Money: Pesos Vs Dollar While Living Abroad

Decisions that can drastically change someone’s life are never easy decisions to make. Getting married, starting a new job, or purchasing a house are some examples of the different scenarios someone can see as challenging. Those are scenarios that even though someone may plan to obtain a positive outcome, it is only at the end that you could analyze the results. Living abroad is one of those difficult decisions some can make because there are a lot of differences in terms of finances and costs of transportation, and even foods are some of the problems in a new country. 

Money is a critical factor for someone who wants to live abroad. For example: when traveling to Colombia, you need to have Colombian pesos or in the U.S. you need U.S. dollars.
There are multiple factors that need to be considered; one of them is the currency and the ability to understand how to spend money in a different country. People who live in Colombia and decide to move to the U.S. need approximately 3 times more money because U.S. expenses are higher than in Colombia.

Another crucial factor is the cost of transportation. Almost everyone knows that time is an important resource; especially when it involves being on time for work or for school. For someone who is going to live abroad, taking public transportation is a good option. The U.S. has a public transportation and its cost approximately three dollars per route. However, it does not cover all places. On the other hand, Colombian transportation covers all the city for eight hundred Colombian pesos., which is approximately twenty-two American cents.

Living abroad involves important changes, food is one of them. Most of the times, American people eat outside their homes. A meal prepared at home could be around five dollars per person. This is significantly different from Colombian food that when is made at home could be around three dollars (This is two thousand-seventh hundred Colombian pesos.)

Someone who is going to live for a long period in a different country needs to learn the different types of currency in which the country operates and how it converts to the individual’s currency country of origin. Also, it is important for someone to learn how to spend the money because it is a completely new country, the individual needs to learn which places are cheaper, how the transportation works, and which foods to eat.