5 Insiders tips: How to handle your money in Peru

5 Insider tips: How to handle your money in Peru

Living and traveling in Peru is interesting in many ways. If you came to Cusco to learn Spanish, you will have a unique cultural experience. Not only does Peru offer plenty of tourist attractions, but daily life itself also works a bit differently than at home. When you have chosen Peru as a destination to learn Spanish, volunteer, or travel, you will notice from the moment you arrive that things are different. Take note of the following tips, “How to Handle Your Money in Peru,” before starting your adventure in Peru; they could save you some money!

 

1. Is your money not accepted? Do not be surprised if your money is not accepted, for instance in a restaurant or shop. This usually is the case when a note looks old, worn down, or ripped. None of the stores in Peru will accept ripped notes; still, they will all try to give ripped notes as change. It is not meant to rip you off, but more a matter of ‘laziness’.Don’t feel sad when you find out someone gave you a note that now seems impossible to spend. Just go to El Banco de la Nación. They will change your old note for a new one. The reason shop and restaurant owners do not accept these notes is that they don’t want to make the effort of going to the bank. Plus, it is harder for them to verify whether the note is fraudulent. This is a bigger problem in Bolivia. Since Peru has been introducing high-quality new bank notes, this is happening less and less.

 

 

2. Change! Don’t let yourself be fooled when buying something. It happens that a shopkeeper won’t give back enough change, either by accident or on purpose. Especially taxi drivers and market people are experts in trying to make an additional benefit this way. Luckily, if you tell them they didn’t give back enough change, they won’t argue; they’ll just give you the right amount and apologize.Tip: Make sure you count your change after every purchase, as once you leave the store it is harder to prove you were given the wrong change. You can always say the amount you have given the shopkeeper and the change you expect back; this helps show that you are aware and you are less likely to get the wrong change back.
   

   Would you like to study Spanish in Cusco? Contact us or learn more here. Use this link to register

 

3. Markets! Visiting Peruvian food markets is a nice experience, but if you are a foreigner, it might not always be easy to buy there. The markets are a cheap place to buy vegetables and fruits, though not as cheap as the supermarkets – at least not for me. I’ve noticed a few times that after buying stuff at the market, I was charged more than at the supermarket. The thing is, in supermarkets the prices are set, whereas at markets the vendors seem to make up the price as you come. And in my case, as I’m blond and gringa, the price ends up being higher! If you know the price of fruit by kilo -for example, avocados are usually 8 soles per Kilo – this can help make sure you get the right price. You can ask the shopkeeper why it is 10 and 8. They will usually lower the price, since they know they cannot scam you. This being said, the San Pedro Market is a nice place to visit.

 

 

4. On the bus! Traveling by local bus within the city – for instance, if you need to move back and forth between your host family, Spanish classes, or your volunteer project – is at times a bit of a hassle. City buses can be really crowded, and pickpockets will try to take advantage of that fact.This happens to Peruvians and tourists here in Cusco. Instead of trying to get your wallet out of your bag while on the bus, it is better to take out S1 – that’s what you need to pay when you get off the bus – before entering; this way people with bad intentions won’t see where you keep your wallet. It will also save time. The buses come and go, so you jump out, pay, and the attendant will give you your change. It won’t be appreciated if you get off the bus and start looking for your money, as the bus needs to continue quickly. Remember, after 10 pm the cost is 1.50 soles. Plus, the colectivos to the Sacred Valley cost 7-10 soles. You should not pay more than 10 for a one-way ticket.

 

 

5. Haggle! Remember to haggle everywhere and on everything. Apart from supermarkets, restaurants or modern clothing stores (although there are exceptions too), nothing has a set price. Especially when buying touristy stuff, you should definitely bargain! Start at a 50% discount and work your way up to a good price. Be prepared to walk away and try a different shop/vendor. You can always say “this vendor said it was 70 soles” or “my friend bought this jumper for 50 soles yesterday” (even if that is not true).

 

5. Would you like to study Spanish in Cusco? Contact us or learn more here. Use this link to register

 

---