When a Dollar's NOT a Dollar

To be frank, I resent the fact that a dollar is still just a dollar in the US, while here in Europe a dollar is only about 0.68€ cents and going down... fast!

At the end of June this year were were able to close our fiscal year with $1 equalling 0.76€ cents. How far the dollar has fallen since then! In fact, the biggest drop has happened in just the last two months. The all-time low was hit just last Saturday (rates according to Oanda.com):

Saturday, November 10, 2007
1 US Dollar = 0.68065 Euro
1 Euro (EUR) = 1.46918 US Dollar (USD)

Now when you're talking in one and two dollars, a few cents may not seem like a big deal. Well, let me put it into more noticable terms:

$100, still worth $100 of buying power in the US... but worth only €68.07 here

$500, worth $500 of buying power in the US... but worth only €340.33 here

$1000, worth $1000 of buying power in the US... but worth only €680.65

Let me flip this a little bit so that you can see what it means in terms of budgeting (especially if your books are in USD but your live and work in Europe):

Say in June you set your budget based on a higher than market rate ($1=€0.7353)... but as the year goes on and the dollar drops, this is what happens...

€500 rent budgeted for in June at $661.20 is now hitting your budget at the market rate value of $734.59. An increased hit on your budget of $73.39.

€25 phone bill budgeted for $33.06 is now hitting your budget at the market rate value of $36.73. An increased hit on your budget of $3.67.

€50 utilities bills budgeted for at €66.12 is now hitting your budget at the market rate value of $73.46. An increased hit on your budget of $7.34.

The €45 to fill up your gas tank (Unleaded) is now hitting at $66.11 when it would have only been $59 a couple months ago. An increased expense of $7.11.

Now these are just a few minor examples of every-day budget items. Looking at it, any one line item in itself may not seem like a big deal; however, when you add them up and over a period of time, the results are significant. In some cases it can mean thousands of dollars in less buying power for your budget.

Then there is your US bank account that you use to have money transferred here or withdraw money from an ATM. Each month that USD is decreasing in it's Euro value.

Say you have $1000 in your bank account. Well, back in June that was worth €756. That same $1000 today is only worth €680.

Or what if you're a business/NGO or other organization who has a US bank account, but keeps it's books in Euro? Well, that can result in huge losses on your trial balance as a result of revaluation each month as the dollar declines. For instance:

Say you have $100,000 in your US bank account....

In June it would have been valued at €75,620 on your trial balance.

In July that same amount would have been valued at €73,239. A loss of €2381.

In August that 100K would have been valued at €73,285. A slight gain of €46.

In September it would have been valued at €70,117. A loss of €3168.

In October the value would have been €69,396. A loss of €721.

If November were to close today, the value would be €68,265. A further loss of €1131.

Now if you add all those losses together, the resulting hit against your budget would be €7355. Or $10,805 less of your budget to spend.

Now, let me take this ranting of mine one step more personal. Say you get paid $900* a month. In June you would have had €680 for living expenses, savings, tithe, etc. This month, however, you would have €612. That hurts. Especially when you're trying to save for vacation and all nearby options use Euro...

So will the dollar EVER come back? Or will it continue to decline to the point of oblivion?

Thus I come to the end of this tale of woe of when a dollar is not a dollar.

*This amount is for example purposes only and it not necessarily a real amount.

Language Learning... in as few words as possible

Language learning can seem like a long and tedious process...

Language learning can get your tongue all tied up or your mouth twisted into seeminly unnatural contortions.

Му, го, ги, што?

Language Learning can make you feel like you're "doing hard time" in a prision of frustration and ambiguity...

"Hey! Where's my 'get out of jail free' card?!"

Language Learning can make your head feel like it's going to explode!

"Ќе ме пукене главата!"

Language Learning can have you putting the wrong things in the wrong places... many many mistakes which can become the fodder for funny stories (though many unshareable as you stumble across certain "words")....

"The direct, indirect, huh? goes where?"

Language Learning can seem at times to be moving along quite smoothly.... only to find you're going the wrong way...

But then there are those bright shiny moments of hope admist the seemingly never-ending darkness of Language Learning....

...Like when you go to the "Нотар" (pronounced "Notar" not "hotap") and can honestly answer "yes" when they ask if you understand the contract you just signed....

...of course it's not advisable to follow up that moment of triumph by demonstrating your language prowess like I did by saying, "Еден убав сончез ден, ќе разбирам се... но денеска не е донот за мене." Translation: "One bright sun-shiney day, I will understand everything... but today is not that day."

...Yet, the rays of that bright sun-shiney day of the future do extend to the here and now when you realize that you're able to share tangible hope with someone who is going through an extemely difficult time... in their own heart-language.

A moment just like that came for me just this past week as I was able to share with a dear lady, who has lost so much in this past year, hope from God's word and in her own language. How exciting to see the embers of hope growing within her as she shared with me a verse from the Bible that has really touched her heart... "Cast all your cares upon Him for He cares for you." ... and I was able to understand her thanks to Learning the Language.

That kind of fruit makes all the labor worth while.

This post is lovingly dedicated to my colleagues around the world who are in various stages of the journey towards that bright sun-shiney day. Please pray for us all as we journey along the curvy road that is Language Learning.

PS and please forgive me all the blatant uses of cliches and mixed-metaphors. ;)

The "dreaded" trip to the visa office

Every year I must face it... the dreaded trip to the visa office to submit my applications for residence and work. First, there's the mound of paperwork to prepare, notarize and sign. Then there's the waiting while a letter petitioning the Ministry of Something-Specific gets approved. The hike up 9 (NINE) flights of stairs to stand in a dark hall of some nameless frosted-glass door, awaiting your turn. The nervous waiting and answering dozens of questions as the official examines each and every document in detail... "Will they accept my application?" is the question that worries it's way through my mind every time.

Well, this morning the beautiful, warm and sun-shiney day should have been my first clue that this year would be different. After dreading the 9 flight hike, I found that there were two small elevators that would carry you at least to the 7th floor and then you'd just hike up the remaining two. So, my contact from the church and I squished into the sardine can with two others and slowly made our way up to the 7th floor.... I was trying so hard not to pay attention to the sounds (creaks, scratches, and rattlings) as some mysterious wire ushered us upwards...

Once reaching the 7th floor we wound our way around several windy, twisty hallways until we could find the stairs to take us the additional two floors up. Once outside the visa office, moments before we went in, my contact chose that moment to tell me something that she'd just learned. Aparently there is a new law that if your visa is expired you get into big trouble and can be taken to court. The rush of adrenaline that filled me was instant and powerful as we both knew that my visa had expired on the 1st and here it is the 13th. "Well," I thought, "whatever happens, happens" and entered the office with just a little trepidation.

The man who greeted us was not the usual person from years previous. My heart was dreading the questions and such to come as to why my visa had expired in addition to all the normal questioning.... But I held out my hand and gave a firm handshake and said, "Good morning, Sir." He smiled a really genuine smile, looked at my expired visa, noted it almost in passing, then asked if all the paperwork was there, saw it was and then said, "OK" and that it will cost such-and-such. With not so much as one question, one suspicious or evaluative glance or detailed examination of my documents, we were done. AND he was SO NICE and NOT AT ALL scary to boot!

As my contact and I left the office we just kind of stared at each other in bewilderment and then broke out into suprised happy giggles of relief and joy. SERIOUSLY, it's never been this easy nor gone this smoothly!!! Frankly, I'm still in a bit of a daze that it went so well.

Thank you for the many who were praying.