Foreign Exchange and Holiday Spending


The upcoming Holiday Season has the tradition of giving and celebrating; with the past year that we have had, this is nothing short of the truth and it is anticipated that this Holiday Season will be embraced with a vengeance as we all welcome a “Normal” life and the hope of tomorrow. However, it is also important to spend responsibly.


We can often get carried away with the gifting, décor, food, and experiences, but with the new year approaching, we want to ensure we are on the best footing possible. What does that mean?


  1. Plan Ahead & Group your shopping trips
  • By making a shopping list you can know exactly what you want and source your gifts ahead of time; by calling around you can confirm each location to visit.  This will allow you to get your shopping done in a strategic manner, and avoid back and forth from stores, saving time and energy.
  • For persons that enjoy shopping online, try focusing on Cyber Monday–not Black Friday. This is the day when online retailers promote big sales, so you can save while shopping from the comfort of your own home.
  • Prepay essential expenses such as your utilities and other inescapables. Given that most holiday income is paid early, it is important that these vital expenses are settled.
  1. Avoid exceeding your budget
  • This should go without saying, “MAKE A BUDGET.” One of the best ways to shop smart this season is to avoid spending more than you have available for specific line items. Keep close track of the money you spend and know where your limits are, keep it simple once you find yourself having to negotiate purchases you are heading down a slippery slope
  1. Shop Alone
  • While shopping alone doesn’t sound as fun as bringing along a friend, it will save you time and potentially prevent you from being influenced to make big spur-of-the-moment purchases.
  1. Say “NO”
  • Your personal finances are unique to you, and you know it best, if making a commitment will set you back try to avoid doing so.

At the end of this all if we are traveling, spending and shopping online, and generally treating ourselves and others, we will be in need of foreign currency.  The more foreign currency you secure or have, the more you’ll have to spend on your holiday. So before you start spending, we recommend:


  • Do your homework in finding the best exchange rate possible.
  • Start early – start looking a few weeks (or even months) before the Season. This will give you time to shop around and compare rates to make sure you get the best deal possible.
  • Don’t leave your foreign exchange to the last minute, you may be stuck with a rate that isn’t so hot.
  • Use a known, trusted, and licensed Cambio Dealer