Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • natlie
    • By natlie 5th Aug 18, 7:20 AM
    • 1,222Posts
    • 5,331Thanks
    natlie
    Euro's sell or keep?
    • #1
    • 5th Aug 18, 7:20 AM
    Euro's sell or keep? 5th Aug 18 at 7:20 AM
    Hi i have about 120 in Euro's from a holiday a while ago - as I won't be going on holiday soon should I sell them and pay off some debt or keep them until rates are better/next holiday?

    Thanks
    Nat
    27328 26,728 26,668 26475.20 26,696.77 DOH
Page 1
    • D_M_E
    • By D_M_E 5th Aug 18, 2:33 PM
    • 2,111 Posts
    • 69,819 Thanks
    D_M_E
    • #2
    • 5th Aug 18, 2:33 PM
    • #2
    • 5th Aug 18, 2:33 PM
    I'd keep them - the way the is falling it won't be long before a euro gets you 2
    • worried jim
    • By worried jim 5th Aug 18, 2:35 PM
    • 9,736 Posts
    • 14,979 Thanks
    worried jim
    • #3
    • 5th Aug 18, 2:35 PM
    • #3
    • 5th Aug 18, 2:35 PM
    I'd keep them - the way the is falling it won't be long before a euro gets you 2
    Originally posted by D_M_E
    Come Brexit next year it will be only currency that shops will take besides gold sovereigns.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Willing2Learn
    • By Willing2Learn 5th Aug 18, 2:37 PM
    • 1,836 Posts
    • 1,419 Thanks
    Willing2Learn
    • #4
    • 5th Aug 18, 2:37 PM
    • #4
    • 5th Aug 18, 2:37 PM
    Hi i have about 120 in Euro's from a holiday a while ago - as I won't be going on holiday soon should I sell them and pay off some debt or keep them until rates are better/next holiday?
    Originally posted by natlie
    Hi Nat,

    If it was me, I would consider this money sitting outside my budget, and would spend it accordingly. Half on existing debt and half on a treat for being such a conscientious MSEr!!
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • saajan_12
    • By saajan_12 6th Aug 18, 11:20 AM
    • 1,528 Posts
    • 1,135 Thanks
    saajan_12
    • #5
    • 6th Aug 18, 11:20 AM
    • #5
    • 6th Aug 18, 11:20 AM
    The danger with keeping money in eur is you can't deposit it into most GBP bank accounts (without fees atleast) so you have to keep it in cash. As you can't spend it in the near future, it can be easy to keep it in a 'safe place' and forget about it by the time the next holiday rolls around. You're taking pure FX risk, so with the chance of downside (GBP is already quite low, so we could see a correction) and the chance of losing it I think its better to just convert it and move on..

    In other words your EUR 120 is worth GBP 106 now, it could get to more.. 120? 130? it could get to less if we see a correction 80? 60? it could get lost in the next year 0? I'd jsut take the 106
    • Tarambor
    • By Tarambor 6th Aug 18, 2:45 PM
    • 3,976 Posts
    • 3,018 Thanks
    Tarambor
    • #6
    • 6th Aug 18, 2:45 PM
    • #6
    • 6th Aug 18, 2:45 PM
    Come Brexit next year it will be only currency that shops will take besides gold sovereigns.
    Originally posted by worried jim
    Based on what? The country that finances the majority of EU business borrowing and processes 75% of the entire global Euro stock trade clearing and forms 1/8th of the GDP of the entire EU is leaving in 7 months time and without a deal especially in the financial sector that'll see the value of the Euro fall as the ability to trade in stocks and commodities traded in Euros becomes massively restricted.
    • davetrousers
    • By davetrousers 6th Aug 18, 2:51 PM
    • 5,639 Posts
    • 4,881 Thanks
    davetrousers
    • #7
    • 6th Aug 18, 2:51 PM
    • #7
    • 6th Aug 18, 2:51 PM
    Keep it.


    You'll get shafted on the buy back exchange rate
    .....

    • vacheron
    • By vacheron 6th Aug 18, 3:20 PM
    • 874 Posts
    • 810 Thanks
    vacheron
    • #8
    • 6th Aug 18, 3:20 PM
    • #8
    • 6th Aug 18, 3:20 PM
    Hi i have about 120 in Euro's from a holiday a while ago - as I won't be going on holiday soon should I sell them and pay off some debt or keep them until rates are better/next holiday?

    Thanks
    Nat
    Originally posted by natlie
    What I do if I have some left over euros is wait until someone I know is going to Europe and ask them if they want them (or some of them).

    If you sell to them at the true exchange rate taken from any online currency converter (I tend to use XE.com) you both get a better deal as there is no middle man "spread" to have to deal with.

    Since I now use an overseas travel credit card all I usually need is 20-30 euros to get me to the first cash machine. Then as I'm only drawing out the cash I need as I go I don't end up returning with large amounts of leftover currency any more.
    The rich buy assets.
    The poor only have expenses.
    The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
    • Hopeless Case
    • By Hopeless Case 6th Aug 18, 5:25 PM
    • 888 Posts
    • 5,347 Thanks
    Hopeless Case
    • #9
    • 6th Aug 18, 5:25 PM
    • #9
    • 6th Aug 18, 5:25 PM
    As it's quite a lot of money and you have debt and no plans to go away again soon, I'd exchange them and pay some of the debt

    You have time to start saving towards another holiday and your debt repayment will have a bit of a boost!
    Nov GC 80.34/200
    NSD target: Nov 1/15
    Bring Your Lunch to Work Target Nov 1/15
    1 a day: Nov 44.75/45
    Tesco CC Aug 18 10,151.56 9950.56 0% 30mnths, First Direct CC Aug 18 4321.80 3968.77 0% til Feb 20
    • worried jim
    • By worried jim 6th Aug 18, 10:33 PM
    • 9,736 Posts
    • 14,979 Thanks
    worried jim
    Based on what? The country that finances the majority of EU business borrowing and processes 75% of the entire global Euro stock trade clearing and forms 1/8th of the GDP of the entire EU is leaving in 7 months time and without a deal especially in the financial sector that'll see the value of the Euro fall as the ability to trade in stocks and commodities traded in Euros becomes massively restricted.
    Originally posted by Tarambor
    Tough gig when you have to point out it's a joke. I do like your evaluation though.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,771Posts Today

7,680Users online

Martin's Twitter
  • Many asking "what does leaving EU actually mean for me?" both with or without a no-deal. The MSE guide to Brexit t? https://t.co/ULimpQPlHp

  • I'm very glad my poll today has caused such unity and consensus. It feels like a real moment of rapprochement in th? https://t.co/QVCzqsiVOi

  • RT @CourtBasedPSU: This week we hit a major milestone. PSU volunteers have now provided support to Litigants in Person on 300,000 occasion?

  • Follow Martin