Money and travel are often a dangerous mix but a necessity, even when you are on a budget. There’s is nothing quite as frustrating as having to interrupt your trip because of cash flow problems. The following tips will help you ensure that everything runs smoothly:
- How to Carry Your Cash: Pick-pocketing is an art, and a backpack, purse or even a pocket is no challenge for the skilled thief. Money pouches are a great way to carry valuable documents (passport, money, tickets, etc.) If you don’t want to carry a money pouch, there are a number of different items that you can buy to carry your valuables safely.
- Using Credit/Debit Cards and Online Banking: Although it might be obvious to the seasoned traveller, you’d be surprised how many people travel abroad and find out that their cards don’t work. This can be for a number of reasons. More and more banks have a fraud policy that will stop your card from working if you try and use it outside the country and sometimes even your state (if you’re from the USA). Call your bank and tell them your travel dates so ensure that your card works abroad. You should also check whether you will need a PIN for your card if you don’t already have one. Also, leave your cheque book at home. If you’re using your card, there’s no reason for you to also have your cheque book and it’s easier to cancel cards rather than cheques.
It’s also handy to set up online banking before leaving. If you are travelling for a substantial period of time, you may want to check on your finances and not want to pay for expensive long-distance calls to your bank. Internet banking can also come in handy if you are in an emergency and need to transfer money or cancel cards. (Just keep in mind that the web browser encryption and security settings required by American banks is not available in all countries. You may only be able to use the browser on your laptop, not computers at foreign cafes.) - Don’t Barter Your Budget Away: You’ve found the perfect Provincial lavender-scented keep-sake for your mom while touring Provence and now you just need to haggle for a good price but for some reason you end up buying it for more than the original price? Bartering may be a part of your travel experience, but remember that being a tourist and struggling in a foreign language (if that’s the case) makes you a target for sellers. Trust your instincts (if you have any…) in terms of haggling. Items are often marked up in popular tourist areas so don’t assume you are getting a bargain just because the seller is dropping their price. Also, avoid opening your wallet and shifting through your cash looking for a small denomination note. If you do, you may find that the price has suddenly increased while you’re trying to get your cash back.
- Get the Best Exchange Rate: The worst possible place to change money is usually at the airport or bus station where you arrive. Change money before you leave on your trip and shop around to find the best exchange rate.
Find out what your bank charges are for using your card abroad. Sometimes the exchange rate may be reasonable but they might impose charges for using the card overseas, thus counter-balancing the great exchange rate. You obviously don’t want to be walking around with loads of cash, but try to avoid using your card for every tiny purchase. It could end up costing you a lot. - The Contingency Plan: In case something goes wrong and you lose your cards and cash, you can usually have money wired to you. Western Union and Moneygram offer same-day services. If you’re extremely organized you might find out if there are any branches where you are travelling. If not, you can usually find money wire companies at in major cities and at most airports.