As an expat family here in Seoul, holiday gift shopping is no longer just a question of who to buy gifts for.
When before I would just list down all the people that we want to give holiday gifts to (and cross out some names lest we come out penniless after the holidays), this recession season requires us to decide where to shop for these gifts. You see, we have to do the math based on the currency conversions both of the won and the Philippine peso against the US dollar.
Off we (my husband and I) went to Namdaemun last Saturday to buy our christmas gifts for the kids back in the Philippines. Yes, after doing our math, we figured that it would prove cheaper for us to buy here rather than convert the deeply affected Won to dollars and upon arriving in the Philippines, convert the US dollars to Philippine peso. If we are earning US dollars, then the “splurging” will be in the Philippines. But, of course, 1USD is now almost Php50.00. It is a far cry from last year’s 1:41.
We’re almost done. By this week’s end, we should have marked everyone in the list. Can’t afford to spend much for the holidays. Recession.