SavvySugar -- It Makes Sense.

Guess Which Country's Currency?

SavvySugar — Sun, 30 Nov 2008 07:00:57 -0800

Guess Which Country's Currency?

SavvySugar — Sun, 23 Nov 2008 07:00:51 -0800

Guess Which Country's Currency?

SavvySugar — Sun, 16 Nov 2008 07:00:01 -0800

Guess Which Country's Currency?

SavvySugar — Sun, 09 Nov 2008 11:00:29 -0800

Guess Which Country's Currency?

SavvySugar — Wed, 05 Nov 2008 04:30:21 -0800

Guess Which Country's Currency?

SavvySugar — Sun, 02 Nov 2008 11:00:32 -0800

What the Dollar's Comeback Means For Americans

SavvySugar — Wed, 29 Oct 2008 14:45:20 -0700

Hey now, look who's making a comeback! The dollar has strengthened significantly compared to most currencies except the yen, and this month alone it has gained 11 percent against the euro. It could be a temporary trend that disappears as quickly as it happened, but The Wall Street Journal helps us understand how the current comeback affects Americans.

Investors: Because a stronger dollar pushes down the value of foreign assets, overseas investments will take a hit.
Consumers: A strong dollar will make imported goods cheaper, but any potential discounts depend on how flexible brands are with their suggested retail prices. While it's up in the air if the price of European designer goods will come down, the cost of European wine should fall 10 to 15 percent. Expect European auto makers to remain resilient to a strengthened dollar.
Travel: International airfares aren't budging yet but this could change, and in general a stronger dollar is good for some Americans who are pleased about more affordable shopping abroad. The biggest bargain is Iceland — airfare is 21 percent lower than last year, and any service that requires labor like tours or spa treatments are about 50 percent lower.

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Guess Which Country's Currency?

SavvySugar — Sun, 26 Oct 2008 11:00:22 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 19 Oct 2008 07:00:59 -0700

How Much US Currency Circulates Worldwide?

SavvySugar — Tue, 14 Oct 2008 12:30:40 -0700

The Federal Reserve estimates that as much as two-thirds of US currency is held outside the US. In fact, for millions of individuals worldwide, US currency is a trusted source of savings, and many rely upon the American dollar for their daily transactions. Can you guess how much US currency circulates worldwide?

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Guess Which Country's Currency?

SavvySugar — Sun, 12 Oct 2008 11:00:16 -0700

Big Apple Attraction: Money Museum

SavvySugar — Thu, 09 Oct 2008 11:00:08 -0700

I am dashing to Manhattan for a quick weekend trip, and I'm hoping to visit the Museum of American Finance while I'm there. You all know how much I enjoy learning about currency and well, money in general, and this place is packed with money information. With exhibits like a history of US currency and a ticker tape from the Great Crash of October 29, 1929, I have a feeling this place will be up my alley. I'd love to take you with me, but here are some photos from the museum that give a great idea of the interesting exhibits the museum has to offer.

The Zero-Dollar Bill, in Limited Circulation

SavvySugar — Mon, 06 Oct 2008 06:30:55 -0700

When most people get angry about the economy they express themselves with choice words, and artist Laura Belkin responded on a whole other creative level. The Manhattan artist is protesting by using her art as a statement about the US financial crisis.

Tomorrow, Laura will be on Wall Street distributing the 10,000 zero dollar bills she made. The bills are slightly smaller than the one-dollar bill and each one is original, signed and numbered by the artist. Laura created the zero-dollar print because she views the dollar bill "as symbolic of America’s stature in the world," and stripping it of its value is a criticism of the current American economy. What do you think of the print she created?

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Guess Which Country's Currency?

SavvySugar — Sun, 05 Oct 2008 11:00:29 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 28 Sep 2008 11:00:11 -0700

Which US Currency Denomination Will Be Redesigned Next?

SavvySugar — Sat, 27 Sep 2008 09:04:07 -0700

The new(ish) purple and green five dollar bill was released into circulation this year. The makeover was actually an attempt to foil counterfeiters and includes two new watermarks and an enhanced security thread that will help businesses and consumers validate the new bills.

Do you know which currency denomination is slated for a redesign next?

Unveiled! Lincoln's One Cent Makeover For His 200th Birthday

SavvySugar — Thu, 25 Sep 2008 11:00:23 -0700

Earlier this year the five dollar bill featuring Abraham Lincoln's face was given a purple makeover, and now the US Mint is introducing not one but four new penny designs! Abe would be turning 200 next year and the occasion is being honored with the release of the new pennies, and it's the first time the penny has been altered in 50 years.

Lincoln's profile will remain as we've known it on one side of the penny and the other side will feature new images. The first of the four designs will be released into circulation starting on Feb. 12 (Abe's birthday) and a different penny will be introduced every three months. The different images depict a log cabin, a young Lincoln reading a book, Lincoln as a young lawyer in Springfield, IL, and a half-completed Capitol dome.

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Guess Which Country's Currency?

SavvySugar — Sun, 21 Sep 2008 11:00:31 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 14 Sep 2008 07:00:04 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 07 Sep 2008 11:00:44 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 31 Aug 2008 07:00:09 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 24 Aug 2008 07:00:25 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 17 Aug 2008 11:00:44 -0700

New Yorkers Feeling Euro-Envy This Summer

SavvySugar — Tue, 05 Aug 2008 04:04:33 -0700

To understand what's happening with the dollar right now, you need only walk around the shopping centers of cities like New York and San Francisco. At first glance you'd think that Americans were busy blowing their dollars on whatever they please, but given a closer listen, you'll find these shoppers aren't American at all — they're European.

The New York Times examined the reactions of some Manhattanites who have come down with a collective case of Euro-envy this Summer, as they jealously watch European shoppers have at the city. The dollar's weakness compared to some currencies abroad has allowed travelers earning even modest incomes to enjoy all New York has to offer.

One 30-year-old New Yorker explained his feelings about his purchasing power: "It’s Psych 101 — jealousy. I’m jealous that I can’t go to Italy and buy 12 Prada bags, but they can come here and buy 18 of them." Another woman said her European friends visit New York and treat it like it's Candyland. While some New Yorkers are apparently a little bitter, all of the international traffic can only be good for the economy and for business owners who are able to profit.

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Guess Which Country's Currency?

SavvySugar — Sun, 27 Jul 2008 11:02:13 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 20 Jul 2008 11:05:39 -0700

Guess Which Country's Currency?

SavvySugar — Tue, 08 Jul 2008 09:35:57 -0700

Guess Who? Five-Cents

SavvySugar — Fri, 04 Jul 2008 10:54:00 -0700

Whose face is on the front of this coin?

Guess Which Country's Currency?

SavvySugar — Sun, 29 Jun 2008 07:06:35 -0700

Hint: This currency is no longer used because the country converted to the euro in 2002.

Guess Which Country's Currency?

SavvySugar — Sun, 22 Jun 2008 07:02:31 -0700

Guess Which Country's Currency?

SavvySugar — Sun, 15 Jun 2008 07:09:25 -0700

Which country uses this currency?

How Money Are You: Euro Trivia

SavvySugar — Thu, 12 Jun 2008 11:04:53 -0700

This month the euro celebrates its 10th birthday, which means there's no time like the present to refresh what we know about the currency. How money are you?

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Guess Which Country's Currency?

SavvySugar — Sun, 08 Jun 2008 07:09:09 -0700

You'll find this currency passing hands in which country?

Guess Which Country's Currency?

SavvySugar — Sat, 24 May 2008 11:12:41 -0700

What country uses this currency?

How Money Are You: Currencies of South America

SavvySugar — Wed, 14 May 2008 11:28:47 -0700

Lately, when I'm not thinking about all things Savvy, my mind has been wandering to South America. More specifically, I've been trying to nail down my to-be-determined honeymoon locale. Because I have all of this somewhat newfound knowledge, I wanted to share some money facts about the continent. Take this quiz to see how much you know about South American currencies!

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Ask Savvy: How Can I Save Money on My European Vacation?

SavvySugar — Thu, 08 May 2008 11:27:07 -0700

Dear Savvy,

On June 10^th I'm leaving to go to Europe for two weeks with my roommate. Her family is loaded, but mine? Not so much. I've been working a lot but since I'm in college, I really am trying to have a budget. Basically, do you have any tips on saving money while there? I'll be going to London, Paris, and Rome for four days each. All I've heard about is how awful the exchange rate is so I understand I'll be spending a significant amount of money. I think there are different currencies in London than there are in Paris and Rome, so I'm assuming I'll need different types of money as well. I could use any advice you could give me, like should I use my credit card overseas — basically any kind of money saving tips! I'd really appreciate it!

To see my answer just,

Congress Considers Bringing Back the Steel Penny

SavvySugar — Thu, 08 May 2008 04:22:26 -0700

As it exists in its shiny copper and zinc state, the penny costs more to produce than it's actually worth. The rise in prices of such metal commodities has initiated conversations in Congress about reverting to the steel penny used during World War II. The future of the nickel's composition is also in question as it currently costs 7.7 cents to make, while the penny's cost is 1.26 cents.

It's estimated that the coins set taxpayers back $100 million just last year, which is why on Tuesday the House debated a bill that would prompt the Treasury to come up with nickels and pennies that are more economical. A vote on the bill is expected to take place later in the week. In case you're curious, the Mint says that the dime costs a little over 4 cents to make, the quarter costs almost 10 cents, and the dollar coin costs about 16 cents to produce.

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Savvy Solution: If the Alps Are Out of the Question, Here's Where to Travel

SavvySugar — Wed, 07 May 2008 09:57:45 -0700

YumSugar is always in good spirits, but her mood is even better than usual because of some recent news about Iceland. She's been wishing to revisit the country since her first fantastic vacation there in 2005, but her only gripe about the trip has also been the only thing preventing her from going back. She said, "It was a billion times more expensive than anyplace I'd ever been," but now that Iceland's currency has plunged against the dollar she can plan another trip!

The global credit-crunch has made its way into this country with a population smaller than Pittsburgh, and has caused Iceland's krona to plunge against the dollar this year. This is in stark contrast to the euro's upward trend that has held American travelers back from European excursions, but has brought a flood of euro carrying travelers on stateside shopping tours.

Wondering what it would be like to vacation in Iceland? Here's what Yum had to say: "I went on a snow-dog excursion, drove snowmobiles on a glacier, and traveled around on tiny roads that made it feel like we were on the moon." She also generously shared some of her photos — I never considered including Iceland on my list of places to visit, but her pictures have definitely caused me to reconsider! Check them out when you

How Money Are You: Mexican Money

SavvySugar — Mon, 05 May 2008 10:53:12 -0700

Happy Cinco de Mayo! Before you reach for a celebratory Corona, take my quiz about Mexican money so that you can share your knowledge with your fellow fiesta-goers. Even if your score isn't deserving of a bottle opener to crack open that ice-cold Corona, enjoy the holiday!

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What $100,000 Would Have Bought 10 Years Ago

SavvySugar — Fri, 18 Apr 2008 15:35:08 -0700

You may not have thought about what $100,000 would have bought in 1998, being that many of us were at the prom and watching non-rerun episodes of 90210. But 10 years later, money is on all of our minds, and maybe we worry a little more than we'd like. Most of us have a much better understanding of the value of a dollar than we did back then and can now truly get a feel for some of the surprises in terms of what $100,000 would have bought in 1998. Click "Start Slideshow" to see what your hundred grand would be worth today.

Stop and Smell the Pennies

SavvySugar — Sat, 12 Apr 2008 11:04:34 -0700

It seems like one by one, the penny haters are emerging from the cracks and making their stance known. First it was Treasury Secretary Henry Paulson, then Senator Barack Obama, and most recently Stephen Colbert interviewed Jeff Gore who's the founder of Citizens for Retiring the Penny. His main arguments against the penny are that it costs more than a penny to make a penny and that it takes a lot of time to handle the penny during cash transactions. Colbert and Gore address corresponding issues like how we'd adapt to life without pennies and the fate of take-a-penny-leave-a-penny dishes. Watch:

Who Has Cooler Coins? US vs. Royal Mint

SavvySugar — Thu, 10 Apr 2008 14:01:39 -0700

The US Mint and the Royal Mint have both completed a couple of exciting projects recently — the purple five is now in circulation on this side of the pond, while there's a whole new set of artsy coins being generated for circulation this Summer on the other side of the Atlantic. The back of Britain's small change has been redesigned for the first time since 1968, and when aligned properly the six coins form the outline of the royal shield of arms. The value of the coins notwithstanding, which would you prefer jingling in your purse? Source and Source

Who Has Cooler Coins? US vs. Royal Mint

US Mint!

Royal Mint!

I don't have a preference.

Want to Know What's in My Wallet?

SavvySugar — Mon, 07 Apr 2008 08:31:34 -0700

The new purple (and green) five dollar bill was released into circulation a few weeks ago, and I was finally lucky enough to get one in my hands! I think the front of the bill could use some more purple, but other than that the new bill didn't disappoint my high expectations.

Abe's makeover has made the new five significantly more sassy than the other older, less colorful bills. In the gallery below you can see how the new five compares to several of the existing bills, including the hundred, twenty, ten and the one dollar bill. I've also pointed out some of the differences I can see among the various bills. Have you gotten a hold of a new five yet?

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Guess Who? Just Can't Quit the Penny

SavvySugar — Fri, 04 Apr 2008 07:57:27 -0700

“We have been trying to eliminate the penny for quite some time — it always comes back. I need to find out who is lobbying to keep the penny.”

United States May Be a Bargain, But Is Lacking in Brains

SavvySugar — Mon, 31 Mar 2008 13:05:01 -0700

The US has become more cost competitive than ever before and has therefore moved up on the list of the most cost-efficient places in the world. The plunging dollar has made the US a cheaper place to do business than France, Britain, the Netherlands, and Italy.

The value of the Canadian dollar, Australian dollar, British pound, and other currencies have increased in double digits compared to the dollar, but Mexico is still the cheapest place to do business. The cheapest places in the US are Atlanta, Tampa, and the Dallas-Fort Worth area.

So if more businesses keep their factories in the US, will there be enough workers to fill their needs? AT&T has found that so far, the answer is no. The company has promised to bring 5,000 jobs from India back to the States but hasn't been able to find enough skilled workers to fill the positions. AT&T Chief Executive Randall Stephenson said he's especially alarmed by high school dropout rates as high as 50 percent in some areas. He explained, "We're able to do new product engineering in Bangalore as easily as we're able to do it in Austin, Texas. I know you don't like hearing that, but that's the way it is." His solution? A stronger US focus on education and keeping jobs — no small feat.

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News Flash: Amsterdam Doesn't Want Your Dollars

SavvySugar — Thu, 20 Mar 2008 09:53:07 -0700

Small currency exchanges in Amsterdam are refusing to exchange dollars because they're worried the shrinking currency will be worth even less by the time they're able to sell it. Tourists looking to sell their dollars in exchange for local money have to resort to larger exchange counters while they're on vacation. While it may not be the most convenient reality, exchange rates are generally best at banks, anyway. Meanwhile, the euro has remained strong and has risen 18 percent against the dollar in the last year.

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News Flash: The Purple Five Is Now in Circulation!

SavvySugar — Fri, 14 Mar 2008 06:27:44 -0700

Last month I told you how excited I was that the five dollar bill was getting a purple makeover, and I'm happy to announce that it's now in circulation! The Federal Reserve has started sending the fancy fives to banks, the banks then issue the bills to businesses, and eventually they'll make it into the hands of you and me. Of course the old fives will remain in circulation until they wear out, and the new purple accents will stand out even more when we compare them side by side. High five!

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Ask Savvy: Tips For Traveling Abroad

SavvySugar — Tue, 11 Mar 2008 09:24:36 -0700

Dear Savvy,

I will be going to the UK this spring, my first international trip in many years. Do you have any tips on exchanging currency, or using debit or credit cards overseas? The dollar is low right now (as you know) - does that change anything I should be doing?

To see my answer just

News Flash: The Treasury Secretary Hates Pennies, Too

SavvySugar — Mon, 03 Mar 2008 08:26:36 -0800

When asked on Friday about his opinion on the penny, Treasury Secretary Henry Paulson implied that it would make sense to eliminate the penny when he said, "The penny is worth less than any other currency." That is, if it were viable politically — he added that he doesn't intend on taking any action against the penny this year.
While there hasn't been serious talk of the penny's ultimate fate, last year there was a proposal introduced in Congress to change the metal content of all U.S. coins in order to save a dime. Officials said that taxpayers could save up to $100 million annually if the metal content in just the penny and the nickel were altered. I've never been one to shun the penny — I think it has something to do with its lucky-heads-up reputation — but there are plenty of people other than the Treasury Secretary who find the penny to be an annoyance.

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News Flash: On a Euro High

SavvySugar — Thu, 28 Feb 2008 06:11:21 -0800

Yesterday, the euro's value hit its highest point against the dollar since it was introduced in 1999. The currency is valued at $1.5057 and analysts say it could move even higher than its current record. The euro's escalation is attributed to negative economic reports from the U.S. including the lowest consumer confidence levels since 2003 and higher wholesale inflation. There's speculation that the Fed may cut interest rates lower even after its big cuts in January — the cuts are intended to fuel the economy but could also have the unwanted effect of pushing the dollar's value lower.

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