Exchange rate???
Jan 21st, 2005, 02:43 PM
#21
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So funny. If I didn't eat at any place that didn't take credit cards, I'd starve to death.
I suspect he meant "ATM card" not credit card in the cash machine, which will give you a slightly better edge than using a credit card, but not that significant in most cases.
I suspect he meant "ATM card" not credit card in the cash machine, which will give you a slightly better edge than using a credit card, but not that significant in most cases.
Jan 21st, 2005, 04:58 PM
#22
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I meant ATM card; mine is a combination ATM-credit-debit issued by my local bank. Works overseas too if I tell them I am going abroad.
I avoid using credit cards because it's easy to get over my head in debt. I know the arguments, pro and con. It's a personal choice.
Why avoid decal-covered places? Easy. They usually cater to Americans or others on the expense account. Basic law of economics: there is no free lunch. Somebody has to pay for those credit card merchant fees -- and it's not going to be me.
I use ATMs because I'm getting close to a wholesale bank rate of exchange. I avoid travelers' checks because they really are a way of borrowing money from me and at the same time charging me for "the privilege." The real nut cases are people who keep a pile of travelers' checks in their dresser drawer "in case we need some money." They haven't a clue when it comes to money management.
I avoid using credit cards because it's easy to get over my head in debt. I know the arguments, pro and con. It's a personal choice.
Why avoid decal-covered places? Easy. They usually cater to Americans or others on the expense account. Basic law of economics: there is no free lunch. Somebody has to pay for those credit card merchant fees -- and it's not going to be me.
I use ATMs because I'm getting close to a wholesale bank rate of exchange. I avoid travelers' checks because they really are a way of borrowing money from me and at the same time charging me for "the privilege." The real nut cases are people who keep a pile of travelers' checks in their dresser drawer "in case we need some money." They haven't a clue when it comes to money management.
Jan 21st, 2005, 05:05 PM
#23
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Just can't help wondering how a reasonable person decides that one's own decision is a 'personal choice' but another person's decision means he is a nut case.
Anyway avad, I hope you go. You can go for a day or two less, or buy bread and cheese for lunch, or eat Spaghettios for a week after you get home, but do go!
Anyway avad, I hope you go. You can go for a day or two less, or buy bread and cheese for lunch, or eat Spaghettios for a week after you get home, but do go!
Jan 21st, 2005, 05:15 PM
#25
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Avad, I sure understand your hesitation. Being retired means no doubt your income will probably not go up as prices in US do.
And one sure wants to make sure they have enough money to last a lifetime.
And if going is going to cause you stress because you are spending money you cannot afford to then IMHO the trip is not worth it.
But, if you can afford to go then the suggestions on ways to not overspend are good. I agree with all the other posters I don't think the exchange rate will be any better next year. And I am not an economist but I would imagine the prices in 2006 in Europe will no doubt be higher also.
And if you are in good health now, well that is something to consider.
One way to cut down on travel expenses is to not shop. And maybe you don't anyway. But I have noticed friends that after returning from Europe complain about the cost but then show me all the purchases they bought (and really did not need).
May you make the decision that is the best for you two, and if you do go, have a beautiful trip.
And one sure wants to make sure they have enough money to last a lifetime.
And if going is going to cause you stress because you are spending money you cannot afford to then IMHO the trip is not worth it.
But, if you can afford to go then the suggestions on ways to not overspend are good. I agree with all the other posters I don't think the exchange rate will be any better next year. And I am not an economist but I would imagine the prices in 2006 in Europe will no doubt be higher also.
And if you are in good health now, well that is something to consider.
One way to cut down on travel expenses is to not shop. And maybe you don't anyway. But I have noticed friends that after returning from Europe complain about the cost but then show me all the purchases they bought (and really did not need).
May you make the decision that is the best for you two, and if you do go, have a beautiful trip.
Jan 21st, 2005, 05:16 PM
#26
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No Patrick, I think he meant what he said. He didn't just say don't use credit cards; he said don't eat at restaurants with credit card decals implying he was referring to a bygone era when only establishments aimed at the rich took credit cards.
The fact of the matter is that almost every establishment takes credit cards today including, for example, the branch of Pret a Manger a block from Leicester Square, the grocery chains such as Tesco Express where you can run in and get a quick sandwich or pre packaged salad and soft drink, many branches of McD'S. As a matter of fact, the conventional wisdom is to use credit cards everywhere they are accepted and for however little they are accepted for. That means less use of cash; especially if you don't have an ATM card (hard to comprehend anybody travelling in the 21st century without one but there are still people who don't want to embrace 21st century technology) and get yourself ripped off big time by exchanging cash.
The fact of the matter is that almost every establishment takes credit cards today including, for example, the branch of Pret a Manger a block from Leicester Square, the grocery chains such as Tesco Express where you can run in and get a quick sandwich or pre packaged salad and soft drink, many branches of McD'S. As a matter of fact, the conventional wisdom is to use credit cards everywhere they are accepted and for however little they are accepted for. That means less use of cash; especially if you don't have an ATM card (hard to comprehend anybody travelling in the 21st century without one but there are still people who don't want to embrace 21st century technology) and get yourself ripped off big time by exchanging cash.
Jan 21st, 2005, 05:23 PM
#27
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USNR...
Read your later clarification after I posted...but disagree in all due respect about credit card decaled places just catering to Americans. It's kind of a silly statement, again IMHOl, implying Brits and others do not use credit cards the same way they are used by Americans and quite frankly that is simply not true.
And as I said you will be very hard pressed unless you go to a place such as Stockpot (whose food is okay BTW and I have nothing against eating there) which is one of the very very few places I can think of that doesn't have credit card decals all over the window!
Regards...
Read your later clarification after I posted...but disagree in all due respect about credit card decaled places just catering to Americans. It's kind of a silly statement, again IMHOl, implying Brits and others do not use credit cards the same way they are used by Americans and quite frankly that is simply not true.
And as I said you will be very hard pressed unless you go to a place such as Stockpot (whose food is okay BTW and I have nothing against eating there) which is one of the very very few places I can think of that doesn't have credit card decals all over the window!
Regards...
Jan 21st, 2005, 06:27 PM
#29
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I imagine that renting a car for two weeks is an expensive proposition. Maybe there's a way you can combine car travel with train travel (also expensive in the UK, alas). The UK now has bus services which are following the low-cost flight model, and offered 1-pound fares between major cities. Maybe you can take low-cost flights between cities. Post the places you want to see and maybe some posters can make suggestions.
On previous trips I looked into things like buying passes and tickets ahead of time, but often they're more expensive purchased that way and you have to pay shipping too. Just because it's US dollars doesn't make it cheaper. I'm sure there are exceptions.
I have eaten at small, ethnic places in London that refused to take credit cards, but even these had logos. They just had rules like no CCs under 15 pounds, or our CC machine is broken, etc.
On previous trips I looked into things like buying passes and tickets ahead of time, but often they're more expensive purchased that way and you have to pay shipping too. Just because it's US dollars doesn't make it cheaper. I'm sure there are exceptions.
I have eaten at small, ethnic places in London that refused to take credit cards, but even these had logos. They just had rules like no CCs under 15 pounds, or our CC machine is broken, etc.
Jan 21st, 2005, 07:04 PM
#30
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I once had a restaurant owner pull the our credit card machine is broken bs on me in London and my response was I don't have the cash and suddenly they found the old fashioned cc imprinter and ran the charge...
Jan 22nd, 2005, 02:07 AM
#31
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Virtually every place in Britain will now take credit/debit/charge-cards. I can't imagine how one would cope without such facilities.
Does one really want to carry around thousands of pounds in cash with them? Places don't take large cheques anymore, so a card is the only way to pay for items.
Does one really want to carry around thousands of pounds in cash with them? Places don't take large cheques anymore, so a card is the only way to pay for items.
Jan 22nd, 2005, 02:47 AM
#32
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>Does one really want to carry around thousands of pounds in cash with them?<
Reminds of a day I was at Harrods for their Summer sale.
There was a line of about 30 men of Middle Eastern aspect, each with 3 or 4 women companions, who were paying cash. These guys had stacks of 100 GBP notes.
Reminds of a day I was at Harrods for their Summer sale.
There was a line of about 30 men of Middle Eastern aspect, each with 3 or 4 women companions, who were paying cash. These guys had stacks of 100 GBP notes.
Jan 22nd, 2005, 05:20 AM
#33
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As for the original question...
<Any insight as to the high exchange rate in Europe?>
Presumably it's the "exchange rate" in the United States (i.e., dollars required to buy pounds sterling) that really concerns you - - since that is but one component of "the exchange rate in Europe" - - that is, how many yen, rubles, rupees or rand to buy pounds sterling, or euros, for that matter.
And the value of our dollar is directly related to how much "stuff" do we make in the US that others want to buy versus how much stuff do we want from others that come from outside the US.
I would not postpone.
Best wishes,
Rex
<Any insight as to the high exchange rate in Europe?>
Presumably it's the "exchange rate" in the United States (i.e., dollars required to buy pounds sterling) that really concerns you - - since that is but one component of "the exchange rate in Europe" - - that is, how many yen, rubles, rupees or rand to buy pounds sterling, or euros, for that matter.
And the value of our dollar is directly related to how much "stuff" do we make in the US that others want to buy versus how much stuff do we want from others that come from outside the US.
I would not postpone.
Best wishes,
Rex
Jan 22nd, 2005, 10:06 AM
#34
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If you health is good, travel now. We always use master card as much as possible and get excellent exchange rates. We pay the card off when we get home. If you are really concerned about the weak dollar, consider going to SE Asia. Last year we went to Singapore, Vietnam, Thailand, and Myanmar. Except for Singapore, it was a very inexpensive month long trip. In London, we walked alot... spent some time at our favorite pub, Churchill Arms (which also has a great Thai Restaurant attached) and always paid our tab with good old MC. The idea is to have fun and not be consumed with the high prices.
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