Friday, October 10, 2008

Pay cuts

here's what the currency exchange has done over the last year. When I arrived the AUD was worth about 86c USD. From there it went up, almost one to one, but it's always sorta hovered around that area. This means things in Australia are expensive relative to the US.

But recently, it's taken a serious dive. Today it's trading at 66c. This means a few things:

1. I'm rich! All my US savings, where most of my money is is worth almost 25% more than it was when I arrived, what a fantastic return!

2. I've gotten a serious pay cut. I knew leaving BCG would be a big pay cut, but every time the AUD falls it's like I'm getting another pay cut. Sorta hurts. Not sure what this will mean for my earning potential when I get back to the states.

3. Things just got a whole lot cheaper. So sure, my salary just took a nose dive, but so did my rent, my groceries and my tri fees. Sweet.

4. Now is a great time to be paying my aussie taxes with USD. Glad I've held off on moving that money over. Wonder what rate I use when I file my US taxes next year.

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