Ask MetaFilter questions tagged with dollar

USD to EUR/Spanish Debit Cards

PaulingL — Wed, 09 Sep 2009 05:51:53 -0800

LivingAbroadFilter: What can I, in particular, do to avoid conversion fees from USD to EUR? I am currently living in Spain. I will be returning to the states as of summer 2010. All my money is in American banks.

Is there something I can do to avoid fees? If not, what would be the best solution so as to keep them to a minimum?

Extra Questions

I have an online ING Direct account, with one of my banks attached to it. 1. Could I withdraw money from the ING location that is near where I am now?

2. Could I open a Spanish account, and use the online ING account to transfer funds between the two? I would like to get a Spanish Debit card.

Thanks!

Where to exchange dollars and euros?

meantime — Tue, 25 Aug 2009 11:34:02 -0800

Where to exchange euros for dollars? Where are the best places to exchange euros for dollars - either in Europe or in America?

I know about xe.com and they seem pretty good, but I've found a few local exchange shops in Prague, for example, that change Czech Koruna to either Dollars or Euros for better than XE or banks. The same was true in Singapore.

I havent been able to find a similar location that offers Euro-Dollar exchanges for good rates on either side of the pond.

Can anyone help?

dolla dolla bill y'all

kidsleepy — Tue, 30 Jun 2009 07:38:20 -0800

What's actually worth it to buy from a dollar store? While on the successful hunt for some pool noodles from my local dollar store, I noticed there is a LOT of stuff to be found in there. Some of it is obviously cheap and sub-par, but I found some surprisingly nice glassware and some decent wrapping paper. My question is: what do you regularly buy from a dollar store? Are the cleaning products just as good as name brand? How about the toothpaste? Any products you've learned to avoid (I don't think I'd buy the underwear.)?

What was a million francs worth in 1953?

b1tr0t — Sun, 31 May 2009 20:01:04 -0800

Where can I find old historical exchange rates? Right now I'm looking for the crosses between British Pounds, US Dollars and French Francs in the mid-1950s. Monthly or yearly exchange rates would be fine. Bonus points if you can find currency data that goes back more than 50 years.

I'm reading Casino Royale (which is surprisingly good, by the way) and trying to get a handle on the cash figures being thrown around.

Is the Zimbabwe govornment still printing 100 Trillion Dollar notes?

dent8101 — Tue, 19 May 2009 05:34:57 -0800

Is the Zimbabwe govornment still printing 100 Trillion Dollar notes? I looked in Google for a while and cant seem to find a definitive answer. thanks everyone.

Why does the $ go before ($9.99) and ¢ behind (99¢) the number?

mrunderhill — Mon, 04 May 2009 15:19:56 -0800

Why does the $ go before ($9.99) and ¢ behind (99¢) the number?

I'm having a financial existentialist crisis

MrMulan — Wed, 11 Feb 2009 09:36:19 -0800

Have I been wrong on my financial core beliefs? I have had a worldview when comes to finances for over 15 years that I am now questioning.

1. I believed 8-12% return on your money over the long term was reasonable, conservative, and realistic.
2. I believed in No-load mutual funds.
3. I believed in dollar cost averaging.
4. I believed Technical Analysis does not work.
5. I believed in A Random Walk Down Wall Street.

First there was this segment from NPR(of all places!) that blew my mind: Technical Analysis actually works (at least for oil)
Then this article from Slate on Suzy Orman. The article disses No-load, and Dollar-Cost Averaging without any references.

Was NPR sinking to a major network level of reporting? Or does TA really work?
What is the mounting evidence against No-loads as part of a passive, long term strategy?

There is no other choice for me but to be an optimist for the long term health and prosperity of our country and by proxy, the stock market. Else, the best thing to do would be to stock up and canned food and guns, and that really isn't a nice way for me to live.
Why then is Dollar-cost averaging bad, if you are doing it in mutual funds, and doing it for the long term?

There are many books out know calling into question A Random Walk Down Wall Street. Is there any truth to them?

oh my should I put my money in a mattress?

borkingchikapa — Mon, 15 Dec 2008 07:29:53 -0800

I'm moving overseas from the US in less than a year, and my stellar powers of observation tell me that there's a good chance the dollar is going to eat shit before then. My savings are <$10,000, what can I do with them to ensure that I'm not cursing the economy when I leave? Is putting it in foreign currency enough, or is there a better option? How do I do that? I know we're probably not talking about anything catastrophic here (though maybe!), but I've had the dollar devalue on me before and it sucks even when it's a fraction of a percent. I have everything in a money market account now, which I like because I'm earning some interest but all of my money is still easily accessible. I'm not looking for some long-term investment solution, I just want to make sure I have roughly the same amount of money I put in there at the end of next year.

$ to £ Currency Exchange For Basic Trip

c0nsumer — Wed, 05 Nov 2008 14:23:03 -0800

I'm taking a standard week-ish trip to the UK soon and I'm (obviously) going to need some cash for traveling. What's the best way to get US Dollars converted into British Pounds? There are a few currency conversion options available to me:

- Generic currency exchange at Detroit Metro Airport (DTW). Convenient, but likely has fees and a poor rate.
- Travelex exchange at Gatwick. Probably has a better rate than at DTW, but likely won't be very good. Also, unknown fees (I can't find a schedule online).
- Grab cash from an ATM in the UK. Likely has a good exchange rate, but incurs a 3% fee from the bank (Fifth Third).

In the past I've just converted a few hundred dollars to pounds sterling at Travelex, but I'm not sure if this is the best plan. I had no British currency until I was actually in the airport, but the rate was decent and I was informed that I'd converted enough that buy-back would happen at the same rate, should I need it. Cash beyond this was just withdrawn from ATMs.

Does this sound like the best plan, or is there something else which you would suggest that I try?

I would use a credit card more often there, but all of my cards lack the chips which seem to be required these days. I've been told that many locations no longer have the ability to swipe magstripe cards.

Swiss bank accounts 101, or something different?

xanthippe — Tue, 07 Oct 2008 01:56:54 -0800

Where should I keep my money (to protect it from the US economy)? I'm American and it's in US$, but I don't live there and don't have any good reason to keep it there. I don't have that much, but am about to receive an inheritance, which is why this is an issue. Let's say that about half of what I receive will be in either cash or liquid assets, and half will be in Beneficial IRAs (the amounts are significant to me, but probably wouldn't make an international financial planner/accountant blink).

We all know about the US economy. The relative value of the dollar is decreasing, we can count on some inflation, the stock market, etc. etc. I plan on either investing or saving most of my money, but I am unlikely to ever use it in the US (I'm actually thinking about buying a flat in Europe as an investment right now). I may use a small chunk of it for some traveling/living expenses in the near future, and would generally prefer to have all of it secure but accessible and earning some income.

I realize that selling securities/investments/etc. that are part of the portfolios these assets consist of (some of the liquid assets and some of the IRA) will lock in my losses now; however, I'm also concerned that, even if the value recovers over time, the long-term depreciation of the dollar and the effect of inflation may negate any rebound. Is there any real advantage to not moving these assets out of the US (i.e. out of US banks, the US investment market, etc.) right away?

If I do move my money abroad, how should I actually do this? What are the logistics? And where to: Swiss bank account? Investments? What currency should I go with? I may have the option to invest the assets of the Beneficial IRA in foreign markets; should I think about this, or just cash them out, take the penalty, and run with the cash? If I can invest the contents of the IRA internationally, does that really preserve it from the US market?

I currently live, work and have a bank account in Oman; the local currency (as in most GCC states) is pegged to the US dollar. There has been lots of talk about unpegging the currencies, or re-pegging them to the Euro (Kuwait already unpegged theirs). I'm no economist, but things seem pretty stable locally, and it seems to me that if I exchanged all my dollars for Omani rials while they are still pegged - i.e. the value of the dollar has not decreased against the rial as it has against every other world currency that is not pegged to it - that I could stand to benefit immensely from this transaction by either maintaining the value of my money in rials if the currencies are unpegged while the dollar drops, or even seeing it increase for the same reason. Is this foolish or a good opportunity?

I don't have a long-term commitment to Oman, however - it's just where I happen to be living right now. I don't have a long-term commitment to any place, and specifically not to the US (despite my citizenship). I'm essentially a nomad (though I may well stay where I am forever - only time will tell). So the real question is, for the long-term, where should I make my "financial home" - where should I maintain my savings and investments not knowing where I will be living for the foreseeable future? How can I educate myself about this?

I don't know what to ask more specifically because I have never had to deal with finances in excess of a few thousand dollars before, so any advice as to where to start and how to prepare myself for this kind of decision-making will be appreciated. I need to 1) protect my money from the US economy (maintain as much of its value as possible regardless of where it is invested/what currency it is denominated in); 2) make money if possible by investing/earning interest; 3) ensure that I am not vulnerable to taxation/residency or citizenship requirements for any country I keep my accounts in/maintain my investments from.

Is eating a dollar burger from burger king and a cup of water healthier then not eating?

Nighthawk3729 — Tue, 30 Sep 2008 12:03:15 -0800

Is eating a dollar burger from burger king and a cup of water healthier then not eating? I've heard the best way to eat is by having 6 small meals a day. Sometimes I eat an apple, a yogurt, some carrots, maybe snack on a bag of chips. When I was coming home yesterday, I thought about getting a whopper junior and a cup of water. I usually have one if I'm going to be going out for a bit, just to tide me over, but this time I would be home in an hour and maybe eating again within another.

But I wonder, is it healthier to eat a dollar burger [it is protein with a dash of vegetables and bread] and maintain the 6 meal a day ideal, or is it that unhealthy. I don't usually eat fast food, but for a quick fix, is it healthier?

Help a UK company pay me!

bitter-girl.com — Sun, 07 Sep 2008 13:15:54 -0800

Freelance-to-perm work for a UK company -- how can I get paid for the least amount of fees and hassle? More background: I have been offered a guest editorship at a UK-based magazine, which will likely turn into a FT position. I am in the US. The company is very small, so no HR people to handle questions like these.

I know my bank charges at least $20 for incoming wire transfers (which I imagine would be the only way to do a direct deposit from there, assuming no additional expense of changing currency along the way). Using PayPal -- which the company does for other transactions -- would probably take at least three times that out of each month's salary in fees. Are there other options?

Might it be in my favor to open an account with a UK-based bank or US bank/financial institution with a presence in the UK and just use the credit/debit card associated with the account instead of putting it straight into my US bank account? (I would count brokerage firm accounts here -- I used to have an account with Smith Barney that had checkwriting and debit card privileges, and their parent company Citigroup has a presence abroad)

Any other ideas? Thank you!

Anywhere American Airline Flies

26.2 — Mon, 18 Aug 2008 10:41:07 -0800

Where to travel with the follow criteria: expensive flight, strong dollar, late fall or winter trip, and under a week to visit. I have gobs of American Airlines miles that I need to burn by February. Where can we go to maximize the value of our flight?

About Us: Mr. 26.2 and I are both seasoned travelers and have been to most of the typical spots in Europe and Mexico, but I'd love suggestions for places there if the dollar is strong. We like art museums, libraries, theater and hiking. We can enjoy touristy stuff, but prefer to have a more authentic experience. We like to relax with locals - a picnic in the park is fine by us. I'd love a place where we would not have to rent a car.

We're late thirties, no kids. He's fluent in Spanish. I can understand basic French and Italian, but have trouble responding quickly.

This should be a relaxing trip, because we've had a stressful couple of months. I'd like to skip the more stressful/sketchy destinations this trip, but I also don't want to safely tucked away into a Club Med resort either.

What can I buy on the internet for one dollar?

TheArpenter — Tue, 05 Aug 2008 19:24:39 -0800

What can I buy on the internet for a dollar? I am looking for sites like www.eyeslipsface.com, where (almost) everything costs one dollar. Are there any other sites out there that have products that only cost one dollar?

Dollar Coin Conundrum

gimonca — Thu, 24 Jul 2008 16:18:33 -0800

Convenient way to get dollar coins outside of a bank? So I used to have this habit of buying stamp booklets from the vending machine at the post office, and keeping the dollar coins you'd get in change. (Most of the dollar coins went into the change cubby in the car to pay parking meters and automated ramp kiosks.)

Now I'm out again. I go to the post office to find out all the post office vending machines around here have been replaced with cashless ones that only accept credit/debit cards. Other than standing in line at a bank teller window that may or may not have dollar coins, is there any way for me to get dollar coins relatively conveniently in my daily routine?

(Twin Cities, MN, if you have local recommendations.)

Isn't the cost of living different there?

that girl — Fri, 30 May 2008 09:02:51 -0800

Why are salaries in different nations stated in their US dollar equivalents in news programs? Are there any news programs or websites that show relative purchasing power in different countries? On the NBC nightly news last night, one story discussed how Iraqi widows were getting $41 a month government pension (when they could get it). However, I have no idea what that really means, because I don't know what anything costs in Iraq. Dollar values in these sorts of stories seem to be used for their shock values, of "Oh, look how little they're getting!" but I get the impression sometimes that this is not really the case, and going by the cost-of-living where they are, they are making more than enough money to even be able to provide for their extended families.

Does something like the Consumer Price Index exist for every country, and if not, what could I use to estimate how far $100 would go in a variety of developed/developing/3rd world nations?

What should a European do with this American savings account that is depreciating in value?

Anonymous — Mon, 21 Apr 2008 08:42:23 -0800

European who has USD in an American account - what should I do? I'm European, but lived in the US for a little while, where I had a very good paying job that allowed me to save money. I have a little over $10,000 in an American CD now. I came home to Europe and went back to school, thinking I could use that money to start up a business, make a downpayment on an apartment or something once I gradutae.

I have been watching in horror as the dollar went down against the euro and now that money I was counting on is shrinking away. Are there any suggestions on what I should do with it? Should I just leave it and wait for the dollar to recover? Should I buy something in the US that is likely to appreciate in value? If I had a good income now, I would buy an American apartment or something with it, but I'm a student living from paycheque to paycheque.

What should I do?

finance proz

goldism — Fri, 18 Apr 2008 09:12:53 -0800

Short-term investments question: In your opinion, what stable foreign currency should I invest my money? I am new to investing and was looking for some other opinions\ideas on which currency to convert my money into today and convert back to the US dollar, in say...6 months.

Best way to replace a torn Canadian $20 bill?

chudmonkey — Wed, 09 Apr 2008 16:25:03 -0800

Where can I find guidelines for the usability of torn/ripped Canadian currency? What should I do with this specific $20 bill? I got a torn $20 from an ATM. I called the ATM company and I have the option of mailing them the bill and getting a credit. But I'm wondering if that's my only option. I don't mind standing in line at a local bank to get a replacement bill, but I don't want to stand in line at a bank to find out if I can get one or not.

Here's the specific bill I got. You can see it's missing about 20% of its width.

I have to say I'm stymied trying to answer this for myself using the 'net. I can't find any Canadian government/bank guidelines and the only reference I have is a 15-year-old memory of a Street Cents episode that seemed to indicate that banks will exchange torn currency for a percentage value based on remaining surface area. A friend is insistent that if the bill has both serial numbers, it's still usable, but my friend has no expertise or reliable knowledge of this topic.

You help will be greatly appreciated.

What's the safest possible thing that I can do with my money?

Afroblanco — Thu, 20 Mar 2008 12:18:24 -0800

What's the safest possible thing that I can do with my money? Anyone who's seen me around the finance threads knows that I take bearishness to an extreme. Having witnessed the 2000 tech crash, I have no faith in the stock market or the US economy. I keep all of my money (USD) in a savings account. However, with the recent financial turmoil, I have a few questions :

1) Is it conceivable for the FDIC to fail?
2) If so, is there a place where I can put my money that will be safer than a savings account?
3) What's the safest, most risk-free way for me to save money and not get killed by inflation and the tanking US dollar?
4) If there is a safe way for me to save money and not be punished by inflation and the depreciating dollar, is there a way that I can do this without having to stress out and micromanage my finances? I don't want to be checking the finance page and making adjustments every day.

One thing that I must ask of you all - please do not turn this into a political debate. I know that issues of economics are often politically charged, but I ask you to please not address that aspect of the situation. Also, please take it easy on me. Even though I follow finance news, I've never done any investing or money management other than socking money away in my savings account. I'm a n00b, I admit it, so please don't talk down to me.

Any links to relevant articles or informational resources - especially those readable to the layman - will be appreciated.

Thank you.

Is the MasterRental benefit all it's cracked up to be?

mr. creosote — Tue, 18 Mar 2008 11:42:36 -0800

Question about the "MasterRental" rental insurance benefit that most of us have on our MasterCards. I was looking through the MasterRental benefit that came with my credit card and was thinking "joy! now I can decline the costly LDWs when I'm renting a car."

However I got to reading the fine print and saw "coverage is secondary to any other applicable insurance or coverage available to you." So it sounds like what would happen is if I do damage the rental car or the rental place blames me for some ding that I didn't do, MasterRental would tell me to use my own insurance, leaving me holding the bag and having to either pay cash or get a black mark with my insurance company.

Is this the case? Can anyone shed light on this?

Is the money supply contracting, or expanding?

Pastabagel — Mon, 17 Mar 2008 11:39:51 -0800

FinanceFilter: Is the money supply contracting, or expanding, after netting all the Fed action, bank closures, mortgage defaults, etc? The dollar falling seems to signal a net increase of money supply, but this is inconsistent with the thesis of a credit or liquidity crunch. If the money supply is growing at a slower rate due to tighter lending practices, shouldn't the dollar be rising, even in the face of Fed-rate cutting? Do we know the net expansion or contraction of the money supply due to the combination of rate cuts and mortgage defaults? I understand that Fed rate cuts have the effect of increasing the money supply. I understand that lower rates lower the value of the dollar, because it puts more dollars into existence tomorrow than existed today, i.e. given a constant demand, the increase of supply lowers the price.

The housing boom that peaked in 2005 involved people borrowing money to buy houses that it turns out they could not afford. This borrowing of money expanded the money supply back then. I understand that as people defaulted on their mortgages, the money supply didn't recontract (as the money that was created was spent on the house and put into the system). But as the dominoes fell, and first the mortgage companies, then regional and national banks, then CDO-holding brokerages and hedge funds were hit and stopped lending out, there should have been an attendant lack of money (from mtge payments, etc.) to lend out to future borrowers. So the money supply in the future should be smaller than we expected it to be last year. Shouldn't this cause the dollar to rise (or fall slower)?

In other words, given the 2005-2006 money supply and interest rates, the dollar had a price. But given future lending trends, the money supply growth should be slower, which other things being equal should increase the value of the dollar, right?

Is it possible that the Fed knows quantitatively the extent of the default/CDO worthlessness problem (and future money supply contraction), and isn't revealing publicly what it knows? If so, wouldn't this mean that when the Fed cuts rates, we don't hear about the amount of the money supply contraction that the Fed's inflationary move is supposed to offset, we only hear about the inflationary part of it and conclude therefrom that the money supply is growing too fast?

How do I invest in Euros?

pikaboy202 — Tue, 04 Mar 2008 20:36:33 -0800

Are there any financial institutions available in the US to buy Euros as a hedge against the falling dollar? As we all know, the value of the Dollar is falling and money in the bank is free-falling due to both the falling dollar and inflation. In a way to hedge against the falling dollar, I thought it might be possible to save in Euros or even the Chinese Yuan instead.

Is there any financial institutions are methods to invest in Euros or have a savings accounts entirely in Euros instead of Dollars in the US?

converting dollars to cheese!

mustcatchmooseandsquirrel — Mon, 03 Mar 2008 09:13:32 -0800

I'm going to Europe for at least a year in September. When should I convert my dollars to euros? I know that if I were planning on staying in the US, converting money to different currencies would not be the best course of action. But what about in my specific situation?

I will probably be in France from at least September-June (longer if possible). There, I will only be making ~750 euros/month after taxes so I will want to use money that I have saved for this trip to supplement that. But! I'm worried that something awful will happen in the next six months and my US savings will be worth a more meager sum than they already are. (Am I on the wrong track here? Will the economic stimulus package fix everything?)

Would it be totally foolish to transfer my dollars to euros now? If so, when should I do it instead? (and how?)

How to avoid losing most of my inheritance to Uncle Sam?

Grither — Tue, 26 Feb 2008 10:00:39 -0800

How do I get money (30,000 Euro/$50,000) from Europe to the United States with the least amount of pain? My mother used some money from my grandmother (to be a sort of inheritance for me) to buy a house in France, and she has now sold the house, and wants to give the money to me to do with as I please. We are trying to figure out the best way to get this money to me from Europe without giving most of it to Uncle Sam. It seems like she can gift $12,000USD to me each year without any tax implications for her, but will I get taxed on that? And is there anyway of doing the whole amount in one fell swoop without losing most of the money to taxes?

I have gone through previous questions, and I do not want advice on what to do with the money, as that has been answered many times, I am just looking for some help, ideas, info on how to get the money into the country. Should I be talking to a financial planner, lawyer, or accountant on how to accomplish this, or should I just try to get the money over here without any counsel, and just figure out the tax implications on my own?