How the dollar’s low value affects studying abroad
By Jacki Dillman | Reflector Correspondent
I have always been pretty capable of managing my own money. I’ve paid my bills on time, saved for college and even avoided unnecessary shopping sprees.
Then, I decided to study abroad in Athens, and all of my frugal tendencies went out the window.
It’s almost impossible to manage money well here. Life is a whirlwind of local shops, delicious gyros and irresistible coffee and gelato breaks. Not only is there a temptation on every corner, they are also not quite as affordable as they were back home.
When I signed up to come to Greece, I obviously knew that they used the euro as currency here. I didn’t realize, however, how hard it would be to switch from the U.S. dollar to this foreign currency. I have to constantly be aware of how much I am spending because the dollar and the euro are not equal in value. It takes nearly a $1.50 to equal just one euro.
Not only are the prices higher here, but I’ve been hit by fees from my bank for using international ATMs, as well as elevated exchange rates when I convert dollars into euros.
My roommates and I are always in search of a bargain. We hit up flea markets and even trek across town to find the best deals on milk. Also, we venture into an old-fashioned meat market once a week to find deals on beef or chicken.
No matter how hard we try, it seems that we can never stay on a fixed budget. Greece has a culture oriented around late nights out, coffee breaks and shopping trips. It’s hard not to get caught up in the madness.
I miss American currency, but I have to admit that some aspects of Greek finances have their perks. For example, there is no sales tax here on any items. What you see is what you get as far as the price. I have really enjoyed that.
On the other hand, one of the biggest drawbacks would be that many local restaurants and shops do not accept credit cards; I always have to carry cash.
The other day, I mopped the floors in our tiny little apartment and found a nickel under my bed. It seems so weird to me that after only eight weeks of living abroad, that nickel looked like foreign currency to me.
I guess I have always taken the dollar for granted at home, but I won’t anymore. I am anxiously awaiting my return to the US. The first thing I’ll do is grab something off of a McDonald’s dollar menu, return my debit card to its rightful place in my wallet and kiss Abe Lincoln’s crisp green face on the first $5 bill I can find.
