Making the wrong choices when it comes to spending abroad can have a significant impact on your holiday budget, so it’s crucial to be well-informed. By following the money saving tips we’ve outlined below from moneysavingexpert.com, you can avoid unnecessary expenses and ensure that your holiday is a well deserved enjoyable break.
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1. Spending the Wrong Way Can Cost You
Spending your money in the wrong way while travelling can result in your holiday costing more than it should. It’s important to take the time to understand how to manage your expenses effectively to avoid overspending and unnecessary fees.
2. Always Opt for Local Currency
When faced with the option to pay in pounds or the local currency, choose the local currency. This small decision can have a significant impact on your overall expenses and ensure that you aren’t hit with unfavourable exchange rates or additional charges.
3. Be Mindful of Your Existing Cards
Using your existing cards abroad without considering the charges can lead to unpleasant surprises. Before your trip, check what fees and charges your cards may incur and consider finding a more cost-effective alternative if necessary.
4. Avoid Credit Card Expenses
Purchasing travel cash or loading a prepaid card using a credit card may seem convenient, but it can also result in extra costs. Look into alternative methods for accessing your travel funds without incurring unnecessary expenses.
5. Credit Cards and Car Hire
If you plan on renting a car abroad, having a credit card will be a requirement – and you’ll likely be paying your deposit in the local currency. By opting for a specialist overseas card, you can make the payment in the foreign currency without having to worry about exchange rate fluctuations or additional charges.
6. Prepare An Overseas Wallet
To ensure a smooth travel experience, it’s important to have the right essentials in your “overseas wallet.” Including some emergency cash, a back-up credit or debit card, your passport, your travel insurance details and some local (and family) contact details.
As we said at the start, take the time to prepare yourself with the information you need to avoid unnecessary expenses, save money, and enjoy your worry-free holiday.