Mental Math: Easy Rules Of Thumb For Converting Currency

by Allison Kade on

Being in a new country is full of enough culture shock – trying to remember how many dollars to the krona doesn’t need to be part of it.

After all, constantly whipping out a calculator (well, a cellphone) and spending five minutes trying to figure out if that sandwich is really a good price is a waste of your valuable vacation time.

To make things easier on you, here are some basic rules of thumb to help you guesstimate the exchange rates in a sampling of different countries.

It’s important to note that currencies fluctuate all the time, so these rules of thumb should not be used as actual foundations for financial transactions. They were based off the most recent exchange rates as of midweek on the week of November 5, 2012. If you actually want to know what the exchange rate is for a given country, look it up. And if you want to know again a week later, look it up again.

These rules of thumb are intended to help you quickly do the mental math required to figure out if, yes, that sandwich is a good deal. Or, when you withdraw 400 pesos from the ATM, roughly how much you’re taking out in US dollars.

Disclaimer: this post is admittedly America-centric, but the reality is that’s my perspective as a traveler. I hope this will help others as it’s helped me.

Asia
China: Divide all prices quoted in yuan by about 6 for a dollar estimate.

Japan: Divide all prices quoted in yen by 100 and then tack on about 25% for a dollar estimate.

India: It’s slightly more than 50 rupees to the dollar.

Thailand: Roughly, divide the prices you see in bahts by about 30 and you’ll get the dollar value.

South Korea: Divide Korean prices by about 1,000 for the USD estimate.

Europe
Eurozone: Add a 25% premium to all the prices you see.

UK: Multiply pound prices by 1.5 and then round up to guesstimate the dollar amount.

Switzerland: Roughly 1-to-1 with the US dollar.

Russia: Divide prices by about 30.

South and Central America
Mexico: Divide the prices you see by 13 for a sense of the USD price.

Guatemala: Divide prices by 8.

Belize: Cut the prices you see in half.

Colombia: This one’s a little tricky. First, divide the Colombian price you see by half. Then divide by 1,000. If you’re lazy and on the go, that’s very rough. For a slightly cleaner conversion, do that and then add back 20%.

Argentina: Divide Argentine prices by about 5.

Ecuador: Trick question. Ecuador uses the USD as its currency, so no conversion needed.

Dominican Republic: Divide prices in the D.R. by 40 for a sense of US equivalents.

Jamaica: Divide prices by 100 and then add back about 10%.

Africa & Mideast
South Africa: Divide prices by a little less than 9 for the US equivalent.

Kenya: Divide by 100, and then add back about 15%.

Morocco: Like for South Africa, divide by a little less than 9.

Israel: Divide by about 4 to estimate the US price.

Turkey: Divide by 2 and then add back 25%.

Egypt: Divide by about 6.

Oceania
Australia: For estimating purposes, roughly 1-to-1.

New Zealand: Take a 20% discount on the prices you see.

[Image credit: Flickr user Images_of_Money]

Correction: A previous version of this article mistakenly said to “divide by half” rather than the correct “divide in half” or “cut in half,” and has been amended.

Looking For Holiday Airfare? Better Hurry

by Chris Owen on

When to buy holiday airfare is often the most difficult part of the process. Deciding where to go, when we want to fly there and who we might travel with is easy. Knowing when to pull the trigger on buying airfare seems to require a crystal ball. Since most of us don’t have mystic forecasting abilities, we look to what or who we believe are qualified sources for guidance. Experts seem to agree, the best time to buy is sooner than later.

“You don’t have a moment to lose,” said Rick Searcy, CEO of FareCompare in an ABC News report, cautioning travelers, “Holiday flights are going to be expensive.” Searcy believes that prices will be up to 70 percent higher than normal pricing, depending on routes, and those looking for direct flights can expect up to a 20 percent premium price.

So when to buy?

Those who have not bought flights for Thanksgiving travel are already too late for the best pricing. Looking at Christmas travel, Searcy suggests buying before November 10 for the best pricing and consider traveling during off peak times.Other ways to save on airfare?

Try a travel agent- Expect to pay a fee of $20 to $50 per person on top of the airfare but that fee can quickly become a great investment if a travel agent finds great flights at a lower price in less time than we might invest on our own surfing websites.

To get the best results with a travel agent, have very specific but flexible travel plans. Establish what agents call a “travel window,” basically a period of time within which you are able to fly. Note the time you need on the ground for holiday plans and throw in any hotel, car rental or other needs at the destination.

Also, send along past guest/frequent flyer numbers and available points to that agent to have on file and take advantage of if possible.

Pay attention to airline promotions- I got one today via email from American Airlines doubling miles every time I fly on American Airlines, American Eagle or the American Connection carrier from November 16, 2012, through November 26, 2012. Those miles might mean a lot to me and swing my vote toward American if two options come up roughly equal.

Regardless of what airline we fly, what airport we use or when we go, it’s clear that this year prices will be up and availability down as airlines trim fleets to fly full planes.




[Photo Credit- Flickr user matt.hintsa]

Extra Travel Fees Here To Stay, Like It Or Not

by Chris Owen on

Extra travel fees bring customization options that can make for a more pleasant air, hotel, land or sea experience. Also called “user fees,” those who value the option they provide are relatively happy to pay. After all, these are not mandatory fees but options. Still, just the dollar amount makes experts wonder, “What’s next?”

Airline fees should add up to $36.1 billion in 2012, according to a recent study from IdeaWorksCompany reported in the Los Angeles Times. That includes extra travel fees for checked baggage, Internet use, food, drinks, premium seating, quick boarding and more. Up more than 10% over 2011, online travel agencies and airlines have figured out how to position buying options in the booking process. Out of convenience, passengers make online buying decisions to save time at the airport.”They are understanding how to raise and lower fees to maximize overall revenue and how to better position items in the booking path to drive better sales,” said Jay Sorensen, president of IdeaWorksCompany in the Los Angeles Times report.

While there are no hard numbers on cruise line extra travel fees, those can add up too, as travelers choose premium dining options, tours ashore and onboard extras to customize their travel experience.

Sure, we don’t have to check luggage, enjoy a drink on board or use the Internet in the air. It is a choice travelers make, an optional travel expense.

Air travelers can choose to carry on their luggage, take any seat they get, enjoy whatever is included with the flight and not spend one penny more on extra travel fees. Cruise travelers can indeed sail and spend nothing more than the price of the cruise.

But do we really want to?

Apparently not, as extra fees are becoming so commonplace that they are rarely questioned or even complained about. Optional user fees are designed to charge those who want the service and let others save the charge as we see in this video:


[Photo Credit: Flickr user mroach]

Lost Luggage Has A Season And It Is Here Now

by Chris Owen on

Lost luggage was once a major problem for airlines but they have been doing better lately. Perhaps with the introduction of fees for checked bags, airlines are paying more attention to what happens to luggage. Maybe it’s those fees that are driving airline passengers to pack less, carry on more and give airlines less to lose. Whatever the reason, lost luggage is less of an issue than it once was for air travelers – for the most part. Still, there are some airlines that do a better job than others and, apparently, a time of the year when lost luggage reports peak.

A recent study by NerdWallet notes, “regional airlines mishandle luggage at significantly higher rates than average.” Those regional airlines include carriers like like ExpressJet, Mesa, and SkyWest. Better known airlines line American, Delta, US Airways and others, have a better report card.

The problem is that those smaller, regional airlines often operate flights for larger carriers, which equals more lost luggage. Also a problem: the holiday travel period between now and January.According to the NerdWallet survey, reports of lost, mishandled, damaged, delayed or stolen luggage spikes during this time as more travelers take to the air.

Looking to minimize the chances of a bad luggage experience? NerdTraveler suggests when traveling with someone else, split valuables into multiple carry-on bags to reduce the odds of losing important papers, documents and other items. Booking direct flights to minimize the airline handling of your luggage can help too.

Another good idea is to take smartphone photos of your luggage and its contents. That goes a long way towards a happy claim when luggage is lost or damaged. Finally, know the airline’s policy on reimbursement. Airlines commonly exclude personal items like electronics, photography equipment, things made of glass and more.



[Photo Credit: Flickr user puregin]

$6.79 Breakfast Sandwich And Other Avoidable Travel Expenses

by Chris Owen on

Which airline does the best job, which hotel has the best perks and which cruise line has the best past-guest program are topics that few travelers agree on. But when it comes to extra travel fees, all seem to agree: they are something to be avoided if at all possible.

Getting to the final cost of an airline ticket was made easy with recent truth in advertising rules put in place. But nowhere in that legislation was a requirement for airlines, airports, hotels, cruise lines and other travel service providers to be fair. We have to watch out for ourselves when traveling and while some parts of our travel plan are bound to cost more on the road than they do at home, some can be controlled with a little thought.

Talking to a person can cost. Some airlines charge $25 or more if you buy your ticket over the phone, speaking to a human being. While thinking the airline employee on the other end of the phone might be able to help out when we run into trouble scheduling online is not a bad idea, be prepared to pay more for the extra service.

Unnecessary insurance can add up fast. Rental car insurance fees are often redundant. Most travelers who own a car at home are covered if they rent one on the road. Check with your personal auto insurance agent to see. While you’re talking to them, ask if you have any travel coverage for anything at all and ask that same question of your health care insurance provider. Many travelers assume that they have no coverage but many do, if not through their regular health insurance, then through credit cards they may have if travel is purchased using those cards.

Post-Security purchases at the airport can be insanely high-priced. A $6 bottle of water can be avoided by bringing an empty re-usable water container that will make it through the security check. Planning on a meal between home and your destination? Bring it with you and save. Portable foods that are nutritious and not perishable are the best bets. Planning ahead for flight delays, energy bars like KIND bars are a good choice when brought from home – $1.50 versus at the price at a convenient kiosk in the airport by the gate for $3.79.

Breakfast sandwich at McDonald’s on the way to the airport: See the dollar menu.
American Airlines breakfast sandwich in the air: $6.79.


Printing cruise documents, what was once the cause for dancing, as travelers who looked forward to their cruise of a lifetime waited for the mailman to deliver, has gone electronic on all but a few cruise lines. Many major cruise lines simply don’t have the option of paper documents anymore. Royal Caribbean still offers a printed version of cruise documents, upon request at time of booking, for a $35 fee per document.

Probably one of the worst and most avoidable extra fees is Spirit Airlines $100 Carry-On Fee, due to start in November.

The idea is to discourage their customers from making last-minute luggage decisions. The current bag charges of $20 for $9 Fare Club members, $30 for online orders and $35 for telephone reservations go up $5 each on November 6. The prices for carry-on bags paid for at airport ticket counters or kiosks go from $40 to $50. Forget to pay that before you reach the gate? $100 will be the fee. The airline still allows one free small personal item that will fit under the seat.

Check this quick video with some ways to save on airline fees.

[Flickr photo by stevendepolo]