Feb
01
2010
and Conversion Rates
jennifer wrote this at 10:07 pm

Paying rent in Korea is a little different….ok, a lot different.

Korea is a cash environment - I told you that already, right?

So what does that mean?…

Well, it means you have to pay in Korean won.

No checks, no automatic payment set-ups, no military allotments.

Cash only…and you wind up counting it over & over to make sure you’ve got it all.

It doesn’t sound like quite a chore, but it is…and it’s a tedious, painful one.

Eric gets paid in US dollars which means we have to exchange it for Korean won.

And depending on which way the dollar is blowing our actual rent varies from month to month.

So while there is a fixed rent cost, we don’t pay a fixed amount.

When the won’s up, our rent is cheaper. When the won’s down, our rent is more expensive.

And unfortunately, Uncle Sam doesn’t compensate for the fluctuations. It’s one of those hidden costs of being stationed in Korea that no one tells you about & it makes budgeting harder.

It also means you walk around with a lot more cash than you’re comfortable carrying – or at least more than I’m comfortable carrying.

I feel like a drug dealer carrying all that cash.

Check it out! 4 Responses - Whoo Hoo!
  1. Terri Barnett says:

    Dang, girl, the sight of all that would make some drug dealers green with envy! Do you have a locking briefcase with a chain around your wrist?? I know that’s too much to fold and stash in your pants pocket!! That’s not folding money, that’s brickin’ money!!

  2. Sandra Sterling says:

    Jennifer: I was just asking Cynthia about this and now I know! Oh my goodness. How do you pay the utilities and to whom? Am still in negotiations about Step and pay issues at this point. Lots of papers already signed and now have a passport.

  3. hashakat says:

    when we lived in berlin, (loved it!) i worked for the usa finance office and was paid in deutsch(?)marks, so always had a wad of them in my purse. things we bought on the economy had to be paid in marks, then when we went to east germany to shop, we had to convert our west marks into east marks (or funny money as we called it.) things were incredibly cheap in the east and fun to shop for. my husband was in a classified field (intelligence) so we were always accompanied, but loved to go, even with all the nonsense you had to go thru. sometimes we wish we were still there…

  4. Joy says:

    This is crazy! I can see why that makes you very nervous. I was telling my husband about your blog the other day and how interesting it is! Hope you are feeling better. I left you a message on your last post about your migraines that I hope might help.
    joy at grannymountain

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