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Tuesday Tip – Money Tips While Traveling Abroad

abroadConsidering taking a trip? Great news- we have some tips to help you save money while traveling abroad. Other than the obvious- start budgeting for vacation well in advance- we have some ways to cut costs when your vacation is a reality. We can supply you with five great tips on how to enjoy your trip and fully maximize your funds!

Money Tips While Traveling Abroad

  1. Choosing a Destination. Your destination is obviously very important to your travel budget. Some locations are just more expensive than others! Research the currency and conversion rates abroad to see how far your money will take you. Also consider the cost of flights and daily expenses like transit, food, and tourist attractions.
  2. Withdraw Money Before Leaving. Withdrawing funds before you leave will ensure you don’t overspend, rack up charges on your credit card, and will save from conversion fees at other ATMs. If you think you may need to withdraw funds while on your trip, check your credit card terms & conditions for details on foreign transaction fees. Compare rates at different locations before you leave (the airport, local malls, etc. often have currency exchange stations).
  3. Cash In On Rewards. Capitalize on frequent flyer miles or other credit card rewards programs that may be useful on your trip. Cash rewards depend on what card you have and what suits your needs. Be sure to consider these factors when choosing a credit card!
  4. Use Public Transportation. If you’re traveling somewhere that has public transportation, utilize it. Get a pass for whatever subway/metro/tram/bus is running. Most tourist attractions will be easily mapped. You can spend less money on an entire weeks’ worth of public transportation than one round trip in a taxi. Not to mention the cost of a rental car.
  5. Packing Tips. First, pack medicine! Nobody expects to get sick on vacation, but packing a small medicine bag will save from searching for the local (or overpriced) variation of medicine. Also, pack snacks! Throw them in your bag to help cut costs on food so you can save money to enjoy actual meals. Lastly, check the weather. It will save you from having to buy clothing, sunglasses, etc. on your trip because you didn’t check the weather before leaving. It will save you time, energy, and money.

ABOUT AUTHOR / Madison

Madison is a Marketing Communications & Programs Associate at ACCC. She is excited to share her tips on saving money and being financially responsible here on the Talking Cents blog!

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