CENTRAL AMERICA
The new RVing Frontier!

Article #10 MONEY ISSUES - What About Them?
by Jim Jaillet - Copyright 2006 - All Rights Reserved

Article #1, CENTRAL AMERICA: You Can Do It!, discussed the importance of planning.
This aspect of  planning will help you to experience your trip with NO MONEY PROBLEMS!
In this article I will provide GENERAL money-related items before you cross the border
into Mexico.

"How much will I need?"  becomes the first question. The answer to the question: "How
long is a piece of string?" quickly followed by "...depends what you do with it!" No two
people travel the same. Prices also vary between countries.

In my case, I planned 10 months out-of-country time. I brought $5,000 in U.S. Dollars and
of that amount, $500 in small bills---$400 in 10's and $100 in 1's. The remainder of the
$5,000 in 20's. I did not keep any records of my expenditures, but for the way I travel as
a single person, I guesstimate about $1,000 a month. If you travel as two people, the food
costs of the second person and an occasional admittance fee should be the only additional
expense to that amount.

ATM's abound everywhere in Mexico and Central America except the smallest villages. To
avoid depleting my supply of U.S. Currency, once I arrived in a country I would use the
ATM's to get the amount of local currency I estimated I would need in consideration of
how much time I expected to spend in that country.  

"How do I change currencies for the different countries?" is most likely your second
question. Let's look at the three ways:

Banks:
Positive: Valid currency.
Negative: Effort to locate, usually LONG lines, sometimes hefty commission to change
money.

Casa de Cambio:
Positive: Valid Currency.
Negative: Effort to locate.

Border Crossing Money Changers:
Positive: Very easy to find, Convenient.
Negative: Usually many, in-your-face atmosphere, possibility of invalid currency, altered
calculator keys, and sleight-of-hand counting methods. Let's look at the last three items
more in detail:

Possibility of invalid currency: This is a true story! It happened to ME at the Costa
Rica/Nicaragua Border Crossing. I needed to change about $400 of  Costa Rican Colóns
into Nicaragua Córdoba. The money changer tried to give me several $1,000 Córdoba bills
(each about $64.00 U.S.). Not wanting that many large bills, I agreed to take one. Later
when  I stopped for gas and gave the attendant my $1,000 Córdoba bill, it became readily
clear he did not want it. I asked to speak to El Jefe (The Boss), who spoke some English
and he explain its WORTHLESS VALUE! It turned out to be old Sandino Revolutionary
money and the $500 Córdoba bill is now the largest legal bill in Nicaragua. The Border
Crossing Money Changer knew this and literally "slipped it to me!" Of course, how could I
know its worthlessness?

Altered Calculator Keys: According to my guidebook some money changers change the keys
on their calculators so they can cheat unsuspecting tourists. ALWAYS USE YOUR OWN
CALCULATOR TO CONFIRM THE CORRECT AMOUNTS!

Sleight-of-hand: Just like magicians, border crossing money changers notoriously make
money "disappear" using fast-counting methods. ALWAYS CAREFULLY COUNT THE
MONEY HANDED YOU PRIOR TO HANDING OVER YOUR MONEY!

Other General Money Issue Tips:

Two Bank Accounts: A friend who does a lot of world travel recommended this tip. I owned
no credit cards and only one debit card. She advised splitting the money in my debit card
travel account into two accounts with two separate debit cards. She said: "If you lose or
are robbed of your only debit card, you are out of business!" She was right and I did as
she advised.   

Small Bills/Change: You will find it advisable to always keep a good supply of small bills and
change. It is not uncommon to buy something with as small as a $5 bill and the shopkeeper
cannot make change. Best to keep a few U.S. $1.00 bills with you.

ATM's: Whenever possible, use one at the bank location. If the machine "eats" your card,
retrieval becomes a whole lot easier than from a satellite location which can take weeks!  

Final Tip: Whenever you leave a country for the last time, get rid of any currency. The
further you get from a country, the less the value and, in some cases, exchanging it
becomes nearly impossible.

Don't miss the next installment "FOOD/WATER ISSUES - What About Them?" in which
I'll discuss the considerations for avoiding food and water problems. Stay tuned and
remember my promise at the beginning of Article #1........................... YOU CAN DO IT!
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Jim Jaillet is a full-time RVer, Adventurer and Author of PANAMA OR BUST - A 343 day
adventure in a motorhome!

You can claim your copy of my book for only $19.95 at http://www.panamaorbust.com

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Disclaimer: The author in no way can guarantee your safety in Central America. After all
they are Third World countries and not without danger or the possibility of death. You go
at your own risk. The author is only suggesting that with some planning, common sense and
caution you may minimize your potential dangers and be rewarded with countless cultural
experiences. :)

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