Savings
Mirault continues...

Send it home. Send your U.S. dollars that you want to save home. Send it home to a bank. Send it home to a parent or trusted friend, but send it home!

Have you ever wondered why the entire world invests their money in America? It's because we have one of the most stable economies in the world. Send it home!

Another horror story. Remember these stories are true and they're the reasons that made me angry enough to carry out this project. Steve (not his real name), is in Acapulco, dancing in a wonderful production. He decides to extend his contract for another six months because he is having such a great time in Acapulco. A Mexican bank is offering 30% interest on a six-month certificate of deposit of $5,000 U.S. Steve sees this as a way to make an extra $1,500 in interest in the six months he's going to be in Mexico anyway. Sounds good doesn't it? The problem was the Mexican government devalued the peso over 150% in the six-month period and passed a law that no U.S. dollars were to leave the banking system. His guarantee of being paid back in U.S. dollars was now worthless. When Steve got his certificate of deposit in pesos, he found that he had gotten the 30% interest, but the $5,000 U.S. that he had put in the bank had been returned to him in the equivalent of $1,700 U.S. dollars in devalued pesos. $5,000 in, $1,700 out. Send it home!

Credit Cards
Don't leave home without it. No this is not an endorsement for American Express. I really don't care which major credit card you use in the States or whether you're against credit cards all together. When you're working in a foreign country, I strongly recommend having at least one major credit card with you. If you don't have one, try to get one before you leave on your trip. If you do have one, for heavens sake, make sure it's not maxed to its limit (you see, I really do know dancers). The point of having a credit card is not so you can buy more sombreros or silver bracelets, but so you can protect yourself in case anything out of the ordinary happens.

Example: The producers declare bankruptcy, cancel and exchange all your return flight tickets for cash and close the show. I know this is a little dramatic, but it could happen. You don't panic, you don't beat anyone up, you don't have to call Dad. You take your little credit card, book a flight to the States and chalk it all up to experience.

Taxes
Mexico has firmly established what it calls a “luxury” tax. Anything that is not a necessity is a luxury and if you can afford the luxury, you can afford the tax. The tax is 100% on most luxuries, sometimes more. OK, now catch your breath.

When I arrived in Mexico I was surprised to see almost every car on the road was a Volkswagon or an older model American Motors car. When I asked about this my producer explained, “Many other models would be considered luxuries and subject to a 100% tax.” I immediately cringed at the thought of possibly being able to afford a new Corvette at $40,000 only to have your dream vanish with the new $80,000 price tag, TAX and license included.

The reason I'm explaining this tax situation is because dancers from foreign countries working in Mexico under work visas fall into this category - “luxuries”. Your salary may be the equivalent of $450 U.S. a week, but your producer has had to pay $900 a week in order to assure that you net your contracted amount. “So what,” you say. “I don't care what he has to pay as long as I get what I negotiated for.” Exactly my point. When I began working other entertainment jobs in Mexico, modeling, television or choreography, I had to ask for double the money I wanted in order to insure that I got paid what I felt the job was worth.

If I felt the job was worth $200, I would ask for $400. One half would come to me and one half to the Mexican Government. I thought you'd like to know. Now remember, tax laws in every country change rapidly and frequently. Ask first.

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