Travel Tip #8: Work that Currency!

The easiest way to win at currency trading is going to the country with the weak currency. You need to spend money to live, when your living expenses drop because your money is worth more, you win! In fact, you can not lose!

Whole countries take advantage of this. Take Ecuador for example and how they use the dollar. Ecuadorians who's currency is US dollars regularly cross into Colombia to go shopping. But it wasn't always this way.

Colombia lost about 1/3 of it's value against the dollar in 2015. The Ecuadorians were suddenly perceived as wealthier and there to spend money. Everyone especially the Colombians knew it. I recall comments in Spanish "Oh, you have dollars, surely Colombia is cheap for you".

The US dollar is strong right now. Many countries are on sale all over the world. The Thai Baht is about 10% cheaper than all of 2010-2015. Most of Central and South America are great deals too.

In India the dollar buys almost twice as many rupees as ten years ago. Greece, Portugal, and Spain have gotten cheap due to economic crisis combined with a Euro 10% cheaper than a decade ago. Eastern European countries offer incredible exchange rates too.

When traveling, yes it does make sense to go where your money goes the furthest. For long term budget travel this is just another strategy in the tool kit!

Photo credit: dreamsitme.com

Not To be Missed!

World Travel Report: Bali, Indonesia

Travel Eats 1- Koh Phe Ngan, Thailand (Tom Yum Guy)

@heyitshaas Asks: How Can I Travel and Live in Other Countries Without Earning my Money Online? (video)

Real Life Captured on the Streets of Bangkok #5

With over 10 years of travel experience I answer travel and international lifestyle questions. Leave a question in the comments and I may make a video just for you!

H2
H3
H4
3 columns
2 columns
1 column
9 Comments