麻豆影视

Business

    • Dos and don'ts of money while travelling

    Anonymous person magnifying view of coins shaped in world map. (Pexels/Monstera) Anonymous person magnifying view of coins shaped in world map. (Pexels/Monstera)
    Share

    As a former financial advisor, I鈥檝e always been fascinated by how the 鈥渃ulture鈥 around money differs from one region of the world to another.

    This can be influenced by a country鈥檚 economy, cultural values, religion, key industries, and the opportunities available to its citizens.

    Cultural narratives 鈥渋nfluence how we interpret actions, how we think, and how we behave,鈥 .

    Today, I鈥檒l outline some of the interesting money habits that I鈥檝e noticed while travelling the globe, starting with some of our own!

    1. Canada

    Canada has its own cultural norms around money that are so habitually ingrained that you probably don鈥檛 give it a second thought.

    Take the tipping culture, for example. It鈥檚 considered very rude if you don鈥檛 tip at a restaurant or for other services such as:

    • Valet car service
    • Room cleaning
    • Ridesharing (such as Uber and Lyft)
    • Food delivery

    The United States also shares a similar sentiment toward tipping.

    However, you may be surprised to hear that tipping could even be considered offensive or belittling in countries such as Japan, South Korea, and China.

    Another interesting money trait in Canada is that taxes are usually not included in the displayed price of goods and services. Foreign visitors may be surprised to see that their total after taxes is higher than the listed price of items and services.

    2. Mexico

    Aside from the large difference in value between the Mexican peso and the Canadian dollar, visitors may be surprised to see:

    • Many places do not accept credit cards
    • Tipping with credit cards is not very common (unless you鈥檙e in a resort)
    • Cab drivers do not expect tips, while most other service providers do

    Mariachi bands are very common in Mexico and are especially popular at restaurants. These mariachis typically aren鈥檛 paid to perform by the restaurant, though, as you may expect in Canada. Instead, they rely on tips from the patrons. In many cases, patrons can hire the band to play a popular song to serenade their partner or celebrate a birthday.

    After speaking to some of the locals, I also realized that many Mexicans have a strong distrust of banks. Many locals prefer to bury their money underground rather than trust it in a bank. Part of this is also due to the lack of banking infrastructure outside major cities.

    Since bank loans aren鈥檛 common, families and friends often pool their money together to invest in land, fund a party, or support a sick family member. This practice is known as a tanda.

    3. Japan

    One thing I noticed about Japan is how prevalent coins are. The Japanese yen has many coins, including 1, 5, 10, 50, 100, and even a denomination of 500 yen (around C$5).

    One very interesting difference you may notice when shopping in Japan is that it鈥檚 common to use a small change tray (called a koin torei) to place money in when making a transaction. It鈥檚 actually considered rude to hand the money directly over to them without using the tray.

    It is often considered disrespectful for a merchant to 鈥済rab鈥 money from a patron鈥檚 hand, plus the change tray is a more clean and organized way of handing cash over.

    4. Vietnam

    If you鈥檙e travelling to Vietnam, make sure that you exchange some of your Canadian dollars for Vietnamese dong (the country鈥檚 primary currency). Outside of major resorts, hotels, and other international retailers, the country鈥檚 economy is primarily cash-based, and your cards won鈥檛 be accepted in many places.

    Vietnam has a very strong bargaining culture that may seem strange to Westerners who are used to paying a set price for most items. This is not always the case in places such as department stores, but if you go to a market, you have the green light to bargain . When purchasing goods, the first price given to you is often the top haggling point.

    Many vendors expect customers to engage them and haggle the price of goods or services down until an agreed-upon price is settled by both parties. This may seem confrontational to some, but it鈥檚 just the standard way of doing business for many Vietnamese.

    Something else that I noticed is that if you want to be extra polite when handing money to someone, use both hands and grip the bill on each side.

    5. Thailand

    Like Vietnam, Thailand鈥檚 economy is largely cash-based, with a strong haggling culture for everyday goods and services. You鈥檒l need to convert your Canadian dollars to the Thai baht to pay for most things.

    I鈥檝e also noticed that the Thai greatly respect their bills. The image of some of Thailand鈥檚 greatest kings are on the front of each bill, and some people show respect for this in several ways:

    • Bills are not placed in the back pocket, as this would be 鈥渟itting on the king鈥檚 face鈥
    • Small bills are often displayed on a business鈥 walls to bring good fortune

    Respecting the culture

    If you want to be respected and treated kindly during your travels, it鈥檚 always best to follow the cultural norms of the country you鈥檙e in.

    Before travelling to a new country, it鈥檚 wise to research some of the culture鈥檚 money habits. What may be perfectly normal in your home country may be awkward or disrespectful in another country.

    If you鈥檙e ever unsure, don鈥檛 be afraid to ask. It shows that you鈥檙e respectful and willing to learn a culture鈥檚 way of doing business, and is far better than making incorrect assumptions.

    Christopher Liew is a CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers on his .

    CTVNews.ca Top Stories

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    opinion

    opinion How to transition from renting to owning a home in Canada

    In his column for CTVNews.ca, personal finance contributor Christopher Liew offers a step-by-step guide on how to make the shift from renting to becoming a homeowner, and what you can start doing today to help the process go smoother.

    Canada

    World

    Politics

    • Murray Sinclair鈥檚 family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Health

    • Why brain aging can vary dramatically between people

      Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    • Researchers say taking a peek inside a person's brain is as difficult as understanding the universe or discovering the ocean in its entirety.

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    Local Spotlight

    For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • Weather watchers were treated to an exceptionally rare display on Friday evening as rare cloud formations filled Vancouver skies.

    • For some shoppers it was Nov. 1, but for others the first hints of Christmas - saccharine treats, festive-fragranced candles and gaudily wrapped gift sets - were being noticed in stores long before the final Halloween decor had been cleared.

    • Thousands of people are expected to gather in downtown Vancouver on Monday to observe the city鈥檚 100th Remembrance Day ceremony.

    • A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift鈥檚 upcoming Eras Tour, which will be making a stop in Canada鈥檚 largest city for a six-show run later this month.

    • A man is wanted after allegedly presenting himself as a rideshare driver then sexually assaulting a woman from Brampton late last week, say police.

    • A pair of 105-mm howitzers bark constantly as they turn plywood tank targets into kindling kilometres away on the windswept landscape of one of Canada's largest military bases.

    • Two semis were among the vehicles involved in a multi-vehicle crash that brought westbound traffic along Stoney Trail Northwest to a standstill on Sunday.

    • More than 700 people danced, ate, and sang to celebrate Diwali Saturday night at the Genesis Centre in northeast Calgary.

    • NEW THIS MORNING

      NEW THIS MORNING

      An Ottawa boy with a rare disease will be getting the chance to see Taylor Swift in concert after the winner and organizers of an auction held on his behalf gifted the tickets to him.

    • CTVNewsOttawa.ca looks at Remembrance Day ceremonies in Ottawa.

    • After months of controversy surrounding a dog park in Ottawa's west end, a solution has been reached to divide the park in half.

    • A First Nation near Quebec City says the provincial government and Quebec鈥檚 hydro utility have ignored their constitutional duty to consult about four planned wind projects south of the Saint Lawrence River.

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    • Two vehicles were set on fire in Montreal鈥檚 east end Riviere-des-Prairies neighbourhood.

    • Monday is Remembrance Day, a time to honour armed forces members who have died in the line of duty.

    • Boasting 2,300 square metres of skating space at its new location, Edmonton's Rollers Roller Rink believes it is the largest in Canada.

    • A woman is dead after a driver crashed a truck through a Boston Pizza in Fort McMurray late Saturday morning.

    • Here鈥檚 what鈥檚 opened and closed across the Maritimes on Remembrance Day.

    • As Nova Scotia politicians make their fall election promises, Julie Leggett is urging them to commit to helping people on income assistance stay cool during heat waves.

    • A pillar in Canada鈥檚 history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • The Winnipeg Blue Bombers whipped the Saskatchewan Roughriders 38-22 in Saturday's CFL West Division final to earn their fifth consecutive trip to the Grey Cup.

    • Regina author Valerie Crowther is celebrating the release of her book 鈥榃ar Letters: Linking Lives in the Second World War.鈥

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • Twilight Tech Arcade, an entertainment location specializing in retro gaming, is closing its doors for the foreseeable future.

    • A man has been charged after a stabbing at an apartment building in Kitchener.

    • The Guelph Police Service is putting out a warning after two deaths in the downtown area.

    • Two new tributes to Canada鈥檚 veterans have been unveiled at the Elmira Cenotaph.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • CTVNewsNorthernOntario.ca is livestreaming the annual Remembrance Day ceremony at the Sudbury Community Arena starting Monday at 10:30 a.m.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • On Friday, the Sarnia Police Service (SPS) received a report of an alleged abduction in the area of Kathleen Avenue and Walnut Avenue.

    • A group of former NHL players faced off against York Regional Police officers in Newmarket Sunday afternoon to raise funds for Special Olympics programs across the province.

    • A driver is facing multiple charges after a multi-vehicle collision on Highway 400 early Sunday morning.

    • The agreed statement of facts was read to the court on Friday in the case of Alex Williams, the 24-year-old jail guard charged last fall with smuggling cannabis and tobacco into Central North Correctional Centre in Penetanguishene.

    • For Gene Lotz, the spark of curiosity to delve into the history of those who served in war only began when the answers became difficult to find.

    • A Tilbury race car driver and his team are partnering with St. Clair College to give students a chance to see their design circle a racetrack. Driver Nathaniel Greenaway said the competition challenged third-year graphic design students to draft a wrap for his car ahead of next season.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year鈥檚 host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • Mayors of the five largest cities in northern Ontario met in North Bay the last two days to discuss a range of critical issues impacting their cities and the region.

    • Residents in the Sault expressed concerns ranging from vandalism to privacy invasions during recent consultations on the city's plan to install automated speed enforcement cameras.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at 麻豆影视. We may earn a commission when you use our links to shop.聽Read about us.

    Stay Connected
    Follow 麻豆影视