Travelling Abroad? 3 Money Tips For You

Travelling abroad is one of the most fun activities of the year. The excitement that comes with the going out of country to visit another is almost unparalleled. The first thing you do after having decided to travel abroad is to plan and budget your trip. We’re here to help you in that process by providing you with key tips that may help you save a considerable amount of cash and make sure that financial problems are never in your sight during your trip.

When you are going abroad the chances are that you have paid your airline and hotel expenses online, but have you considered how you’ll spend on the smaller things like travelling, activities and food? I am sure you have, but credit cards aren’t really the best option. Despite being in a rapidly developing world, a number of countries still believe in cash and there may be limited ATM outlets available.

Make use of the following money tips when you are travelling abroad.

Get A Credit Card That Is Travel Friendly

An increasing number of credit cards in the Australia are now offering you credit cards that, according to them, have travel friendly features. We have all heard that one before, haven’t we? Simply put not all credit cards are what they claim to be. Some credit cards are much better for travel than others. How should you go about the task on finding one? That’s not that hard.

The best way is to read the fine print of the credit card and look for the foreign transaction fee that is charged. The lowest the transaction fees the better for your fortune. Even a slight 2% charge on foreign currency transaction can spoil your spending party.

Travellers Cheque (Yes They Are Still Available, Even Today!)

Irrespective of the outdated feeling you get when you hear about travellers cheque, they are still a part of the banking system. The rise of credit cards has pushed travellers cheque in the background and yet they are still an effective safety net for you if you happen to have issues with your credit card.

Not all money should be put in your travellers cheque, put in couple of hundred in your check to give you a safety net in case things go a little south.

Make Sure You Get Your Money Changed To The Local Currency (Not At The Airport Though)

As soon as you step out of your plan and enter the airport you’ll find loads of money exchangers waiting to service you. Yet you should hold you horses before you charge to one of them and get your money changed. It is important to note that the currency exchange rates at most money changers in the airport are likely to be higher because of the convenience factor and you’ll have a better chance to get more in exchange of your currency if you choose a local bank.

These are a handful of tips that will help you make sure your ride out of country is a fun filled one.