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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need? See Europe by train
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Old 10-24-2004, 08:55 AM   #1
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Hi guys I just wanted to share what happened to me the other day in London. Coming towards the end of my trip and the money running dry I needed to cash my travellers cheques which I had saved for emergencies.

Anyway I had a little time on my hands so I was checking out a couple of exchange rates along Picadilly. Two official looking exchanges would give me 285 for my 600US travellers cheques. I said I was shopping around and would be back and the exchange woman said 'we can beat other prices' Another little dodgy one would give me 302. So I went back to the official one and she offered me 306! Then I went to the other official one and they said they could match it but not better it so I knew that there wasnt any more room to move...I accepted.

Its really easy as you dont have to even have a finance degree or do any calculations. Just go up to the window and ask 'how much can I get for my ..... ' I was quite stoked as it was like over $50AUD

Later on for fun I just went to an exchange booth and asked again. 279 the response and then just by asking 'can you do any better?' it changed to 289.

The main message is never pay what is on the boards. You can always cut their profit margins down and have more money for yourself

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Old 10-24-2004, 08:11 PM   #2
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I had a similar expirience in Berlin. I was in the area around Checkpoint Charlie and they had a buch of guys selling souvenirs. I realized that I was in the market for one of those fuzzy Russian hats, so I inquired as to the price at the nearest stand. The turkish guy manning the stand gave me one price and it occured to me that this was hardly an official merchandise store and these guys probably were gouging us unsuspecting tourists for all we were worth. So I turned him down. I came to the next stand and appeared mildy interested in the hats and the guy told me the priec. I said the previous guy was offering for cheaper, whether he was or not, and got the guy to lower his price. I walked up and down the steet doing this with each guy for about a hlaf hour until I finally accepted paying 15 Euro for an official Soviet surplus fuzzy hat, complete with hammer and sickle pin on the front. I agree with evan, always attempt the haggle while travelling. If its not acceptable, you'll look like an ass, but you will likely never see that person or do business with that establishment again.
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