How to save travel money

With the holiday season almost upon us, peoples’ thoughts are once again turning to the sun, sea and sand of far away shores. However there are a few things to consider if you are to avoid if you want to save as much of your travel money as possible. If you follow the tips below you should be able to save a considerable amount of your money, while doing not a lot.

How to save travel money whilst abroad

Travel Money Cards

Travel money cards are prepaid cards that you load up with money before you go away on holiday. These cards can then be used in place of local currency.

These cards are a great way to take your money abroad as you can budget your travel finances much better. You will only be able to spend what you have actually loaded onto the card.

As with all things though, there are charges that you should be aware of and avoid. There may be travel money card application fees, top up fees, withdrawal fees and monthly fees. It is best to avoid doing these things and only use the card to pay for things in the local currency that you preloaded the cards with.

Credit Cards

Credit cards can become very expensive with all of the similar fees of a travel money card, but not as much of the protection offered by travel money cards. They also won’t be in the local currency so you may be hit by exchange rate fees as well. If possible avoid using a normal credit card.

Debit Cards

If you choose to use a debit card abroad, you will have to pay a range of fees, including paying for things in the local currency. You will also be at risk if you lose your card or it is stolen and the thieves have access to your account. They will be able to withdraw money directly from your bank account, so this is definitely something to be aware of. Be very careful when taking your debit card abroad and using it.

Don’t get short changed!

This last tip might seem like common sense, but when using foreign currency it is always so easy to check how much money you are getting back. Double check after you get your change back how much money you were given. When possible, try and pay with the exact amount of cash that they are asking for to avoid someone short changing you.