If you’ve got a trip planned to another country, it’s likely that you may be very excited about it. This could be the ideal way to get the most out of your day and life.
Taking time to travel is the key to feeling content and making the most of your day. However, one of your top concerns may be dealing with the exchange rate. This can be a bit challenging for many people. It’s in your best interest to know all the foreign money currency options to help you handle the money aspect of your vacation.
1. Minimize your credit card usage
If you’re like many people, you may use a credit card a lot. This could be due to saving time or working to earn a cash back bonus reward.
However, if you’re travelling it’s not ideal to rely on a credit card unless you absolutely must. Save this item for emergencies only, and you’re sure to have fewer issues to face financially when on vacation.
2. Take out cash sparingly
Did you know that you will typically have to pay fees for cash withdrawals? This is usually the case, and you’ll want to avoid doing this because of the financial costs.
However, if you do need to take out cash, it’s in your best interest to take out a large amount at one time. Doing this could be the key to saving a lot of your hard-earned money on numerous fees and penalties.
3. Be mindful when paying with cash
You may want to pay with cash because this can save the hassle of needing other types of money on hand. However, many store owners will charge you a certain fee for this luxury.
Some travellers have reported having to pay as much as 20% to pay with cash. You’ll always want to watch out for this issue if you’re in a store with money in your hand.
4. Be prepared for being shortchanged
If you’re going to keep more of your money in your pocket, you should always be on the lookout for being shortchanged. It’s a fact that many business owners may not be looking out for your best interest.
However, merely paying attention during all money exchanges could be the key to saving you a great deal of cash. Always be mindful that others may be trying to cheat you and this could be the key to reducing the chances of this occurring.
5. Don’t buy foreign currency
You may feel that you can be better prepared by purchasing foreign currency before leaving for your trip. However, this is not the case, and you’ll be better off waiting until you arrive.
This will be one less thing you’ll need to do beforehand. Keep in mind there will be plenty of ATM’s at any airport you arrive at during your vacation.
6. Do some research
It won’t take long to do a bit of research on your own time, and this can be very valuable to you. Learn the basics of what the currency is where you are and the area where you’re going.
Doing this will allow you to save a lot of time and headache in the process. Additionally, you’ll be much less likely to be shortchanged by knowing a bit about the currency rate.
Travelling shouldn’t be something that causes you stress but will ease your mind. Knowing a bit about the currency exchange and what to do in another country is sure to be helpful to you!