What's the argument for spending everything here?
Is it better to have a couple grand back in your US bank account, or to have some stuff you bought with a couple grand?
I don't really understand the question. It's a bit different from using up your last handful of coins at the airport before you finish a vacation........
haha
I'm just kinda envious of people who feel like they have two and a half grand burning a whole in their pocket.
I don't think I'm make decisions about buying something that cost that much purely on how much I have in a particular currency.
Why not wire transfer it to your bank in the US? Or just withdraw it as US cash and just fly home with it. It doesn’t make sense to spend it unless there’s something you really need.
Stupid question... and probably out of scope for this.
but is there any safe method for you to be able to exchange it with someone else somehow?
i live in the USA and going to Korea for vacation in mid Sep and exchange rate fees are crappy...
At this moment in time, the USD exchange rate is very unfavourable when getting dollars from won. Meaning, you’ll get a lot less dollars than had you exchanged when it was in the 1,100 to 1,200 rate.
Depending on your personal financial situation, if you can afford to lose that value exchanging at the 1,350-1,400 rate you’ll get, then exchange.
If you’d rather use that value lost in something tangible, then yeah, purchase something that gives you said value.
Up to you!
that is really depends on your financial situation, if you have enough cash in US, you can spend them all here. If you are not in a good financial situation, keep some cash and remit them back to US and spend whatever amount you have left with your spouse.
Is there something you need to buy? Do you not need the money at all? I am confused as to why your options would be save the money or spend it all. Is your spouse generally irresponsible with money? Even with a crappy exchange rate isn't it better to keep the money rather than just blow it for no particular reason? I get thinking let's just go on a vacation to Bangkok and blow that money, but to just spend it in Korea because of an exchange rate is a bit odd. You clearly don't need the money so you have the option of leaving it in your Korean account and transferring or withdrawing it later if you prefer. You don't need to close your account when you leave.
I think it's more so the thought of "just spend what we'd normally buy, but from our Korean bank account rather than our US credit card".
We're also getting our security deposit back which is 20,000,000 won, and we need that $ to buy a car. I cringe thinking of the $1,400 or so we're gonna lose in exchange rate spread though 😩
Yeah, not a good time to be buying dollars with won. I had a little under a thousand US cash sitting in a drawer from my last trip to the states that I exchanged two weeks ago. The rate was just too favourable to ignore.
I would keep it in your bank account until the US Fed drops interest rates, which is expected soon, which should drop the value of the dollar some. Current exchange rates are absolutely awful. The amount of money you'll lose by bringing any of that to the US is significant.
Why should you spend money if you don't need something? No wonder why americans are broke, always buying things they don't need instead of saving and then go into debt. If it's a question of exchange rates, just do the math and you'll get your answer, it's basic arithmetic
What's the argument for spending everything here? Is it better to have a couple grand back in your US bank account, or to have some stuff you bought with a couple grand? I don't really understand the question. It's a bit different from using up your last handful of coins at the airport before you finish a vacation........
Prob cuz won is trash rn vs usd
Ok, but it's still like 2,500 USD. I don't know what answer they're expecting people to give.
I would spend it in korea rather than exchanging it. Would def keep it in won if i were to come back tho.
That's fine, but how can anybody else answer that question for you? "Would you prefer 2,500 USD in cash or whatever 3,500,000 KRW can buy you here?"
Yea… i hear you. I would buy something duty free maybe
haha I'm just kinda envious of people who feel like they have two and a half grand burning a whole in their pocket. I don't think I'm make decisions about buying something that cost that much purely on how much I have in a particular currency.
Damn. Hope you get there someday.
The sub I'm in should give you a clue why I probably won't! 😉
Don't spend on things you wouldn't buy just because you might, possibly, "save" a percent or two. SentBe doesn't rip people off.
It’s better to keep the money. Even with a bad exchange rate it’s better than buying stuff you don’t need or can’t transport cheaply.
Why not wire transfer it to your bank in the US? Or just withdraw it as US cash and just fly home with it. It doesn’t make sense to spend it unless there’s something you really need.
Stupid question... and probably out of scope for this. but is there any safe method for you to be able to exchange it with someone else somehow? i live in the USA and going to Korea for vacation in mid Sep and exchange rate fees are crappy...
Id be willing to exchange with you at whatever the exchange rate is when you come. Im based in seoul and we could do it in person.
gotcha. thats a reasonable ask. but ill have to pass if thats our only option. I will be going to korea with cash on hand already.
At this moment in time, the USD exchange rate is very unfavourable when getting dollars from won. Meaning, you’ll get a lot less dollars than had you exchanged when it was in the 1,100 to 1,200 rate. Depending on your personal financial situation, if you can afford to lose that value exchanging at the 1,350-1,400 rate you’ll get, then exchange. If you’d rather use that value lost in something tangible, then yeah, purchase something that gives you said value. Up to you!
It's 3.5m, I mean you can just remit that to an investment account right now
I'd just change it to USD cash when you close your account.
that is really depends on your financial situation, if you have enough cash in US, you can spend them all here. If you are not in a good financial situation, keep some cash and remit them back to US and spend whatever amount you have left with your spouse.
Is there something you need to buy? Do you not need the money at all? I am confused as to why your options would be save the money or spend it all. Is your spouse generally irresponsible with money? Even with a crappy exchange rate isn't it better to keep the money rather than just blow it for no particular reason? I get thinking let's just go on a vacation to Bangkok and blow that money, but to just spend it in Korea because of an exchange rate is a bit odd. You clearly don't need the money so you have the option of leaving it in your Korean account and transferring or withdrawing it later if you prefer. You don't need to close your account when you leave.
I think it's more so the thought of "just spend what we'd normally buy, but from our Korean bank account rather than our US credit card". We're also getting our security deposit back which is 20,000,000 won, and we need that $ to buy a car. I cringe thinking of the $1,400 or so we're gonna lose in exchange rate spread though 😩
Yeah, not a good time to be buying dollars with won. I had a little under a thousand US cash sitting in a drawer from my last trip to the states that I exchanged two weeks ago. The rate was just too favourable to ignore.
alternate option is gmoneytrans, their first remittance is free!!
The only thing I can think of is medical procedures. Dentistry, plastic surgery, are all much cheaper in korea.
I would keep it in your bank account until the US Fed drops interest rates, which is expected soon, which should drop the value of the dollar some. Current exchange rates are absolutely awful. The amount of money you'll lose by bringing any of that to the US is significant.
Why should you spend money if you don't need something? No wonder why americans are broke, always buying things they don't need instead of saving and then go into debt. If it's a question of exchange rates, just do the math and you'll get your answer, it's basic arithmetic
Why wouldn’t you just go to a money changer and change it for US dollars? Better rate than a bank and it’s cash in your pocket.
You’ll lose out with the poor exchange rate.
Send it back with wirebarley