International travel money advice
Are you planning an international trip and wanting some advice to help you save money? Read on to see our top 10 money tips.
10 Money advice and tips for International Travel
The summer is upon us, and it’s finally time to get excited for our summer holidays. Whether you’re planning to get some sun on the Mediterranean coast or some fun sliding down the slopes of the Alps, travel can be stressful. Today we’ll be running through 10 money tips for anybody travelling internationally this summer.
There are so many things you need to consider when it comes to getting your finances sorted before jetting off, including travel insurance and foreign exchange rates, but we’ve got your back with these tips.
1. Order travel money in advance
Trying to sort your money whilst at the airport can be a stressful and expensive task with the machines there charging an absolute fortune to get your euros, dollars, or kronor. It’s always a good idea to get your travel money beforehand, but if you need to get some extra, you should get it when you arrive at your destination – more on that later!
2. Get a travel insurance quote before you go
Another essential for any international trip is good travel insurance, but it’s important to make sure that you’re getting the right policy for your needs. While you might think that insurance is a waste of money because you won’t need it, it’s worth remembering that insurance is never needed until it is, and you’ll be glad you bought it beforehand.
3. Check your mobile phone contract
If you’re planning to use your mobile phone while you’re away, it’s essential to check your contract first. Now that we see the consequences of Brexit become a reality, some providers have changed their terms, and this mostly seems to affect roaming and limits on how much mobile data you can use overseas, plus whether you’ll need to pay extra.
4. Use ATMs to get local currency
Withdrawing cash from a cash machine is usually the best way to get local currency when you’re abroad. This is because the exchange rates are generally much better than those you’ll find at airports or hotels. There won’t be any commission fees added on top, just the usual currency exchange fees that are unfortunately pretty much unavoidable.
5. Pay for the trip with plastic
Paying by credit or debit card is usually the best way to pay for all your holiday-related things as it’s quick and easy and also means that you’ll get payment insurance that a typical debit card just doesn’t usually offer. Just be sure to check if you have enough allowance for any big purchases, as exceeding this can result in charges and be reflected on your credit score.
6. Know your limits
When you’re travelling, it’s essential to be aware of the limits on how much cash you can take out of ATMs and how much foreign currency you can bring into the country. These limits vary from country to country and as we often say, it’s worth spending some time beforehand to make sure that you know everything about how you can use your card abroad.
7. Get a prepaid travel card
If you want to avoid carrying around large amounts of cash, then a prepaid travel card can be a good option. These cards can be loaded with pretty much any currency in advance, and then used like a debit card when you want to get more cash out or pay for something. If you’re after a sound travel card, check out the Travel Money Card from the Post Office.
8. Use your credit card wisely
If you’re planning to use your credit card while you’re away, it’s vital to be aware of the fees and charges that can apply. Many cards will charge a foreign transaction fee so make sure to check the rate offered, any potential charges, and your usage limits beforehand if you want to avoid any surprise fees that might end up coming your way.
9. Know the usual scams
From taxi drivers who add miles to the journey to sellers who’ll try to pass off fake goods as authentic, there are plenty of ways to take advantage of unsuspecting travellers. Keep your wits about you and try to stay ahead of what’s happening, especially if a person on the street is trying to offer you a rose, a bracelet, or a painting that they insist is free because there’s always a charge.
10. Keep an eye on your belongings
Finally, it’s important to keep an eye on your belongings while travelling as pickpockets are always on the lookout for easy targets. So make sure you keep your valuables close at hand and don’t leave them unattended in public places. While the likelihood of anything happening is slim, make sure to have insurance and keep an eye on your things.
