Money

 

We use our bank card for just about every transaction but these are all of the coins (1, 5, 10 & 20 kroner) and some of the foldin' money. Today the Norwegian Krone (Crown) is trading at 5.75 to 1 U.S. Dollar. That means that 1 Krone is worth 17.3 cents. The Krone is the smallest coin now in circulation. Just last spring they stopped using the 50 øre (urr-ah) piece. It was worth half a krone. So now every cash transaction rounds up or down to the nearest Krone. The one and five Krone coins have holes in them. Back in early norse times coins had holes so they could be kept on strings. The traditional holes survive but not the strings. Let's look at some prices. You have to realize with these prices that they include a 25% sales tax on all transactions: goods, food, services...everything. Tips are also included in restaurant prices along with the sales tax. So, here we go.

 

 

This is a 1.75 liter carton of light milk about like a half gallon of 2% milk at home. Cost: kr24.40 or $4.22.

 

Gasoline was down this week so this price was a real bargain. Kr13.79 per liter works out to $9.18 per gallon. Last week the price was kr15.40 or $10.25/gal. The gasoline prices fluctuate that much overnight sometimes.

 



 

How about a car to put that petrol in. I snapped this picture of a VW Passat wagon, a popular mid-cost car; cheaper than the trendy and cool BMW, Audi, and Volvo wagons. I chose this car because I priced one the other day. Cost: kr589,000 or $102,434. I priced a Honda Civic and it was only kr245,000 or $42,608.

 

 

When winter hits cars get really dirty here so a trip through the drive through car wash is an option. The silver wash will set you back $25.91 but if you go for the platinum plus you will pay $57.22.

 

 

Maybe the idea of driving is too rich for your blood. There is always the bus, which is part of an outstanding public transportation system. Your ticket will transfer to light rail or other busses to whatever your destination in Bergen may be. One way bus/light rail cost: kr27 or $4.70.  A monthly bus pass runs about $110.

 

 

We went to Egon, a cool little restaurant near us, for a cheese burger and a soda. Egon is about like Applebee's. The burger came with some fries and a generous tablespoon of cole slaw, all for kr420 or $73.

What hasn't been mentioned is that the Norwegian economy is booming. Wages are sky high to match the prices. The Norwegian consumer economy is in fantastic shape and Statoil keeps finding more and more oil in the North Sea. The government has set aside almost all of the profits from oil and natural gas in a sort of rainy day fund. They don't have a national debt. They have a surplus of about $850 Billion US dollars. By the way there are only 5 million Norwegians.

 

So, where are housing prices in all of this? The little blurb below came from a local real estate company. It pictures the apartment building that is next door to us. It seems that someone just sold their apartment for kr3,275,000 or $569,565. This place has a subterranian garage, a little deck and a nice view to go with the three-room, 900 square foot apartment.

 

 

No, you won't find Bergen, Norway on any of those Yahoo news lists of top places for U.S. baby-boomers to retire. None the less it is a peaceful, clean, and beautiful - if a bit pricey - place to live.