Coping with the weak US dollar?

[KaraInCuffs]

Not so long ago the US dollar was on on par with the euro. Now the exchange rate has been getting worse with every period.

Today, Paxum would give me €0.83 for $1.

If the news is to believed, it is a 2 year low for the dollar against the euro.

This question goes mostly out to international models.
Do you too 'feel' the conversion rate loss due to the weak dollar? Does it at all concern you? Are you trying to make up for it on the income side?

 

[JessaBella]

the CAD is .80 for $1 USD.... im scared

 

[SaffronBurke]

Something, something, blame Trump?

 

[JerryBoBerry]

Looks like normal market fluctuations.

 

[Luckyfoxxy]

Euro-usd falls and your finances are affected? THAT'S CUTE
Reason 1 I'm moving out of UK.

 

[EspiKvlt]

I'm still upset about how much the pound dropped after Brexit happened. I work for a UK modelling site and I used to make double what I make now.

 

[Alex_M_21]

I've definitely noticed it when I am using my firstchoicepay card. Especially at an atm.

I think the UK is worse off though, online shopping on Amazon.co.uk has gotten a lot cheaper.

 

[Dan Epstein]

Modeling is steadier than Forex. Trust me you do not wanna go down that binary alley...
Alex, if you'd like me to assist with ATM questions, you know where to find me.

 

[MiaFoxUK]

ATM is a cashpoint ATM is a cashpoint... stop being rude Mia

 

[Dan Epstein]

ATM is a cashpoint ATM is a cashpoint... stop being rude Mia

Laughed my off right now!

 

[Alex_M_21]

Modeling is steadier than Forex. Trust me you do not wanna go down that binary alley...
Alex, if you'd like me to assist with ATM questions, you know where to find me.

Thanks, it's the exchange rate though, nothing wrong with firstchoicepay.

 

[Marissa Frost]

the CAD is .80 for $1 USD.... im scared

ugh it friggen suckkkss

 

[GoAskAlex]

the CAD is .80 for $1 USD.... im scared

As a Canadian I've always been keen to receive my cheques in USD - because with the exchange rate I've always received a 30% bonus! On every thousand that's an extra $300 I can put in my savings, which is huge. I believe the USD is projected to drop further by Autumn - but as long as we are still earning an extra 10-20% it still seems worth it to me! It's definitely a bummer to not be earning *as much* more off of the USD, but it's still a raise.

That being said I imagine for US citizens it's a lot freakier? I'm keen to hear how it's challenging models from other regions as I am not super connected to European/International models!

 

[KaraCuffs]

So it appears that this exchange rate is affecting many of us outside of the US!
Hmm, I wonder how difficult my taxes will be to file, being in Europe, as a US citizen, making USD. Looking forward to April 15, sigh, haha.

 

[MiaFoxUK]

Tax wise in the UK we have to use the hmrc exchange rate at the time the funds are received ie hit the payoneer card. So we technically pay tax on some money we dont get because the hmrc conversion rate is more favourable than First Choices.

At the moment I think it works out well for foreigners getting paid in USD but many British guys I know have said they won't use USD sites til it's a more favourable rate to purchase. Yet another way Brexit is messing things up, but that's another thread

 

[Dan Epstein]

Tax wise in the UK we have to use the hmrc exchange rate at the time the funds are received ie hit the payoneer card. So we technically pay tax on some money we dont get because the hmrc conversion rate is more favourable than First Choices.

At the moment I think it works out well for foreigners getting paid in USD but many British guys I know have said they won't use USD sites til it's a more favourable rate to purchase. Yet another way Brexit is messing things up, but that's another thread

Hi, I'd really like to know better about the trail of exchange and deductions you describe. Should you wish to assist me in providing a better help to our UK based models, you know how to reach me. Thanks!

 

[IsabellaSnow]

I think if anyone started camming from Europe or England a year ago then yeah, you walked into the land of a sweet deal! Let's just put it this way, for 20k tokens on MFC you make $1000. When I started camming I would get between £550 and £650 for that, this was the same for years. About a year ago when I came back to camming the pound started to drop and the dollar was high, I then started making £850 for my 20k tokens. Now I make about £750. So yes, it has dropped, but I am still making an extra £100-£200 more for my tokens than I would have a few years ago. I wish in many ways that I had been able to utilise camming more last year to get in on the great exchange rates, and I am hoping that the USD won't drop more and the pound won't rise more for the next year as I am aiming on camming full time to save. Exchange rates rise and fall all of the time, it just so happens that the USD became particularly strong for a while, which coincided with England going through Brexit. So I am not scared, camming is still great money, but it would suck if the dollar continues to drop as it makes a significant difference in the long time to earnings.

 

[Dan Epstein]

I just wish to know if there's something I can do to help