then you can turn to two investment options:
Less risky. In this case, the profit will be small, but stable.
Riskier. This option includes unstable markets, such as cryptocurrency. You invest more, having the opportunity to receive a large income, but at the same time taking on a large risk.
More often than not, investors choose a compromise between risk and return, balancing their approach to investing, while still giving themselves the opportunity for long-term growth.

In the coming year, it is necessary to invest in assets that can provide increased returns in the long term. It should be noted that real estate is now a dangerous option due to the hostilities in Ukraine.

The cryptocurrency market is also a risky platform – there have been several major bankruptcies of major crypto companies in recent times. The decline in interest in cryptocurrency is associated with the crisis state of this asset.

Fixed income instruments, the most common type of which are bonds, are one of the key recommendations of financiers. These securities provide stability and income over time, making them a good choice for many people. Bonds are a type of debt security that provides investors with a fixed rate of return over a specified period. They are considered less risky than equities but usually provide lower returns.

If you are looking for investments that generate income with a relatively low level of risk and do not require much manual management, then consider investing in mutual funds.

Mutual funds pool the money of several investors and use the investments to buy shares or other securities. The goal of equity mutual funds is to increase the value of their investments over time, resulting in higher returns for investors.

Gold has always been considered an effective store of value. Currency devaluations and inflation can cause your money to depreciate, but gold retains its value regardless of economic conditions.
How to get extra money
If you do not have the opportunity to invest or receive additional income, you can turn to:
Deposit contributions. Having even a small amount, you can create a hryvnia deposit – this will help save money and get interested.
Loans or installments. The installment plan will reduce the financial burden if you are looking for a large purchase. At the same time, this option is not available in all banks.
Assess your financial situation and all risks before borrowing or investing money.