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Money Management Tips for Travelers

Money Management Tips for Travelers

When you are enjoying your journal, the last thing you would like to worry about is money. We have listed several practical tips for money management while traveling so you could have a stress-free vacation and focus yourself on enjoying.

1. Set a realistic budget.

The first thing for money management during traveling is to set a realistic budget according to the amount of money you’ll need to cover the costs for food, rental car, hotel, activities and all the other miscellaneous purchases. Prepare a little extra money as emergency funds or for last minute shopping. One thing to keep in mind is, when you are determining your budget, don’t forget to take the factor in the currency exchange rate into consideration if you are travelling internationally. If you are staying in the U.S., you should also factor the differences in costs of gas and food in various areas like major cities and coastal regions.

2. Prepay for hotels and transportations.

Prepay for hotel rooms and transportations including train tickets and rental cars. Bring the receipts with your as well as the confirmation numbers.

3. Exchange some foreign currency.

If you are traveling internationally, you may want to go to bank to exchange a small part of the budgeted money with foreign currency. The money can be used for the food or cab during your first day of travel. You can also exchange currency at the airport of your destination.

4. Bring your cards.

If you prefer to use debit money from the checking account, bring your debit card with you, but it’s recommended to bring two types of cards, such as a MasterCard and a Visa card to use alternately or as a backup. Check your balance in the bank and also the credit limit line or your credit cards before leaving to avoid overdraft.

5. Always have some cash on you.

You can withdraw some money from ATM every day to make sure you always have some cash with you. But don’t carry too much cash with you, instead, using your debit and credit cards is a safer and more convenient option.

6. Plan for a backup.

You should prepare backup during travel by leaving a credit card in a lock box in the hotel room. When you lose your wallet, you will have a backup that save you plenty of time and hassle. You can make photo copies of your cards, leave them in your lockbox and give some copies to a family member or a trusted friend in case you will be able to call your bank or credit card company to work out things quickly so it won’t ruin your trip.

7. Have fun.

Having fun is the most important thing during a trip. If you have a budget, just try to stick to it, while if you can’t, don’t stress. Just go with adequate preparation and make enjoying the travel as your top priority.

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