the dollar is messing up my budget!

[normmo]

Okay - I've budgeted for our April Disney trip and went on the assumption that the dollar would be at $1.05 or $1.10 (because that's what the experts predicted). Now the dollar is falling and my question is - does anyone know what the dollar is expected to do? I know it's impossible to know for sure but if the dollar is below par it will mean putting aside some more money.
Mo

[sammi]

Yeah I know, we're feeling the pinch too......I heard on the news that experts predict the dollar to hit .90 by the end of the year...I bet it will be much sooner than that though.....:confused3

[satman1962]

Well if you can't count on the experts than who can you count on.

[son3disfan]

I hear you!
We have a $6000 cruise/land vacation planned in April too, and that dropping dollar is alot of money we are losing!:scared1:

I knew it wasn't going to last , but I thought for just a little bit longer!! Like until the US election in the fall!

[neverrest]

I do not rely on experts. Mostly because experts can not seem to agree on what is going to happen :)

I am just going to wait and see :banana:

But I think you need to go with what you feel most comfortable with.

Do you chance that is will go down again, do you jump on it now, do you get some now and some later.

[minnie56]

I hear you!
We have a $6000 cruise/land vacation planned in April too, and that dropping dollar is alot of money we are losing!:scared1:

I knew it wasn't going to last , but I thought for just a little bit longer!! Like until the US election in the fall!
You can pay your final payment now, or some of it...while the dollar suits?

[petunia]

I'm stressed too, we leave in a month, and I don't know if I should grab some more USD today, before it plummits or hope it will come back up:confused3

[briarberry]

We are leaving on Thursday for WDW. I am so glad that I opened up an US bank account last year. Whenever the rate was particularly good I moved $ into in. My mom always had an US account because she had relatives in the states and visited often.
I just opened the account at the credit union I bank at. I have everything set up online, so it is simple to switch $ from one account to another.
I know this doesn't help right now, but I just thought I'd post this idea in case someone else might find it helpful.
I am packing up the suitcases today and can hardly wait to hit the road on Thursday!!!!:tinker:

[son3disfan]

You can pay your final payment now, or some of it...while the dollar suits?

Would love to pay now....except, we haven't saved enough yet! I have an american account that I put money in when ever I can,( and an american credit card to pay the trip with) but thought I'd have alot more time to save with a really good dollar. Guess I 'll just have to add more to the budget!!

[minnie56]

Gotcha, but think of this

First cruise we ever did was back in 2003 with Royal Caribbean. RC had a promo on for Canadians..they let you lock in a conversion rate, can't recall exactly what it would have been but I want to say $1.55? We were thrilled. Now, doesn't todays rate make you happier?;)

[son3disfan]

Gotcha, but think of this

First cruise we ever did was back in 2003 with Royal Caribbean. RC had a promo on for Canadians..they let you lock in a conversion rate, can't recall exactly what it would have been but I want to say $1.55? We were thrilled. Now, doesn't todays rate make you happier?;)

ABSOLUTELY!!!:thumbsup2

Yes I do remember one of our first family vacations to Disney..
I want to say 2001??? and I exchanged $1000.00 for spending $$$ and recieved $635!!!
Now that hurt!

So yes, 90 cents on the Dollar is still ok with me!
Thanks for the reminder!!:lmao: :lmao:

[F4disneyfan]

I have been hearing the 85 cents number by X mas time but who really knows honestly.

[Reese]

I have been hearing the 85 cents number by X mas time but who really knows honestly.

:scared1: Now the 0.93 I can handle but 0.85 would really through a wrench into my plans.

[F4disneyfan]

Oops double post. See below.

[F4disneyfan]

:scared1: Now the 0.93 I can handle but 0.85 would really through a wrench into my plans.

LOL not for us this is just one more reason DVC makes soo much sence to us. No worrying about the budget for hotels etc while we are away. DVC takes that headache out of the equation. Not to mention we only usually take about 500 spending money with us for a week so 1000 for our 2 week stays not to mention with DVC we get to buy groceries and make all our meals ourselves which cuts way way down on food costs without having to eat out all the time.

[BELLEDOZER]

I feel everyone's pain....I'm in the same predicament too!!!:scared1: :scared1: I'm trying to save some USD for our trip to DL in Feb/09. I was able to get $1100.00USD when the dollar wasn't too bad last month, and was able to put it in the USD account that I opened last month. With the falling dollar, it's making it more difficult to save for our trip, as I try to convert some CDN into USD every month. Better buy the USD while our CDN dollar is still strong against the USD. What it means is less money to spend while we are down there.

[SaskDisNut]

I purchased some USD today at CIBC as we are going to Montana tomorrow and $1 USD = $1.0876 CDN.

I'm glad some of our Dec. trip is paid for but the falling dollar isn't helping matters any. I hadn't been paying attention to it to much over the last couple of weeks and was surprised at how quickly it fell.

[laura001]

I purchased some USD today at CIBC as we are going to Montana tomorrow and $1 USD = $1.0876 CDN.

I'm glad some of our Dec. trip is paid for but the falling dollar isn't helping matters any. I hadn't been paying attention to it to much over the last couple of weeks and was surprised at how quickly it fell.

I don't have a problem paying 1.08 for the dollar....still a great deal compared to 1.40. As long as it stays around this I don't have much of a problem not paying off our trip early. If we pay it off early, we would have to put it on our credit card and would end up paying fees anyway because we couldn't pay it off til Feb. Hopefully it doesn't go past 1.15.....that will keep me happy.

Right now I buy American money at par from a store that gets it in a little at a time, so I put that into our American account. We always use the money from that account for our spending, but how would I go about using that account to pay for our trip, if we moved the money from the account to our credit card, you loose money again on the transfer back to Canadian??

[bunnyfoo]

Right now I buy American money at par from a store that gets it in a little at a time, so I put that into our American account. We always use the money from that account for our spending, but how would I go about using that account to pay for our trip, if we moved the money from the account to our credit card, you loose money again on the transfer back to Canadian??

I have a US$ credit card so I have no choice but to pay it off in US :) If you've booked a room only reservation, maybe you can buy traveller's cheques and then pay off the room when you get there. I think you can also send in a money order or cheque but I've never done that myself so I'm not sure how it works.

[mom2faith]

Two weeks ago I told DH we should go get our USD. He said, no it is going up to $1.10, just watch (it was at par or close at the time). I said I do not feel comfortable, I really want to do it now.

But, alas, he is the gambler of the family, and we decided what is another week or so.:rolleyes:

On Friday he called. He shamefuly said he is on the way to the bank ASAP to avoid any more fall out. What was going to cost us about $16 for exchange 2 weeks ago cost us $137!! :scared1: Now, I know that is not a lot, but that is a great souvenier or a great meal while we are gone!!:sad2:

My gut says when the US Election is over it is going to drastically change one way or another.

We knew it couldn't last forever!!:sad2:

Good luck with your savings.

[laura001]

I have a US$ credit card so I have no choice but to pay it off in US :) If you've booked a room only reservation, maybe you can buy traveller's cheques and then pay off the room when you get there. I think you can also send in a money order or cheque but I've never done that myself so I'm not sure how it works.


I was just wondering if anyone had come up with a way of doing that and as I said, really no biggie for us. We have a cruise booked and then back to WDW after, I will just have to be happy with the savings on our "cash" portion! :goodvibes

[minnie56]

You can send a cheque or I am sure money order (I have a USD acct so have sent a chq once) ahead of your stay to soften the blow when you get there and when you can buy the $$ at a good rate. Just quote bkg# and ask them to apply payment to it.

[son3disfan]

Ok, I just had a thought...

I recall at CAA, they advertise Traveller cheques with no "fee", so I'm assuming that means what ever the exchange rate is, is what I get.
( unlike the banks who always add on at least 2 or 2.5% to the going rate).

So , could I change my Canadian money into traveller cheques at CAA, then deposit them into my US account, instaed of just exchanging money at the bank? Does that make sense?
I would save the exchange "fee"?
Anyone done this?

For a $6000 vacation, any little savings can add up.( would be a savings of $150 or so?)
What do you think?

[CdnDisneyNut]

I think that buying US travellers cheques or buying US cash in the end would cost the same.

Hope the dollar improves over the next couple of weeks. I think I have enough cash but wanted to get an extra couple hundred $.

[F4disneyfan]

Well rumours abound that we could see a slip of another 15 cents possible. Most are saying down to 75 cents over the next 4 weeks.

[laura001]

Well rumours abound that we could see a slip of another 15 cents possible. Most are saying down to 75 cents over the next 4 weeks.


Wow!!! Where did you see/hear/read this? I would be very interested in reading more about that.:goodvibes

[F4disneyfan]

Wow!!! Where did you see/hear/read this? I would be very interested in reading more about that.:goodvibes

The bank I work for the higher ups were talking about it yesterday afternoon. This is apparently coming from some of the economists in canada.

[petunia]

me too:confused:

[ktdaiwik]

Wow that is scary.The economist on the news here this am said he thought it would be around 94 to 96 cents so that is a big difference....
:confused3

[laura001]

Wow that is scary.The economist on the news here this am said he thought it would be around 94 to 96 cents so that is a big difference....
:confused3

That is what I have been reading also. Here is a forecasting chart that I found:


Canadian Dollar to US Dollar Currency Exchange Forecast
Canadian Dollars to One U.S. Dollar. Average of Month.
Month Date Forecast
0 Jul 2008 1.0131
1 Aug 2008 1.025
2 Sep 2008 1.016
3 Oct 2008 1.005
4 Nov 2008 1.006
5 Dec 2008 1.012
6 Jan 2009 1.032
7 Feb 2009 1.047
8 Mar 2009 1.059
Updated Sunday, August 10, 2008

Hope that helps!

[son3disfan]

Thanks for posting the chart, but .....
1.0623 is the rate today...so I think the prediction is pretty far off( I wish it wasn't!)

I agree with F4disfan..I think it's going back to what it once was.
But WHO KNOWS FOR SURE!!!!

[laura001]

Thanks for posting the chart, but .....
1.0623 is the rate today...so I think the prediction is pretty far off( I wish it wasn't!)

I agree with F4disfan..I think it's going back to what it once was.
But WHO KNOWS FOR SURE!!!!


I believe that they post it as an average for the month....and of course with a margin of error. We can only hope!

Am editing to add the Bank of Canada monthly averages for the past 5 months

Currency ISO 4217
U.S. dollar (noon) USD
Low[ high ] May 2008 0.99937143 CAD[ 1.00062897 USD ]
Average Mar 2008 — Jul 2008 1.00894232 CAD[ 0.99113694 USD ]
High[ low ] Jun 2008 1.01673333 CAD[ 0.98354206 USD ]
Date 1 USD -> CAD 1 CAD -> USD
Mar 2008 1.00202500 0.99797909
Apr 2008 1.01388636 0.98630383
May 2008 0.99937143 1.00062897
Jun 2008 1.01673333 0.98354206
Jul 2008 1.01269545 0.98746370
Aug 2008 Not available Not available

[bunnyfoo]

That is what I have been reading also. Here is a forecasting chart that I found:


Canadian Dollar to US Dollar Currency Exchange Forecast
Canadian Dollars to One U.S. Dollar. Average of Month.
Month Date Forecast
0 Jul 2008 1.0131
1 Aug 2008 1.025
2 Sep 2008 1.016
3 Oct 2008 1.005
4 Nov 2008 1.006
5 Dec 2008 1.012
6 Jan 2009 1.032
7 Feb 2009 1.047
8 Mar 2009 1.059
Updated Sunday, August 10, 2008

Hope that helps!

Thanks for posting that! It gives me something to think about.

Do you have a link for the chart that you can post?

[laura001]

Sure!

http://www.forecasts.org/cdollar.htm

and

http://www.bankofcanada.ca/en/rates/exchange.html for bank of canada which you can look up all kinds of info on.

[minnie56]

I am sure nobody can say for sure. I was in the Bank buying Euros the other day and asked my Banker what the odds were it would also get more favourable to buy? She laughed and said "if only I knew that I could be very rich!!" The 'powers that be" can surmise but really-that is all.:confused3