Money Matters

Check out our money related tips on travelling.

* No matter if you are going on a weekend camping trip or a year-long, round-the-world adventure, you always, ALWAYS create a budget. If you don’t set an expectation of how much you’re going to spend, you’re almost guaranteed to overspend.

* Don’t leave buying your travel currency till reaching the airport-you will get ripped off.

* When changing cash, avoid exchange bureaus that don’t show both the buying and selling rate. By seeing both rates you can derive the profit margin — which should be within 5 percent. Places showing only the selling rate are hiding something, an obscene profit margin.

* Use ATMs rather than travelers checks. You’ll get your cash cheaper and faster. While ATMs give the best possible rates, they do come with transaction fees. Minimize these fees by making fewer and larger withdrawals.

* Pay with cash, not credit cards. While credit cards get you a good exchange rate, many places offering best deals — from craft shops to bed & breakfasts — accept only cash.

* Foreign transaction and ATM fees can quickly add up, so be sure to sign up for a travel-friendly debit and credit card.

* Wear a money belt. You’ll save money by not losing it. Thieves target tourists because they know that you have money in your purses and walltes. Assume beggars are pickpockets. Be wary of commotions in crowds and fake police who ask to see your wallet.

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