Spending more than you planned on vacation can be all too easy. Purchasing souvenirs and items of
clothing you forgot to pack can all mount up, not to mention using the excuse ‘I’m on vacation!’
However, there are several things you can do to take control of your money and stick to your budget
while traveling.
Foreign currency
Before you go, find out how much it will cost to purchase travel money while you’re away. Most
banks have certain charges in place for withdrawing foreign currency from ATMs when abroad. To
avoid repeat charges, consider exchanging all your travel money before you go. As an alternative,
exchange your currency online. You’ll find some great rates and you’ll also be able to keep on top of
the best time to buy.
Prepaid debit card
A prepaid travel card, such as Travelex’s chip and PIN-enabled MasterCard Cash Passport (available
in Euros and British Pounds), allows you to pre-load your vacation budget for use in millions of
shops, restaurants and ATMs. Simply load your card for much of the convenience of a traditional
debit card.
Monitor spending
Keep hold of your receipts and check your bank balance to monitor how much you are spending
each day. It may not sound like much fun while you’re on vacation, but it could save a lot of stress
when you get home.
Expect the unexpected
If the weather forecast predicted blue skies and sunshine for your time away and your suitcase is
full of shorts and t-shirts, how will your budget cope with having to buy a raincoat if it rains instead?
Increase your travel budget by 10% to accommodate any unforeseen expenses, like the wrong kind
of weather, and help you stay within budget.
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