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Post by me on Nov 24, 2004 20:22:49 GMT -5
Speculation isn't something i'd suggest. you can get burned doing that. - d You might want to stock up on some Euros if you are worried about the US dollar dropping more.
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Post by megamay79 on Nov 26, 2004 9:34:10 GMT -5
dont know why some of these computers in internet cafes wont let me stay logged in as me oh well lynn: I would say, start saving as much as you can because it is going to make a big difference unless something changes to turn this continually weakening dollar around. I found it easier to make my budget in euros because all the prices were in euros not dollars for hotels and stuff. And to give you some idea, I made a budget of 100 euros a day for my husband and me, and that has been pretty much fine for us. But even since we started this trip it has changed. When we started, that 100 euros cost me about $122, now it costs me somewhere around what $133!! So basically I had to up my budget by $10 a day so far, well multiply that by like 30 days and we are talking $300 more that I need. Ugh, sorry just venting a little here, we are sitting here in madrid lamenting that we couldnt have travelled a year ago or two even when the dollar was stronger. Anyway, the moral of the story is, the more money you have the better. And you dont know what the exchange rate is going to be, so hope for the best, but plan for the worst. Save every cent you can now and if the rate gets better, hey you just have more money. and if it gets worse, then you just have to deal with it the best you can. Meg
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Post by Libby on Nov 26, 2004 14:36:18 GMT -5
David, I agree, I could get burned and maybe I already have to a degree (the Pound has dropped even since I bought), but I'm willing to accept that. When I started planning this trip the Pound was trading at 2.44 to 1 Canadian dollar and I had budgeted at 2.50 on the dollar. Since then it's dropped to where it is trading at 2.26 today. I am more than comfortable buying at this price and if it dropped a bit more fine...if it goes up, I'll be happy having so much saved. And that is what I'm doing....saving more than trying to beat the markets. I plan on buying some more pounds next week.
I really like the advice Meg gave you Lynn, budget in the currency you will be using when you get there. It makes things alot easier.
Meg...hope you and your husband are having a great time! I'd love to be in Madrid lamenting too ;D
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