It’s an exciting and often intimidating prospect: travelling to a foreign country and spending money. With so many potential pitfalls and unfamiliar foreign currencies, it can be hard to know where to start. However, with a few simple tips from money-saving experts, you can potentially make substantial savings on your overseas purchases, and have an amazing trip too!
One of the best things you can do to ensure that you don’t overspend when you travel is to plan your budget ahead of time. By setting a budget for what you are expecting to spend overseas, you can determine how much money you need to bring with you, and how much you can afford to spend on souvenirs, attractions, and meals.
Make sure to research the currency exchange rate of the country you’re visiting before you leave. This will allow you to be able to budget accurately and know how far the exchange rate will stretch. Also, trading in money markets can provide better exchange rates than those offered by banks, so it’s worth considering this as a money-saving option.
When you are out spending on souvenirs and experiences, try to stick to cash for your transactions. Credit cards are often charged additional fees for overseas purchases, so when using cash you’ll get the most bang for your buck. Prepaid currency cards are a good way to keep track of your spending and make sure that you don’t overspend, as you’re limited to what you can load on the card.
Look into getting a travel insurance policy before leaving. This is important in case you are robbed or lose something during your trip. It can also provide peace of mind that you’ll be covered if you have any medical issues.
Another way to reduce your overall cost of spending abroad is by taking advantage of discounts and promotions. Many shops and restaurants in popular tourist destinations offer discounts for those travelling on a budget. Make sure to look out for these and make your purchases accordingly.
Finally, it pays to keep track of your money savings. Once your trip is over, take note of how much you managed to save and what steps you took to get there. Doing this will help you plan better for your next trip, and ensure that you get the most out of it in terms of spending power.
The key to successful spending abroad is to plan ahead and do some research. A little preparation can go a long way in saving you money, and help to make your trip even more enjoyable. With these money-saving expert tips, you’ll be able to shop your way around the world without breaking the bank.