The recession may not be that great for Canada, with businesses such as a spa in Edmonton, downtown Toronto hotels, and even large chain stores having trouble making ends meet. But things are even worse in the United States, where they're still pouring billions of dollars into rescue packages for big businesses and the Iraq War. What this means for us as Canadians is that our dollar is finally comparing favorably to the US dollar, sometimes even exceeding it in value. This is a situation that begs to be taken advantage of.
Many people are taking this opportunity to make purchases from online stores in the United States in order to save on the hefty "import costs" that Canadian retailers charge for the same products. But the best way that you can take advantage of this great exchange rate is to leave your Newmarket homes and book a vacation to the United States. Everything you buy in US dollars, from the flight to the hotel to the souvenirs of your trip, will be a better value now than it was a few years ago when our dollar was worth only about 60% of theirs.
To take maximum advantage of the exchange rate, book your flight through an American travel agency (such as Expedia.com instead of Expedia.ca) and book with an American based airline (such as United instead of Air Canada). That way all your charges will be in American dollars. You'll still have to pay in Canadian dollars to take the Burlington airport taxi, but that can't be helped. You may also have to pay currency conversion fees to your bank if you use a credit card, but if the exchange rate is good enough it will still be cheaper than buying through Canadian companies.
Everything you do on your vacation will be cheaper now than it was. For maximum savings, book your vacation from your Vaughan houses not just during a time of dollar parity, but also during the off season for hotels. That way you'll get the cheapest rate. The credit card companies will want a cut of your spending if you're charging everything to a credit card and banks will want a fee when you withdraw foreign currency, so the cheapest way to pay is actually to take out large sums of cash on your bank card and use that to pay for everything.
Go shop crazy while you're there and buy everything you need for your North York homes down south where the prices are cheaper and there's no sales tax. Be careful not to exceed your duty free allowance though, or you'll end up having to pay sales tax on everything when you return to Canada.
| 