All first-time travellers make a lot of mistakes no matter how prepared they think they are. Most of them have over-packed, spent too much on souvenirs (which you can see back home), or been scammed by the pros. You can be in the same daunting experience. But in case you’ll get trapped, just think it is a part of the adventure. However, never ever make a mistake with your travel money because it can recur on your future trips. There are four options to manage your travel money, so you won’t get caught up in the middle of your trip.
1. Research for the best foreign exchange provider
Currency exchange can be costly because of the hidden fees and charges. The best way to save up on these charges is to do a thorough research on the best foreign exchange provider. Compare all possible options, check out reviews, or get advice from your bank. Then you can now arrange foreign exchange online or visit their branch. This can be exhausting but having enough knowledge and preparation pays off.
2. If you know someone on your destination, go for money transfer.
It is not advisable to carry a lot of cash. You should only bring some for transportation, dining and accommodation purposes, especially on your first day. Your foreign exchange provider will also give you the option to transfer money to a friend or relative if you solely want to use cash. No.1 Currency notes that it is secure since your money is in good hands. You don’t need to worry about losing money on the way.
3. Apply for Prepaid Travel Money Card beforehand
When travelling abroad, you want to avoid high currency exchange charges. Prepaid travel money card works like a cash card. You can pre-load money with different currencies in case you plan to visit many places. It is very convenient because when you use the card, the money is converted to the latest currency right away.
4. Use a credit card with no foreign exchange transaction fees.
You can always carry your debit and credit cards overseas. But expect high fees on your bill next month. So how can you make the most out of your credit card? Use a card with no foreign exchange transaction fees to avoid getting high extra charges. If you don’t have one and plan to travel abroad again, you should apply one now. By the way, be smart about using your credit card. If you have cash, use your card for big purchases or emergency purposes only.
When travelling always have lots of back-up plans. Bring cash, a credit card, a debit card, and your prepaid travel card so you can have a lot of options in case you are in trouble. If you manage your travel money well, you can always make the most amazing travels.