Money Monday II: The Dollar Strikes Back

I’ve been sitting here trying to think of something funny to write–something having a little kinship with my allusion (above, in the title, if you somehow missed it) to George Lucas’s brilliantly conceived Star Wars sequel (wow, it’s been a while since those words have been said, huh?)–but I’m coming up with nothing.  Nada.  Zilch.  Zero.  Punch it Chewie, I’m done.

What I set out to blog about today is obvious: money.  Jenia and I have been discussing finances a bit today.  Always depressing.  At least it is for me–maybe you come from better circumstances or the Lord has been kinder to you in that regard.  Anyhow, regardless of how far down the road to financial failure any of us maybe, the wife and I are managing to squirrel away a decent amount of savings.  That would be because at heart, we’re both cheap, penny-pinching Scrooges (sorry, honey, but you know it’s true).  It would also be because when I arrive in Abu Dhabi, I’m supposed to have a couple grand to make it through the month, to last me until my first pay period.

Now, different people advise you to take different amounts of money.  So I’m sure that with my miserly ways, I could probably survive on about ten bucks, but we want to be safe.  In all seriousness, folks have said that a thousand dollars can get you by until your first pay check.  We’re playing it safe and trying to put back about twice that, so that in case there are any unexpected financial burdens that rear their freakishly ugly heads, we can tame them without any undue stress.

We do not want this to happen!

Let’s shift gears a little bit from actual money in the bank, to the sort of spending device which causes many people to have virtually no money in the bank, and which can easily lead to a complete lack of financial security: a credit card. We all have them, we all know they’re great if handled wisely.  In a way, a credit card is kind of like a pen in George Lucas’s fingers: it can be responsible for some great material, but if the individual wielding the thing gets stupid with it, the outcome can be pretty disastrous.  Oh, boy, look at me tossing Star Wars references around like The Phantom Menace just came out a couple months ago.  Hm.  Actually they did re-release it in 3-D round about March, didn’t they?

Jenia and I, anyway, are Discover card people.  Not because of any particular preference, but it’s just ended up that way.  I’ve been really happy with my Discover experience, but Discover is an unknown quantity in many countries abroad.  When we went to London over Christmas, the card was useless.  Nobody in England takes Discover.  And I do mean nobody.  It appears that England and the Emirates have something in common (besides trying to teach their young English with varying degrees of success): Discover is, well, undiscovered.  So since we’ll be unable to use our credit card there, we spent some time digging around on the internet for a good card which works abroad (Visa or Mastercard is fine in that respect).  If you watch more TV than I do (which is likely, because, if you haven’t figured it out yet, the only thing I’ve ever watched is obviously Star Wars), you may have seen Alec Baldwin hocking Capitol One’s Venture Visa card.  Turns out that Capitol One’s Venture cards have no overseas use fees, which is wonderful.  And they’re Visa cards, too, so they’ll work most everywhere.  Partly because the card will simply work overseas, and partly because they have a pretty stinkin’ good rewards program, we decided to apply for one.  Look what came in the mail the other day:

New Venture Card–no, you cannot have my card numbers. Get your own.

Not only did Capitol One approve me for a card, they set my credit limit at fifteen thousand dollars.  Yikes!  I can just imagine how much they’d like for me to spend a sum that large–they’d be making big bucks off me, as I struggled to pay off my balance.  That’s right, even in Abu Dhabi, I will not be paid well enough to pay of a fifteen thousand dollar credit card bill overnight.  Fortunately for me, the folks at Capitol One didn’t know what a ridiculous tightwad I am.  Please don’t go and tell them.  They might revoke my card when they realize they’ll never make a penny off me.  I know how to work a rewards card, baby.  Or so I say.  Those sound like famous last words, don’t they?  I wouldn’t want to be cocky.  But used right, a rewards card can really work for you, and that’s how we intend to use this one.  We’ll not make any silly purchases with it.  We’ll pay it off every month, and the little buys we make will add to the rewards balance, and in a while, we’ll have free airfare to somewhere interesting.

Anyway, with the savings account growing and a credit card that will work overseas, I think we’re going to be financially prepared for our upcoming adventure.  I think that should do it for this entry.  May the force be with…never mind.

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3 thoughts on “Money Monday II: The Dollar Strikes Back

  1. I was laid off in July from my college librarian job and fortunately got 3 months severance which I put into my savings account. Strangely right after I got laid off I was offered an Amex rewards card with zero interest until August ’14 and an $8K credit limit and a Capital One Visa card with zero interest until April ’14. I have been getting by on unemployment and these cards and haven’t had to touch my severance. Hopefully I will be settled in Al Ain and getting regular paychecks by the time April ’14 comes around. I should have about $5K net to bring to Al Ain.

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