Travelling abroad is definitely something to look forward to. But for those who are travelling internationally for the first time, budget planning and deciding how to spend in another country can be a bit of a challenge. Here are some great practical money tips for ensuring that you have enough money with you anytime, wherever you may be on the globe.
Have a Little Cash Ready
While it seems obvious, this first tip is actually something that most of us might overlook in this age of so many payment options. Just be sure to keep your cash safe and not bring too much, to be safe from theft and losing it as you travel. It is good to have some cash handy for tipping and buying from certain stores that might not accept credit cards and other forms of payment. It is best to have your money converted in the country you are going to and not where you are from. Remember to shop around to get the best rate and be wary of black market exchanges.
Avoid Debit Card Fees Abroad
Before you leave for your international trip, check if your bank has a partnership with foreign banks in the country you are visiting, so you may be eligible to use your debit card without incurring charges, like foreign transaction fees and international ATM fees. There are banks which have branches and ATMs abroad and if your bank happens to be one of these, then you may be able to pay with your debit card without these extra fees.
Use the Safest Currency – Bitcoins
Unlike cash which can be stolen or lost, or be subject to exchange rates, bitcoins are relatively much safer to use when travelling since your bitcoin wallet is secured with logins. Bitcoin has gained so much popularity over recent years and is now being accepted by most merchants in several countries around the world, including Shopify stores, Reeds Jewelers, Gyft, and even online casinos like VegasCasino, and it is not surprising why. Aside from its guaranteed secure transactions, fees are relatively much lower compared to other forms of payment. As long as you have internet and your smartphone with you, you can make instant payments with your bitcoins.
Choose Which Credit Card to Use
Not all credit cards are equal, so you have to choose which one you would use abroad. The first thing to check is if your credit card requires foreign transaction fees. Of course, if the answer is yes, then you should leave this one at home. You also want to know if your credit card offers perks like frequent flyer miles or complimentary travel or car rental insurance. Don’t forget to check the limitations listed in the fine print. Also, check if your credit card will be accepted in your destination. While it may seem that MasterCard and Visa cards are accepted everywhere in the world, there are certain countries that prefer cash.
Going on a trip abroad offers so many exciting opportunities, and the last thing you want to be preoccupied with is how to pay for your overseas ventures. These practical money tips will make it so much easier for you to plan for the financial aspect of your vacation.