Most of us have to do it sometime – even CEOs.
One of the most tedious tasks ever invented.
I mean the filling-in of expenses. Yes, it’s vital if you are going to keep a business on the straight and narrow. But man, is it boring to collect tiny bits of paper, track the dates and costs, and enter them on a sheet in chronological order.
Not that there has been much in the way of business lunches or coffees recently, for obvious ‘lockdown’ reasons. And nothing at all by way of international travel.
But some items – petrol, on-line purchases including new laptop – continue, and for all of them, I naturally pay in gold using my Glint account.
And I have noticed a very pleasing thing.
Since the start of this year, I have had some work-related spending, but the gold on my card has increased in value. How come?
The answer is simple – gold has been on a roll for the past 18 months. It’s up this year by almost 38% against Sterling and 26% against the US dollar. So I bought my £350 laptop using my Glint card in January (I know, I’m very slow at doing my expenses) and now stand to get back £350 but in gold terms the value will be around £400.
This works like a charm. The gold price this week breached a crucial barrier – $2,000 per troy ounce, a new all-time record. Has it got further to go? Goldman Sachs has just raised its 12-month forecast to $2,300 an ounce, a tad conservative compared to Bank of America’s estimate that it will hit $3,000 late in 2021. Maybe I should put off doing my expenses for a while yet and see what other savings I can make?!
But I didn’t establish Glint in the hope of making a quick buck. Glint is all about providing its customers with secure and reliable money – gold. Mind you, it’s nice to see how my laptop got cheaper!
Till next week
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