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Islandbuilder
Senior Nomad
Posts: 555
Registered: 11-9-2011
Location: nob
Member Is Offline
Mood: bewildered
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I usually make as many pre-paid reservations as possible; rental car (if we're flying down), hotels, insurance etc. Then plan on using the credit card
for large purchases (if any) and save cash for buying fuel, food and incidentals. There are certainly places where a credit card is useless.
Ged's point is sound ( as a looney, at least), it is respectful to use the currency of the land, especially in a small taco place where having a hand
full of dollars may pose a problem.
I like using pesos when getting fuel, it helps me feel more confident that I'm not paying way more for gas than I should be.
That's not a reflection on the gas station guys, it's a reflection on my inability to do that much math in my head on the fly.
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David K
Honored Nomad
Posts: 65100
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Hi Baja Vida... are you and the gang heading south to La Gringa again? I miss seeing you and also 'thebajarunner' posting here! I hope you guys have
had lots of work up in the valley!
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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Understanding the “real and actual” affect of finance is something that escapes most all people most all of the time. It is actually complicated, and
that which is unknowingly misunderstood is also an “unknown”. More often than not, it is the “unknown” that will hurt you in the long run.
If you simply use USD, most all Mexican establishments that take your USD will give you really bad exchange rates. Annualized, that calculates to
1,000% to 3,000% exchange rate “interest expense” cost!
Not a big deal on a cost of funds loss for small amounts of money, say a 4 day trip once a year that cost you $600 USD total. But if you are spending
a lot more time in Baja that that, say a month or more per year and you are spending more than several thousands of USD per year, it is irrational and
hurting you to not to maximize your exchange rate, whether you “notice” it or not.
If you use USD only in Baja, you most likely do not have visibility of the cost of money you are actually incurring. It is sort of like getting
short-changed by the cashier every time you pay cash for something at a store. How often would you stand for that?
Some people have a great deal of money, most do not. If you have a bunch of money and it is too much trouble to “penny pinch” over exchange rates,
great. That’s a good thing for the economy as wealth through commerce will therefore tend to redistribute from the wealthier to the less wealthy and
I am all for that.
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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WOW! Much ado about nothing AGAIN!
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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| Quote: | Originally posted by BajaGringo
| Quote: | Originally posted by DENNIS
Whichever is more convenient unless you need a massive amount of Pesos. Then it would probably pay to do the math.
Don't sweat the small stuff.  |
Ain't that the truth. I had to talk some sense into a friend awhile back who spent almost an hour driving around San Ysidro to find the best exchange
rate. After I explained to him that he spent more in gas driving around than the difference in pesos he would get for his $300USD we shared a good
laugh together.
It reminds me of someone else I know who will drive all the way across town so they can use a coupon for a three dollar item...
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Ron, good to see you are back.
Bob Durrell
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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Location DOES matter
Using the HSBC ATMs at different locations I found that the each one charges a different transaction fee for using their machine. Today in Ensenada
the ATM fee at Commercial Mexicana (pelican store where the average transaction is probably 5,000 pesos) was charging 20.98 pesos and the one at the
Calimax in Maneadero (a poorer area where the average transaction is probably 50 pesos) was charging 29.00 pesos.
I know, don't sweat the small stuff but that 8 peso difference goes to a big bank, not the merchant, and when there are hundreds of transactions a day
it adds up to about $100 USD difference.
Bob Durrell
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David K
Honored Nomad
Posts: 65100
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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| Quote: | Originally posted by durrelllrobert
| Quote: | Originally posted by BajaGringo
| Quote: | Originally posted by DENNIS
Whichever is more convenient unless you need a massive amount of Pesos. Then it would probably pay to do the math.
Don't sweat the small stuff. |
Ain't that the truth. I had to talk some sense into a friend awhile back who spent almost an hour driving around San Ysidro to find the best exchange
rate. After I explained to him that he spent more in gas driving around than the difference in pesos he would get for his $300USD we shared a good
laugh together.
It reminds me of someone else I know who will drive all the way across town so they can use a coupon for a three dollar item...
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Ron, good to see you are back. |
Ron's post is over 3 years old... Baja Vida bumped up an old thread with his new question.
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BajaVida
Senior Nomad
Posts: 541
Registered: 9-1-2003
Location: Motown, Califas
Member Is Offline
Mood: muy cool
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sorry for causing trouble by bringing up old news
we mainly use pesos for gas and road meals
thanks for the info
No se apure y dure.
Don\'t hurry and you\'ll last longer.
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BornFisher
Super Nomad
Posts: 2115
Registered: 1-11-2005
Location: K-38 Santa Martha/Encinitas
Member Is Offline
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I went to San Felipe Thursday. Stopped in Calexico at the first place on the right across from a bad Chinese restaurant. First place I saw, got 12.6.
Drove down the street and saw 12.8. Drove to San Felipe and saw 12.9. I got ripped off in Calexico and crumby food too!!!
Also saw a gas station north of San Felipe doing 12.9.
So my advice is take your dollars to San Felipe!!!
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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I guess thats called having fun in Baja?
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