So it has become a joke now for Pepe and I to add the term U.S. to the end of everything... when someone asks how much something costs its un mil... U.S. (un mil is 1 thousand).
I don't know why but its one of those things you say once or twice and then find stupid times to say it when dealing with numbers.
Speaking of money. Here's a tip. Bring more.
I left the U.S. with roughly $3,000 pesos. I have like a thousand left and I'm kind of hoarding it.
I read once on the inter-web, or maybe in one of my online Spanish classes that ATM s in Mexico suck. I read/heard that they are unreliable and will sometimes eat your card or not give you your money. I haven't tried to use an ATM in Mexico so I have no idea how true that statement is so to be on the safe side I've always just gotten my pesos at the bank in the U.S. and divided it up in my bags so no one large amount is in one place. The last time I was here I bought a bunch of gifts for people and that was where a lot of my money went because we didn't eat out all the time and Jose had money so he would pay for me. This time I haven't bought a damn thing for anyone and all we do is eat out and Jose is broke so I am paying most of the time.
I wish I had more money.
This is the other problem. You're probably thinking I could just use my card on stuff instead of paying cash all the time. I don't have that luxury. Most places here, from what I've seen, are cash only establishments. The only place I've been able to use my card is the supermarket.
My advice. If you're concerned about the amount of cash you have and are planning on buying items for your hotel/apartment/house while you're here like toiletries, food to be prepared, meals in the hotel restaurant, etc. Use your credit card. Check with your bank to find out your exchange rates for debit use out of the country first because I've heard some have really high ones. I have Chase bank in the U.S. and when I used my card at the grocery store to buy 271 pesos worth of stuff a charge showed up on my statement a few days later for $21 U.S. the exchange rate is $13 pesos to the dollar right now. So if there is a fee its really small. Like a dollar. Which is awesome.
They have exchange centers here "casa de cambios" but I was also told once that going into a currency exchange can be dangerous because sometimes criminals will wait outside for you (if you're white or look like you have money) and rob you. I haven't actually seen people who look like they're waiting to rob anyone but you never know. Also the exchange rate may be quite high.
If you're staying at a resort or hotel, I have heard they can do exchanges for you also. Its much safer however they may also have a high exchange rate.
So the best bet is to figure out how long you're staying and how much money you think you'll spend on food and things per day or week in U.S. dollars. Take that and multiply it by 13 (or whatever the exchange is at the time) and then add $50 -$100 per day/week more (U.S.) and that should give you a good amount. You can also factor in gifts or souvenirs if you plan to buy them. Things are cheaper here but not always. 1 pack of cigarettes at the time I'm writing this costs $38 pesos which is roughly just under 3 dollars U.S. A 1 liter bottle of water and a Red Bull today cost me $39 pesos which is exactly $3.
Some things are about the same price (a 1L water and red bull is usually 3 and some change or 4 in the states). So all in all things will even out to about what you would spend on vacation somewhere moderately priced in the U.S., this I why I say to estimate what you'd spend add 100 and times it by the exchange. Remember you can always buy more gifts or turn your money back into U.S.D. if you end up with too much.
Also factor in tip. Tipping is a custom here, I don't think people go by a percentage like we do, but they still accept them in bars, coffee shops, restaurants, the usual places. Don't be stingy, I try to tip the same way I would at home. This is one reason they like us here, we give them good tips.
OK. Money lesson over.
I don't know why but its one of those things you say once or twice and then find stupid times to say it when dealing with numbers.
Speaking of money. Here's a tip. Bring more.
I left the U.S. with roughly $3,000 pesos. I have like a thousand left and I'm kind of hoarding it.
I read once on the inter-web, or maybe in one of my online Spanish classes that ATM s in Mexico suck. I read/heard that they are unreliable and will sometimes eat your card or not give you your money. I haven't tried to use an ATM in Mexico so I have no idea how true that statement is so to be on the safe side I've always just gotten my pesos at the bank in the U.S. and divided it up in my bags so no one large amount is in one place. The last time I was here I bought a bunch of gifts for people and that was where a lot of my money went because we didn't eat out all the time and Jose had money so he would pay for me. This time I haven't bought a damn thing for anyone and all we do is eat out and Jose is broke so I am paying most of the time.
I wish I had more money.
This is the other problem. You're probably thinking I could just use my card on stuff instead of paying cash all the time. I don't have that luxury. Most places here, from what I've seen, are cash only establishments. The only place I've been able to use my card is the supermarket.
My advice. If you're concerned about the amount of cash you have and are planning on buying items for your hotel/apartment/house while you're here like toiletries, food to be prepared, meals in the hotel restaurant, etc. Use your credit card. Check with your bank to find out your exchange rates for debit use out of the country first because I've heard some have really high ones. I have Chase bank in the U.S. and when I used my card at the grocery store to buy 271 pesos worth of stuff a charge showed up on my statement a few days later for $21 U.S. the exchange rate is $13 pesos to the dollar right now. So if there is a fee its really small. Like a dollar. Which is awesome.
They have exchange centers here "casa de cambios" but I was also told once that going into a currency exchange can be dangerous because sometimes criminals will wait outside for you (if you're white or look like you have money) and rob you. I haven't actually seen people who look like they're waiting to rob anyone but you never know. Also the exchange rate may be quite high.
If you're staying at a resort or hotel, I have heard they can do exchanges for you also. Its much safer however they may also have a high exchange rate.
So the best bet is to figure out how long you're staying and how much money you think you'll spend on food and things per day or week in U.S. dollars. Take that and multiply it by 13 (or whatever the exchange is at the time) and then add $50 -$100 per day/week more (U.S.) and that should give you a good amount. You can also factor in gifts or souvenirs if you plan to buy them. Things are cheaper here but not always. 1 pack of cigarettes at the time I'm writing this costs $38 pesos which is roughly just under 3 dollars U.S. A 1 liter bottle of water and a Red Bull today cost me $39 pesos which is exactly $3.
Some things are about the same price (a 1L water and red bull is usually 3 and some change or 4 in the states). So all in all things will even out to about what you would spend on vacation somewhere moderately priced in the U.S., this I why I say to estimate what you'd spend add 100 and times it by the exchange. Remember you can always buy more gifts or turn your money back into U.S.D. if you end up with too much.
Also factor in tip. Tipping is a custom here, I don't think people go by a percentage like we do, but they still accept them in bars, coffee shops, restaurants, the usual places. Don't be stingy, I try to tip the same way I would at home. This is one reason they like us here, we give them good tips.
OK. Money lesson over.
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