I don't get to travel much. Or, more correctly, I'm not that fond of travel. In either case only a couple of times in my life have I been outside of the U.S. So I'm not an expert at currency exchanges. But I do know that having the correct currency is essential if you're going to complete a transaction successfully.
For instance, years ago my wife and I visited Mexico. Some places would allow you to make purchases in dollars. But, many required pesos. In those places you couldn't use your dollars to make a purchase.
I remembered that the other day. It occurred to me that there are times in our financial lives that we try to use the wrong currency and we can't complete our transaction.
Here's an example. A book that my wife and I shared about improving your marriage stated that each person had a 'love language' and to please your partner you needed to know what that language was. For instance, my wife's language was service. So if I wanted to demonstrate love to her the currency I would choose would be service (i.e. filling up the gas tank on her car). Other things might be appreciated, but they would be the wrong currency and wouldn't be regarded as highly.
Or can you relate to this case? Suppose that I'm feeling disrespected at work. My boss just doesn't recognize how much I contribute. So I stop at the mall on the way home and do a little shopping. I spot a good looking necktie and buy it. After all, I deserve it! But, will that tie really make me happy? What I needed was respect. A tie is probably the wrong currency and won't fill that need.
Have you ever considered why you make the purchases you do? Not the required things like filling the gas tank and paying the mortgage. But the clothing, entertainment, and other non-essential spending. You may have a 'need' but are you using the right currency to meet that need? It's quite possible that a purchase is the wrong currency.
So if you find yourself looking at your credit card statement and wondering why did I buy all thise stuff you might want to ask if you're using the right currency. It's just possible that you're spending dollars, but that they can't buy what you're really needing. And recognizing that could be the biggest financial event of your year. In fact, it could change your whole financial future.
I'd love to hear other 'currency exchange' stories. If you have one please send me an email. Who knows? You might help someone identify their own currency exchange problem.