Beating the Exchange Rate

[Russethouse]

Make sure you include all members of your family in your economy drive - it needn't be divisive (Honest Quillan!). In fact it can be a real bonding experience.

Never heard that little saying Ian ? When poverty flies in the door, love flies out the window![:-))]

[mint]

Dear forum members

Thought I'd revive this thread now that the exchange rate is, if anything, worse than when I first posted this thread.

Reading through it all again, I have to thank Ian for his wonderful ideas, even if not all of them are easily applicable.

I do feel very much poorer, even if life goes on much as normal.

Here are a few more ideas:

Unless your visitors will pay for themselves, say no even if it makes you feel like Scrooge.

Don't buy any snacks even if tempted eg I put a pack of special offer Tux biscuits back on the shelf.

If you're just out walking the dog or just popping down to the post office, don't take any more money than you'd need in case you're tempted to stop off at the boulangerie or any place else.

Be really careful about turning off all lights, appliances in a room when you leave it.

Decide if your landline is worth an extra 16 euros a month.  What is the worst possible scenario if you do not have a landline?

Eat in instead of out if possible.  The effort isn't that great and you'd probably end up with a better meal.

Would the dog really notice if you bought it a cheaper brand of food and treats?

Can you make do with cheaper cleaning stuff and personal grooming products?

Do you really need to change your bedding every week now the weather is cooler?  Can you make it stretch to, say, 10 days?

Are you making the most of your heures creuses?  For example, I have a vacuum cleaner that charges up over night (when rates are cheaper) and then use it in the day.

Do you really need to feel as poor as I do or can you just afford to carry on as normal?  If you can, then I do envy you enormously.

 

[Panda]

[quote user="sweet 17"]

Do you really need to feel as poor as I do or can you just afford to carry on as normal?  If you can, then I do envy you enormously.

[/quote]

How much worse off are you in real terms?  I would be interested to know if the measures you are taking save more than you are losing with the exchange rate.

Your post made me think of you sitting with your jumper on, hair down to your knees, dog eating blue stripe food with a grimace.. quite depressing really.

I am worse off although I haven't noticed it, or perhaps I have ignored it...  you are wiser no doubt but I feel happier in ignorance

[Quillan]

Well thats no way to live [:(]

I know a few people who are struggling especially those on fixed income, basically pensions from the UK. The figure mentioned is about a devaluation due to currency exchange of about 20% since 2001, the bulk of which has been in the last 18 months. Thats quite a loss and very difficult to live with under those circumstances.

I feel very sorry for these people, living the dream is now bordering on living a nightmare and many have put their house in France on the market. Of course it does not help much with so many houses for sale, not many Brits buying and down here sales are few and far between with people often having to knock 15 to 20% of the value of their house out of desperation just to sell it.

Fortunatly I moved all my money and investments in to Euroland about 4 years back, some called me mad but perhaps I am now better off than most but not as well off as some.

If I were budgeting now, based on transferring a monthly income from the UK I think I would base it on an exchange rate of 1.10 Euros to the pound and anything over that would be a bonus. I think it will get better but you have to be in for the long run as many pundits both here and on other websites seem to think any currency recovery for sterling and the dollar may be 4 or 5 years away, not good news I know. Having said that these people are not always right and you only need something major to happen in Euroland to start tipping the balance the other way. To my mind trying to predict currency trends is much the same as trying to pick a winning horse in a race.

With house prices 'crashing' (so we are told in the UK media) perhaps now is as good a time as any to think of going back especially if you are having to live such a frugal life here in France. At least you stand a better chance of getting a job there.

[mint]

Hey, folks, don't take me so seriously, will you?

This was meant to be a light-hearted lament about how everything is heading south.  Not really my own  desperate situation yet.

That might come later but, in the meantime, the champagne is coming from Lidl!

[mandycats]

Hi, i'm absolutely no judge of champagne (prefer a drop of the red myself) but on a whim i purchased some caramel liquer from super U and added a drop of their 79cents fizzy - oooooh just lovely!  Its very sweet and fizzy, just right for those who dont like the dryness of champagne.  Its rather alchoholic aswell which is a bonus!

[parsnips]

With reference to the "experts" on currencies, if they really knew anything they would not be writing in newspapers and finance magazine, they'd be making millions on the forex markets. I read somewhere that exchange rates are like the weather, more or less unpredictable in the medium to long term, and something you just have to grin and bear if you choose to expose yourself to their vagiaries. 

[RicandJo]

[quote user="sweet 17"]Does the champagne you drink have to be Verve Cliquot [/quote]

Absolutely YES!!!!!!! [:D]

[cowoman]

Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..

I dont know what they cost in France but if you have got eggs you are never short of a good ingredient for all home made food.From breakfast ,curry,cakes etc

I think  keeping chucks would be a a fun thing to do too.

[Patf]

Yes but you have to buy them first, then feed them. I've written about this before, you don't save anything either keeping chickens, or growing your own veg. Especially if you count in the cost of your labour. It's just worth doing because they taste better.

We are among those feeling the pinch as our real spending power has dropped by about 20% in the last few years.  We have virtually stopped all DIY which has saved a lot. Gives us a rest too [:D]

 

[cowoman]

Here in the Uk I know you can buy the battery farm chucks for £5 each and I think they must have been innoculated .This saves them from their not so nice fate.It gives them a chance of a nice end to their horrible existence of a life being cooped up all day.I know a few people here who are doing this.Do they need alot of special food then?I know in wartime people would have a couple in their gardens so presumed they were cheap to run.

[mint]

[quote user="cowoman"]

Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..

I dont know what they cost in France but if you have got eggs you are never short of a good ingredient for all home made food.From breakfast ,curry,cakes etc

I think  keeping chucks would be a a fun thing to do too.

[/quote]

No good for me at all.  I have a "Working Cocker Spaniel" (that's her official breed) and she loves chickens...to kill them I mean.

She's killed 2 since we have been in France whilst out for walks and I couldn't really tell you about it here because I am still distressed at finding out that I have a killer-dog instead of the gentle, affectionate people-loving pet that I thought I'd brought to France.

[Logan]

[quote user="parsnips"]

With reference to the "experts" on currencies, if they really knew anything they would not be writing in newspapers and finance magazine, they'd be making millions on the forex markets. I read somewhere that exchange rates are like the weather, more or less unpredictable in the medium to long term, and something you just have to grin and bear if you choose to expose yourself to their vagiaries. 

[/quote]

That's the biggest load of rubbish I have read since the last time I read The Daily Mail.

Exchange rates are not whim and fancy. They directly relate to the economic performance of the country. The UK is doing very poorly, so is the Eurozone but not quite as bad hence the margin of difference.

Markets expect that to continue and the Eurozone to recover ahead of the UK. It is difficult to see how Britain can recover from a situation which can only be described as dire. Borrowing binges such as Britain has indulged in for the last 10 years have to be paid for. The pain will continue in my opinion until the mountain of debt both public and private is reduced.

You cannot expect investors to move capital into Sterling when the expected returns will be so low. Exchange markets respond to capital influx. Currently it's going only one way.

[cowoman]

[quote user="sweet 17"][quote user="cowoman"]

Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..

I dont know what they cost in France but if you have got eggs you are never short of a good ingredient for all home made food.From breakfast ,curry,cakes etc

I think  keeping chucks would be a a fun thing to do too.

[/quote]

No good for me at all.  I have a "Working Cocker Spaniel" (that's her official breed) and she loves chickens...to kill them I mean.

She's killed 2 since we have been in France whilst out for walks and I couldn't really tell you about it here because I am still distressed at finding out that I have a killer-dog instead of the gentle, affectionate people-loving pet that I thought I'd brought to France.

[/quote]

Oh sorry to hear that.It is really distressing when an animal that you love does something like this.It's hard to look at them in the same way.My sons dog killed my daughters love birds by knocking the cage over then killing them.It was just the fact that they were fluttering around that set him off chasing them.It takes a while to forget the episode but it does fade in time...really.

I had actually forgotten the incident until i just read this post.

[Patf]

cowoman - re feeding chickens: We buy maize and layers granules for our chickens and ducks. I also give them veg. remains and kitchen scraps.

I asked a question about this recently on a poultry forum and was amazed to find that it is now illegal in the UK to feed veg remains and kitchen scraps to poultry. This is since the bird flu scares. I think during the war people used to boil up all their food remains to make a sort of mash for the poultry - not allowed now evidently [+o(][:@]

[cowoman]

I do think its a good thing that there is some regulation on animals eating their own species.

Unfortunetly this doesn't apply to dog food.I have just been reading a book telling how alot of the top dog foods recommended by vets,use road kill animals,animals put down by vets and brand this food as natural and expensive.

According to the book this practice came to light when people were taking their poor pets to the vets to be put to sleep by injection.But the injections would have no effect because the drug was already used to the body due to eating the dog food!

 

[Gastines]

Logan, whilst I agree with most of your posting ,many billionaires and equity funds obviously look upon UK as a good bet. With their spare cash from oil/electricity/gas/metals etc they seem to be buying up any UK company/football club and expensive property that is buyable. I think there are so many really big money players in the world that they are in a position to manipulate currencies and tax laws to suit themselves. I'm amazed that UK still thinks of itself as a world player. The country can't even feed,fuel  or power itself anymore and seems to be at the dictates of the new super-powers.China,India Russia and of course USA. A bit different from my school days when one looked at a world map and what was considered Empire/Commonwealth. Now there's a phrase Commonwealth,who thought that one up?

Part of the problem seems to be that G.Brown and his motley crew seem unaware of what is going on. Major problem,lets not talk about that. Continuous co-k -ups.Lost this that and the other, Outsource everything then we can pass the blame. Get another sticking plaster to hold the place together etc etc.

Daily Mail reader +The Times++++

Regards.

[Quillan]

[quote user="sweet 17"][quote user="cowoman"]

Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..

I dontdont know what they cost in France but if you have got eggs you are never short of a good ingredient for all home made food.From breakfast ,curry,cakes etc

I think  keeping chucks would be a a fun thing to do too.

[/quote]

No good for me at all.  I have a "Working Cocker Spaniel" (that's

her official breed) and she loves chickens...to kill them I mean.

She's killed 2 since we have been in France whilst out for walks and

I couldn't really tell you about it here because I am still distressed

at finding out that I have a killer-dog instead of the gentle,

affectionate people-loving pet that I thought I'd brought to France.

[/quote]

Well the cure is simple, keep the dog on the lead. There's no such thing as a bad dog, just a bad owner (thats a general comment by the way). In 18 months I have lost 10 chickensthatsto dogs and the next dog that attacks my chickens (and I am a dog loving person by the way) will be shot. Its not nice having a dog rip a chicken apart in front of your guests while they are eating dinner. I am not the only one who feels this way and if you live in France believe me the French are far less tolerant than us Brits when it comes to this sort of thing. So for your own dogs safety do the right thing and keep it on a lead. Actually I thought the first line of your post was a bit off to be honest, not funny at all, in fact quite upsetting.

[cowoman]

I am sure sweet 17 is distressed about her dog killing the chucks and very likely does now keep it on a lead

[andyh4]

[quote user="cowoman"]

Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..

I dont know what they cost in France but if you have got eggs you are never short of a good ingredient for all home made food.From breakfast ,curry,cakes etc

I think  keeping chucks would be a a fun thing to do too.

[/quote]

 

Fun yes, profitable ??

Our cheap eggs (tray of 24 or 30) at Super U are, I discovered to my amazement, free range.  Around 10-12c each.

I can only imagine that the hens are raised by the thousand to bring in eggs at that price.

[Albert the InfoGipsy]

[quote user="cowoman"]I have just been reading a book telling how a lot of the top dog foods recommended by vets,use road kill animals,animals put down by vets and brand this food as natural and expensive.[/quote]

I find this very difficult to believe, purely on commercial grounds. Gathering 'road kill' in industrial quantities would be vastly more expensive, logistically, than buying best beef. Can you imagine the Spiller's van driving round and scraping splattered spaniels off the tarmac? What would be the average daily yield (kilos of useable meat) compared with the running costs?

As for using animals put down by vets, that would be equally uneconomic and would also be a very short route to public exposure.

[allanb]

[quote user="Logan"]

Exchange rates are not whim and fancy. They directly relate to the economic performance of the country. [/quote]

Maybe, but they relate to the current and expected economic performance of the country. 

Two sentences later, you yourself said: "markets expect..." But market expectations are varied and unreliable; if markets were good at predicting things, forward exchange rates would be reliable predictions - which they aren't.

I think Parsnips is right: (a) rates are more or less unpredictable, and (b) if they were predictable, "experts" would predict them, and would make more money than they can make by writing newspaper articles. 

[allanb]

[quote user="cowoman"]Does anyone keep chickens ? Free range eggs work out at around 23p each here in UK..[/quote]

I'm struggling to find the connection between exchange rates and chickens.   I've heard of people making predictions by studying the entrails of slaughtered birds: are we heading in that direction?

[AnOther]

The only thing markets seem to have accurately 'expected' over recent years is ever bigger bonus's [:@]

[Logan]

[quote user="allanb"] (a) rates are more or less unpredictable, and (b) if they were predictable, "experts" would predict them, and would make more money than they can make by writing newspaper articles. 

[/quote]

Currencies trade on the Forex in predictable bands. It's "events dear boy, events" which makes markets unstable.

For example a few days ago Sterling had been happily trading in a band between 1.25 - 1.28. That had been stable for some weeks. Then Mr Darling gave his gloom and doom interview to The Guardian. Result Sterling now trades in a band of 1225 - 1.245.

It is very predictable that Sterling will not improve against the Euro until such time as the British economy returns to sustainable growth. It is also predictable that that will not happen for a least 2 years.

If you understand how markets operate predictability is key to the difference between making money and losing it.