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bdawg
Joined: 25 Feb 2004
Posts: 526
Location: Nanjing
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 Posted: Sun Mar 12, 2006 6:12 am Post subject: |
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| Keep in mind that the RMB is essentially monopoly money outside of China, and unless you are saving to repay debts, you might as well use the cash here, as you'll get far more bang for it. |
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andrew_gz
Joined: 15 Feb 2005
Posts: 502
Location: Reborn in the PRC
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| Posted: Sun Mar 12, 2006 3:26 pm Post subject: |
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"RMB is essentially monopoly money outside of China"
Silly!
8 of 'em will get you a buck.
And they all add up. |
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Yu
Joined: 06 Mar 2003
Posts: 1219
Location: Shanghai
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| Posted: Sun Mar 12, 2006 4:03 pm Post subject: |
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Funny, I still think of it as play money with the colors an all... and I am in China.
Green ones
Purple Fives
Blue Tens
Orange Twenties
Green Fifties
and Red hundreds.
Fortunately, I get more than 1500 of it a month.
I have never seen a 500 in China, I have heard they exist, but dont know what color they are... |
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7969
Joined: 26 Mar 2003
Posts: 5782
Location: Coastal Guangdong
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| Posted: Mon Mar 13, 2006 1:14 am Post subject: ..... |
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| Yu wrote: |
Funny, I still think of it as play money with the colors an all... and I am in China.
Green ones
Purple Fives
Blue Tens
Orange Twenties
Green Fifties
and Red hundreds.
Fortunately, I get more than 1500 of it a month.
I have never seen a 500 in China, I have heard they exist, but dont know what color they are... |
you must be american. |
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amandabarrick
Joined: 30 Dec 2004
Posts: 391
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| Posted: Tue Mar 14, 2006 8:41 am Post subject: |
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| I have never seen a 500 in China, I have heard they exist, but dont know what color they are... |
I have heard they exist, I have also heard they don't exist. I have never seen one, and probably never will. Does anyone have a reliable source? If they do exist, why are they so rare? Why does the bank insist on giving everyone massive quantities of hundreds?
AB |
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vikdk
Joined: 25 Jun 2003
Posts: 1676
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| Posted: Tue Mar 14, 2006 10:00 am Post subject: |
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fakes!!!!!!!!!!!!!!!!!!!! so much fake money here!!!!!
a lesson for all newbies check your money - and folk love to palm them off to foreigners - beware  |
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Yu
Joined: 06 Mar 2003
Posts: 1219
Location: Shanghai
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| Posted: Tue Mar 14, 2006 12:30 pm Post subject: |
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I agree fakes are the reason we dont see them.
| Quote: |
Yu wrote:
Funny, I still think of it as play money with the colors an all... and I am in China.
Green ones
Purple Fives
Blue Tens
Orange Twenties
Green Fifties
and Red hundreds.
Fortunately, I get more than 1500 of it a month.
I have never seen a 500 in China, I have heard they exist, but dont know what color they are...
you must be american. |
Yes, but how did you know?
And that still does not answer the color question. |
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7969
Joined: 26 Mar 2003
Posts: 5782
Location: Coastal Guangdong
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| Posted: Wed Mar 15, 2006 5:44 am Post subject: |
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| Yu wrote: |
I agree fakes are the reason we dont see them.
| Quote: |
Yu wrote:
Funny, I still think of it as play money with the colors an all... and I am in China.
Green ones
Purple Fives
Blue Tens
Orange Twenties
Green Fifties
and Red hundreds.
Fortunately, I get more than 1500 of it a month.
I have never seen a 500 in China, I have heard they exist, but dont know what color they are...
you must be american. |
Yes, but how did you know?
And that still does not answer the color question. |
quite easy actually. only americans comment on the colour of foreign currencies worldwide. why? american banknotes are all green.
i did a search online and found nothing pertaining to an RMB500 note. |
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jammish
Joined: 17 Nov 2005
Posts: 1704
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| Posted: Mon Mar 20, 2006 12:27 am Post subject: |
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| Plan B wrote: |
I am saving money for the first time in my life!
Teaching abroad - in general - takes you away from the debt culture that we have in the west. We live from paycheck to paycheck. Most people do not have substantial outgoings.
As for my own experience in China, up until about 9 months ago, I tended to spend virtually all my money. Since then, two things have happened - the novelty value of China has disappeared. I am no longer a tourist - this is my home now. I don't have any desire to visit expensive restaurants or bars anymore. The pay increase has also helped matters. |
I agree. When I first came I blew all my money on expat bars etc. Now I've met Mrs Jammish, we save most of my pay. I've now saved around 80,000 RMB since we started saving (about 2 years). That might not be a vast sum, but it's considerably more than I would have saved working in London. |
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jammish
Joined: 17 Nov 2005
Posts: 1704
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| Posted: Mon Mar 20, 2006 12:29 am Post subject: |
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| There is almost certainly not a 500 RMB note. I reckon the poster is getting muddled up between China and HK. |
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Yu
Joined: 06 Mar 2003
Posts: 1219
Location: Shanghai
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| Posted: Mon Mar 20, 2006 1:08 am Post subject: |
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My chinese husband told me there is a 500 RMB note. He also thinks they are not really in circulation.
American money will soon be getting some color added to it, or so I heard. |
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saint57
Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea
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| Posted: Mon Mar 20, 2006 1:27 am Post subject: |
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I don't know about the reliability of the sources but the stories match.
Last edited by saint57 on Mon Mar 20, 2006 1:41 am; edited 1 time in total |
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saint57
Joined: 10 Mar 2003
Posts: 1221
Location: Beyond the Dune Sea
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Roger
Joined: 19 Jan 2003
Posts: 9138
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| Posted: Mon Mar 20, 2006 5:18 am Post subject: |
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On the mainland, 100 bills are the biggest denomination in circulation! HK dollars are another kettle of fish, though: 500, 1000 dollars a pop.
Have you read about those 1 billion U.S. dollars someone tried to circulate recently? |
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lpm100
Joined: 30 Oct 2003
Posts: 102
Location: HuaiHua, China
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| Posted: Mon Mar 20, 2006 12:42 pm Post subject: Things to think about when talk about saving money |
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| Keep in mind that the RMB is essentially monopoly money outside of China, and unless you are saving to repay debts, you might as well use the cash here, as you'll get far more bang for it. |
You sure said that right. Think about this for a minute. US$1=8RMB, give or take.
Say that you have a salary of 5000/ month and you are able to save 3,000 of it. That's less than $400/ month in US dollar terms. Even if the RMB went up to 6 against the dollar tomorrow, it wouldn't make much difference in terms of what you could save. It would be more like $500/ month.
For what you lose in foregone consumption, you might as well have stayed home to save money. (If you are talking about unlimited access to Moist Asian Vagina, that's another story.)
If you have a job, there will be some issues with converting the currency legally--which cannot be done without significant paperwork from your school. You'll have to do it at the black market on the steps of the bank, but in that case you'll have to pay a surcharge. (I remember going to the bank at one point and asking to buy some dollars and the bank staff told me "Sorry, we aren't allowed to sell dollars to foreigners.")
I had a friend who was working in Japan a few years back and was able to save between $1200-$1500/ month. And that was 5 years ago.
I have heard of English teachers in Korea making $60,000/ year that weren't even native English speakers. If Korea was willing to accept black teachers, I would go there.
Also to be considered is the unpredictability of things here in the Mainland. It really could be anything at any time. Consider that: If you come here with legitimate paperwork the first time, then you'll not have to leave the country for a visa. But if you don't, then you'll have to go all the way out to HK and pay for a new visa and the travel expenses that go with it.
If you just must live around Chinese people and are concerned about money, Taiwan would be the first choice (because the salaries there are approaching the level that they are in Japan nowadays). Hong Kong would probably be second. And then the Mainland would be third. And this is assuming that you are white because the Hong Kong Chinese DO NOT hire black people.
Last edited by lpm100 on Mon Mar 20, 2006 1:56 pm; edited 1 time in total |
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