This just came out from Reuters The Canadian dollar reached parity with the U.S. currency for the first time in 31 years on Thursday, according to Reuters data, supported by lofty commodity prices, a strong domestic economy and concerns about a U.S. economic slowdown. The Canadian currency has been threatening parity for most of 2007, but a number of factors have aligned recently to give it a boost to the key level, including recent rate cuts in the United States. The push on Thursday came as the U.S. dollar slumped to a record low versus the euro, allowing the Canadian dollar to briefly touch the historic level versus the greenback. The Canadian dollar, also known as the loonie, has rallied more than 60 percent since dropping below 62 U.S. cents in 2002, driven largely by the broadly weakening U.S. currency, and by soaring oil and metals prices, which have fueled Canada's resource-heavy economy.
The dollar is great news... but beware!!!! ; While the high dollar is great news for theose of us who travel south and cross border shop... it can be devastating on industries that focus on exports to the U.S. ; I'm getting worried about the overall economy. That being said.... ; I'm stocking up on some U.S. cash!!!!! ;
I drop all my change (except pennies) in a can on my dreser every night. ; I usually roll a couple of hundred dollars every few months. ; It's amazing how fast it adds up and you don't miss it. My wife would never be able to save it this way... and she admits she'd spend it. ; Right now, I almost have enough to pay for our resort and park tickets!!! ;
I would love to do this but it is really hard when you use debit all the time. I've had a $20 in my wallet for over a month now.
I have the same problem, never any change so I set up an automatic transfer into my trip account (savings account that cannot be easily accessed)every week you don't even notice the money moving out after a while. Paid for my last trip that way. I use TD bank but I would think you could do this with most banks that offer online banking.
I find I always have a little cash on hand (for important things like Timmies). And it's really amazing how fast it adds up. ; I use debit a lot, but still like cash. I also have an automatic w/d set-up (through ING). ; It's easily accessible if I really need it, but I don't see the $$$ sitting there when I log in to my regular accounts. ; Out of sight, out of mind. ; $50/pay adds up quick too. ;
I do the same thing, except that I am the wife, but I don't spend it! ; I save it!!!! ; I pick up every penny and into the jar it goes! ; Wondering when my DH will figure out where his change disappears too. ; I always put it towards a vacation!
Try living with the Stelmach government. ; Nice that he wants to improve the economy, the way he is doing it effects so many jobs. But anyways I am still excited to see the dollar climbing, especially with a trip to the US so close. ; The dollar opened today at over $1.04 and they are predicting that it may surpass the highest which was over $1.06.
what gets me is that retailers are so slow to catch up - sure I get it, they paid for goods with higher dollar; but there is quite a crowd of Canadians headed to the US to do some Christmas shopping on Nov.11th weekend. ; Canadian retailers who don't follow suit (with the high dollar) and lower prices that are charged Canadian consumers are going to suffer big time. Story in Ottawa Citizen - one local bookseller (small independent guy) started charging Canadians the price listed on back of book in USD (you know how there are 2 prices listed, and the USD is always considerably lower than CDN) - he's hitting a homerun with the traffic that's coming to his store.
