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    • natlie
    • By natlie 5th Aug 18, 7:20 AM
    • 1,115Posts
    • 4,777Thanks
    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
    First Debt Free Date: July 2014 I screwed up currently working on my second Debt Free Date
Page 1
    • D_M_E
    • By D_M_E 5th Aug 18, 2:33 PM
    • 1,665 Posts
    • 63,772 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
    • 9,378 Posts
    • 14,453 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
    • 742 Posts
    • 587 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
    • 1,358 Posts
    • 957 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
    • 3,381 Posts
    • 2,475 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
    • 5,633 Posts
    • 4,880 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
    • 837 Posts
    • 778 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
    • 621 Posts
    • 3,479 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!
    June GC £218.09/ £300; July GC £259.17/ £250 ; August £130.47/£240
    Aug NSD target 6/20. Aug Bring Your Lunch to Work Target 5/11 Aug £1 a day £57.94/£31
    Cashback YTD £4.34- claims in for £38.91 untracked cashback. Tesco CC £8000 0% 30mnths, First Direct CC £4500 0% 18mnths
    • worried jim
    • By worried jim 6th Aug 18, 10:33 PM
    • 9,378 Posts
    • 14,453 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
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