You’ll find tons of advice for making the most of your foreign currency on holiday but all you really want is some simple, sound advice, right? When you are on vacation in a foreign country, one of the things that you have to take care of is the rate and level at which you spend your money. It can be really tempting to push the boat out and splash some cash when on holiday, but you don’t want to get in to a situation when you run into financial difficulties abroad. To avoid ruining your vacation with money trouble, here are three simple tips for being money savvy when abroad.
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1. Let Your Bank Know
Before you have even left the country, you need to let your bank know that you are going on holiday. You don’t want to run the risk of getting there and then having your card blocked because your bank thinks that your foreign purchases are acts of fraud! The double whammy will be the massive phone bill you have to run up contacting them to get it unblocked!
2. Budget App
To keep track of your vacation spending, download one of the many finance apps that help you to see a more visual representation of what you are spending per day. It’s way too easy to go overboard when you are in carefree vacation mode.
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3. Understand the Fees
Make sure that you do your research about the different transaction and exchange fees that might affect your card spending. It might save you money to bring already exchanged currency into the country rather than use your card. However, if you are going to make any reasonably sized purchases, use your credit card as it offers insurance and purchase protection.
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