If you want to cut down on travel costs and hold onto your money, this practical guide has the most helpful money tips for travelers and the most important tips for keeping your money safe while on vacation.
The benefit of carrying a credit card on vacation is that it is replaceable when lost or stolen and you are protected against fraudulent use. Another advantage is that it allows you to dispute payments when you have received poor service or purchased faulty merchandise.
The downside to relying on a credit card is that it could be declined by an ATM or refused when offered in payment. This can be a problem in some countries, so it is a good idea to carry cash and some traveler’s checks in addition to your credit card.
The problem with carrying cash is that you need to keep it well hidden and, unlike travelers checks, cash is not easy to replace.
Follow These Tips for Keeping Your Money Safe while on Vacation
Inform your credit card company that you are going overseas and make sure there will be no high fees charged for paying in a foreign currency. When paying by credit card, never let it out of your sight and check that you get your own card back.
Keep a spare wallet containing a small amount of cash, to hand it over if you are approached by a thief. Make it look genuine by placing some expendable credit cards and receipts inside.
Small inner pockets are safer than using a waist money belt for storing cash, credit cards or traveler’s checks, because it is too obvious when you carry all your money in the same place. Use multiple hiding places and make use of a hotel safe for money that is not needed when sightseeing or on an evening out.
Follow These Money Tips for Travelers If You Want to Cut Costs
The more planning that goes into your vacation, the more you will be able to take advantage of these money tips for travelers.
Save on the regular cost of air travel by arranging all your flights and purchasing tickets online. Air fares will also be lower if you travel off-season.
When possible, travel in a group, with a friend, a family member or partner. Then you can split the cost of car rental, taxi fares and hotel expenses. You pay only a little more for a double room than a single.
Book hotel rooms online to get the best price offers. At weekends, and throughout the week during the summer vacation period, business suites in top hotels are often available for little more than the price of a double room in a one star hotel.
Pay for all your vacation bookings with a credit card. Some credit cards provide free accidental life insurance when used for travel bookings. Other types of card will add points to a frequent flier account.
Keep a record of your reservations. If you have to cancel, it is less costly to do so in advance rather than at the last minute. You should also save money on your travel insurance by comparing costs and buying online.
Cut transportation costs on vacation by using an airport public transit connection instead of a taxi, and avoid travel by car in a big city, where bus services are more convenient and cheaper. Buy day passes or weekly travel cards for frequent use on buses or trains, and remember that families, students and seniors are eligible for discounts.
Keep dining costs down by avoiding restaurants catering for tourists. Breakfasts in hotel can also be overpriced. For breakfasts and snack lunches you can always get fresh food and drinks from local grocery stores. For evening meals, look for the type of restaurant that is mainly used by local people and is serving local dishes when fresh ingredients are in season.
One of the most practical money tips for travelers is to avoid being overcharged by always asking for a bill to be itemized. Then you can check each item and the cost. It is also important not to forget any of the above tips for keeping your money safe while on vacation.