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You are here: Home / Blog / 23 Ways to Avoid Money Disasters While Traveling

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23 Ways to Avoid Money Disasters While Traveling

This post explores how to avoid money disasters while traveling.

Most of us would like to have copious amounts of money to spend on trips and vacations. Think about it for a moment.  You are in a far away land, one you have wanted to visit for the longest time ever. And, you are able to spend with the most pleasing abandon.  Doesn’t sound nice?

Yes, it is all good.  Well, more than good.

However, here on Planet Earth, a lot of us travel with limited resources.  Even though the word “limited” is subject to who you are and what you do for a living, there is something universal about our resources: we want to make the most out of them.

In other words, we want our money to go a long way and buy us things that matter.

During my travels, I have done a lot of stupid money related mistakes.  It hurts every time I have to pay a mysterious fee or end up being overcharged for a service because I didn’t do my homework beforehand.  And, I do not want to think about the times I have cried because all the ATMs in town decided to boycott me.

The good news is that I have learned from all those mistakes, sometimes the hard way, and feel like I take care of my money in a better way as a consequence.

I will keep making mistakes, that is a given. The more I travel, the more I learn.  In the meanwhile, here are the techniques I use to avoid money disasters while traveling.

How to avoid money disasters while traveling

  1. Budget, budget, budget!

Extremes do not tend to work well.  I do not want to be a travel scrooge but I do not want to return home with massive amounts of credit card debt.  Based on research, I set up a daily expenditure limit.  I do not obsess since I like to leave room for spontaneity.  However, being over budget by 300 bucks on my first two days of travel can be a red flag.

Not having a general idea of how much you are spending can make a huge dent in your wallet.  I do not believe travel has to take us to a hard financial situation

  1. Have an emergency fund

For each trip, make sure you put some money into a pot labeled “emergency.” Things happen and you have to be prepared.  You may need to spend money on clothing, shoes or medicines.  Plus, what if you learn about a “must do” activity that didn’t come up in your research?

  1. Know the currency exchange rate

I have noticed a considerable amount of people do not care about currency exchange rates when those rates are in their favor.  For example, people go to Mexico and do not mind paying 90 pesos for a bottle of Coke.  They assume that is the cheapest Coke they have bought in their lives because Mexico is a “cheap” country. Sorry baby but you just spent $5 or $6 on something that should cost a fifth of that.

Before leaving home, check the currency exchange rates for the country you are visiting.  Use a calculator (if needed) to check how much you are paying (unless you want to be taken advantage of).

How to avoid money disasters while traveling

  1. No fee credit and debit cards

Banking related topics can get complicated fast.  I am not going to go into details but keep in mind your bank (or the bank that owns your credit cards) can charge 3 or 4 fees when you are buying goods or services on a foreign currency.

Do your research and take abroad a card that charges no fees.

  1. Banks that do not charge fees

In the same way, you want to make sure the bank you are using on a foreign country does not charge banking fees.  The most common example is taking money out from an ATM machine.  Do you really want to pay to take out cash?  I do not think so.

Before departing for your trip, check what banks do not charge fees.

  1. Have a backup plan

This is a simple one.  Travel with two credit and two debit cards.  If something happens to one, you can rely on the other one.  A good idea is to use your no fee credit and debit cards as your primary travel cards and have the other cards where a fee is involved as a backup. I do not like to pay banking fees but, hey, sometimes you need to get cash on your hands.

How to avoid money disasters while traveling

  1. Divide monetary resources

Do not walk around with all your cash and cards.  Go out with some and leave the others securely stored on your accommodation.

  1. Pickpockets are the real deal

Since we are talking about dividing monetary resources, let me mention one thing.  Professional pickpockets and scammers congregate in areas with lots of pedestrian traffic.  They know what they are doing and they will get you if you are not prepared.

Ladies, travel with a purse that is difficult to rip from your body (I like crossbody bags).  Maintain the purse in front of you all the time.  Gentleman, keep your money in a front pocket that is protected with a button or zipper.  Plus, be alert when you are surrounded by a lot of people.

  1. Find reputable money exchange operations

With all the technological and banking advances available to travels, I do not rely on money exchange service providers.  I go for the best exchange rate and I do not think they provide it.  If you need to use one of these services, please find a reputable one (ask around or research). There is a lot of dishonesty in this industry.

How to avoid money disasters while traveling

  1. Keep proof of your money exchange transaction

Just in case, keep the receipt you are given when you exchange money.   This will work on your favor in the rare case there is something wrong with the money given to you (it is fake or something like that).

  1. Bring your passport to change money

Do not forget to bring your passport if you want to exchange money.  A decent agency will deny your request if you do not have your passport with you.

  1. Do not agree to buy a good or service without knowing how much it costs

Quick story.  A friend of mine once ate some shellfish from a local vendor while we were at the Dominican Republic.  He was shocked when the vendor charged him $70.  Things got a little bit messy and he ended up paying.  Moral of the story, please, please, do not consume a good or service without knowing the price.

How to avoid money disasters while traveling

  1. Look at the expiration date of your debit and credit cards

A month before a trip, you should look at the expiration date of your cards. In that way, you can get a new one if necessarily.

  1. Take into consideration holds

This one can be a real money disaster. For example, let’s say you rent a car and the agency places a $900 hold in your card.  They will release it once you return the car in good condition.  The problem is that you were counting with that amount of credit on your card to pay for your accommodation.  Now you are in trouble if you do not have a backup plan.  Once again, this is when research can save you.  I have heard of agencies that want to place hold as high as $3k.

  1. Add a travel notice to credit and debit accounts

Banks have started to combat identity theft and fraud in a very aggressive way.  In general, they will deny transactions that are non-compatible with your spending habits. To avoid having a transaction denied in a foreign destination, add a travel notice to your accounts.  Nowadays, you can do this by phone or online.  Do not forget to include in-transit destinations too.

There are several banks that do not require travel alerts anymore.  They will send you a text message and/or e-mail if they notice a strange transaction.  Once you respond confirming the transaction, things should be fine.  However, make sure you respond to the message in a reasonable time.

How to avoid money disasters while traveling

  1. Take a look at your bill

When you get your bill at a restaurant, check it line by line to make sure there are no errors or hidden fees.  If you have questions, ask.  You have no idea how many overcharges I have seen during my travels

  1. Do not assume you can get cash backs

Don’t you love the idea of buying something in a store and being able to get some cash at the same time.  Well, do not assume this practice is common in a country you are visiting.  Check before leaving home.

  1. Cash is still king in some places

Ahh, not sure why but cash is the ultimate currency medium in a lot of countries.  Therefore, you need to be prepared to pay with it (shocking if you like me do not get to see cash in weeks, direct deposit rocks!).   Do not be fooled.  This is not a practice exclusive of third world countries.  Places in Central and Eastern Europe run on cash.

How to avoid money disasters while traveling

  1. Make sure you have enough cash for the weekend

In some countries, the banking industry does not provide services during the weekends.  On top of that, banks have ATMs secured in a closed area.  If for some reason your ATM card does not open the closed area, well, you are out of luck (and will have to wait till Monday to get money).  This happened to me in a small town in Brazil.  I have been ready for the weekend after that.

  1. Have small bills in the local currency

Take out money from the ATM in a way that you end up with small bills.  For example, if you need 200, take out 220. It sucks when nobody wants to accept a large bill.

  1. Make sure the bills are not broken, dirty or marked

ATMs tend to dispense bills in a good condition. If you notice bills in less than optimal condition, enter the bank and ask for better bills.  Tons of businesses in Central and South America do not take broken, dirty or marked bills (yes, they check each bill).

How to avoid money disasters while traveling

  1. Do not use public Wi-Fi for banking transactions

Please be careful with this one.  In theory, anybody can see what you are doing on a public network.  Somebody can steal the password used to access your online banking area and use it to wipe your account.  Hotel networks may be unsecure too.

  1. Have somebody who can wire you money

For a case of extreme failure, have in mind who can help you out with some money.

There you have it! These are some of the things I have learned along the way.

I hope you find these suggestions useful and actionable.  Furthermore, I hope you can use your hard-earned money on things that affect your life in a positive way (not on a horrible money disaster!).

Do you agree with the suggestions on how to avoid money disasters while traveling?  Is there something you can add?

Please share if you enjoyed this post!

Ready to pin? Let’s do this!

Money tips, tricks and hacks – 23 ideas on how to avoid money disasters while traveling - We want our money to go a long way and buy us things that matter. Therefore, here are some suggestions on how to keep your money safe and working hard for you. Read on ‘cause this post goes beyond the money belts and pouches!

 

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130 Comments

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Comments

  1. Photo Cache says

    August 27, 2017 at 10:17 pm

    Yes, very important to discuss this part of the travel. We subscribe to most of this, especially alerting your credit cards of your travel plans a week or so before the travel, just in case you know. Sometimes even though you have put a travel alert on your cards, you might still find your card being denied. Happened to us.

    Reply
    • Ruth says

      September 4, 2017 at 1:37 pm

      Good for you! I didn’t know you can still be denied even with the travel alert. I have seen people who are denied because they forget to add transit, connecting or layover destinations on the alert (not saying that is your case).

      Reply
  2. Anda says

    August 29, 2017 at 12:06 pm

    Excellent advice, Ruth. We also made money mistakes over the years but learned our lessons. Lately you can’t even use your credit card abroad unless you notify the credit card company that you are traveling and where. That is a good thing. #TheWeeklyPostcard

    Reply
    • Ruth says

      September 4, 2017 at 1:39 pm

      Yes, Anda that is the case nowadays. It is good that credit card companies have upped their game. I remember one time my credit card was hacked in Brazil. I have had no problems in recent years.

      Reply
  3. Mandy says

    August 30, 2017 at 4:35 am

    I’ve definitely made some of these mistakes before. I think the one tip you left out is to always have American dollars on hand (unless you aren’t from the US). I feel like, almost anywhere, they will take American dollars even if you’ve run out of cash in their currency or your credit card doesn’t work. BUT you should keep the currency exchange rate in mind. For example, on our last day in Paris, my husband and I were trying to get to the airport and caught a cab. We thought we had enough Euros but ended up not. The cab driver allowed my husband to pay him in dollars since we didn’t have enough Euros. Of course, the end of the story was that we were ripped off since he paid more in dollars than we would have if we had had Euros (too tired and worried about catching the plane to do Euro to dollar exchange rate calculations), but the point is that we got out of the “sticky situation” with dollars.

    Another thing worthy of mentioning: there are credit cards and debit cards that do not charge fees in other countries. Schwab (debit) and Venture (credit) are two of them. If you can find a card that won’t charge fees, it’s like you are paying in your own currency. Win for the bank (the card gets used), win for you (no extra fees!).

    Thanks for the tips!

    With Love,
    Mandy

    Reply
    • Ruth says

      September 4, 2017 at 1:45 pm

      Mandy, thanks a lot for your wonderful comment. Agree you should always have a stack of dollars with you. You would never know when they can save you. But, do not be surprised if locals do not want to accept the dollars. It happened to me in Brazil. I had plenty of dollars and was out of the local currency. Nobody wanted the dollars and it was a very stressful situation.

      I use a no fee credit card from from Capital One. It works wonders. I have a debit card with the same company (I have to fund the account before traveling).

      Reply
  4. Kelleyn says

    August 30, 2017 at 9:30 am

    Ruth you have a really lovely blog! Yes, money can be tricky! I can’t per say I have really had any problems in all my years of traveling, but this is a really great this for the beginner as often times one just doesn’t think of these things. Now I am off to read your tips for Frankfurt as we are here for the next year and always looking for things to do.

    Reply
    • Ruth says

      September 4, 2017 at 1:48 pm

      Thank you so much! The thing is that money is managed differently in different countries. You may think you have seen it all and they you end up with a big surprise. That is why you should be alert. Wow, how awesome your news about Frankfurt. I would love to stay there for an extended period of time.

      Reply
  5. Keri | Ladies What Travel says

    August 30, 2017 at 9:38 am

    Great tips! #wanderfulwednesday

    Reply
    • Ruth says

      September 4, 2017 at 1:49 pm

      Thanks Keri!

      Reply
  6. Nerissa says

    August 30, 2017 at 11:47 am

    Great advice. I’ve learnt over the years to do the same for a some of these. Especially keeping cards and money in different places incase they get lost or stolen.

    Reply
    • Ruth says

      September 4, 2017 at 1:51 pm

      Good for you! Yes, you do not want to have everything on the same place.

      Reply
  7. Lina says

    August 30, 2017 at 12:20 pm

    Helpfull post!
    There is a lot of diffrent current exchange apps now, which you can use whithout wifi (it uploads the latest rate when you´re connected to wifi).
    Currently travel along Africas west coast and here cash is definietly king! It can be tricky to find an atm and a lot of times it out of order due to powercut or something. So we always carry along euro and Us dollar aswell.

    Reply
    • Ruth says

      September 4, 2017 at 1:54 pm

      Lina, that is a great advice. I need to download one of those apps. Traveling to several countries with different currencies can be super confusing. Wish you the best in your Africa’s travels.

      Reply
  8. Zara says

    August 30, 2017 at 2:04 pm

    Very well written. I see so many people falling into these traps and myself included from time to time. I know I could be better with money while travelling, and even my best intentions go out the window sometimes when I am feeling frivolous and free haha! But the less I spend, the more carefully I spend, the more I can travel!! Good post!

    Reply
    • Ruth says

      September 4, 2017 at 1:55 pm

      Zara, that is a good point and actually the point I am trying to make. Taking good care of your money can help you to travel more often or foe a longer period.

      Reply
  9. Lydia C. Lee says

    August 30, 2017 at 2:22 pm

    I can not stress the back up plan enough. I used to always do it with travellers cheques and then got lazy in the days of ATMs. And then in Vietnam, our travel money card got eaten by the ATM and it was only by accident I had the back up account card with me – with no idea how much money was in it. It was the only access to cash we had for the rest of the trip!! Great post. Even us frequent travellers get complacent.

    Reply
    • Ruth says

      September 4, 2017 at 1:58 pm

      That is not a situation I discussed in the post but I am glad you brought it up. To be honest, I will try to avoid the ATM machines that “swallow” the card. At least, I will do it during non-business hours. But, I know that is not always an option.

      Reply
  10. Danielle Dorrie says

    August 30, 2017 at 2:55 pm

    Hello! These are EXCELLENT tips. the one about having two of everything is right on. Thanks for sharing – looking forward to following!

    Reply
    • Ruth says

      September 4, 2017 at 1:59 pm

      Thanks Danielle! Glad you enjoyed reading the post.

      Reply
  11. The Curious Creature says

    August 30, 2017 at 4:23 pm

    Dividing monetary resources is KEY. Having travelled to over 40 countries I can tell you that tip alone has saved my ass a few times!!

    Reply
    • Ruth says

      September 4, 2017 at 2:01 pm

      Oh, you are so funny! But, it is true! I can think of so many situations where things can go wrong. I guess it is also essential for each member of the travel party to have monetary resources at hand (in case you get separated).

      Reply
  12. Emily says

    August 30, 2017 at 5:52 pm

    Great tips! I once went to the Philippines and had no idea what the exchange rate was, so when I withdrew money from the airport ATM, I had no idea how much to take out because I didn’t have a reference point. Oops!

    Reply
    • Ruth says

      September 4, 2017 at 2:03 pm

      That has happened to me too. The freaky thing is when the ATM asks you how many thousands you want to withdraw (it is a currency exchange thing but you are not used to withdraw thousands).

      Reply
  13. Julz says

    August 30, 2017 at 10:23 pm

    Great tips! Yes the exchange rate is super important! i usually try to travel with cash, just because plastic is so much harder to check how much you use – so my card is my emergency fund and otherwise i try to go by with wuat i have in my pocket for the day.

    Reply
    • Ruth says

      September 4, 2017 at 2:04 pm

      That is a good idea because you can control the budget better. Things can get out of control if you are swiping the card on every purchase.

      Reply
  14. lisa says

    August 31, 2017 at 5:30 am

    Great advice and yes always have an emergency fund! I got in India at a train station after missing my train. You have some really good tips here and sounds like you have had some experiences. I can never stick to a budget but when we travel full time form next year going to have too! Happy travells.

    Reply
    • Ruth says

      September 4, 2017 at 2:07 pm

      I try to stick to a budget as much as possible but try not to suppress the entire travel experience because of money. The other thing is that I travel with my husband and we have different ideas of what a budget is (we try to get to common ground before the trip).

      Reply
  15. jesh StG says

    August 31, 2017 at 11:29 am

    Very needed article! Glad you posted this:)
    About my “buckets” of paint – yes it was an investment, since I don’t know how much paint I would use when talking about paintings of over ten feet. Since it takes me 1 1/2 hours to go to the store for some colors and half an hour further for other colors, this has saved me on time and gas for the car. thanks for visiting!

    Reply
    • Ruth says

      September 4, 2017 at 2:09 pm

      Jesh, thanks for elaborating on your painting process. I find it very interesting. Glad you were able to find an efficient way to continue focusing on your art.

      Reply
  16. image-in-ing: weekly photo linkup says

    August 31, 2017 at 4:35 pm

    Such an informative and valuable post. Thanks for sharing, and for linking up:
    https://image-in-ing.blogspot.com/2017/08/lucky-shot.html

    Reply
    • Ruth says

      September 4, 2017 at 2:07 pm

      Thank you!

      Reply
  17. Amanda Blizzard says

    September 1, 2017 at 12:29 am

    Great tips! One thing that has helped me save money was to be aware of the global ATM alliance that my bank about about 200 other banks world wide are a part of!

    Reply
    • Ruth says

      September 4, 2017 at 2:11 pm

      Amanda, thanks for mentioning that. Using partner banks of your home bank is a great way to save money.

      Reply
  18. Ashfina says

    September 1, 2017 at 12:44 am

    oh this is such a smart list. I tend to go overboard while travelling *sigh*
    But this list going to make my travel planning much easier. thanks for sharing this 🙂

    Reply
    • Ruth says

      September 4, 2017 at 2:12 pm

      Really? I hope you are having tons of fun. Glad to know this list would be helpful for you.

      Reply
  19. Trish says

    September 1, 2017 at 2:48 am

    Excellent advice, Ruth. We have learned similar lessons over the years. We also got caught out buying fish in Greece many years ago and the restaurant charged us a fortune!
    My credit card was cloned just before we went to Canada: the hotel we were staying at couldn’t charge our bill to it because the credit card company had put a stop on it – we always make sure my husband and I bring a selection of different credit and debit cards.
    #FarawayFiles

    Reply
    • Ruth says

      September 4, 2017 at 2:15 pm

      Trish, seems like we have had similar experiences. I really get a bit mad when I am charges unexpected fees. Once time, a restaurant wanted to charge us 12 dollars for the live music. I asked if that was compulsory and they said no. I asked them to take it out of the bill.

      Reply
  20. Tracy says

    September 1, 2017 at 4:45 am

    Excellent tips! I find the hardest for me is to stick to a budget! We spent 20% more than I budgeted for on our last trip – I think this is one area I really need to work on!

    Reply
    • Ruth says

      September 4, 2017 at 8:24 pm

      Believe me, I think that is a lot of people’s pressure point.

      Reply
  21. Sharon Wagner says

    September 1, 2017 at 6:11 am

    So far so good on that front. I do love to take photos of colorful currency when we are in Central America.

    Reply
    • Ruth says

      September 4, 2017 at 8:27 pm

      The currency in Central America (and Mexico) is very interesting. They have a lot of motives related to their roots and heritage.

      Reply
  22. Deea says

    September 1, 2017 at 7:52 am

    Very good points, Ruth! Number #9 really hit me in Prague when everybody was trying to rip us off with their bad exchange rates and hidden fees up to 30%! If you distanced yourself a couple of streets from the tourist areas, you could find fair exchange shops, but it’s incredible how many people were going with the first ones because they didn’t know…

    Reply
    • Ruth says

      September 4, 2017 at 8:29 pm

      It is funny you mentioned that because I was thinking about Prague when I wrote that tip! Our guide (from a free tour we took) keep repeating over and over to be careful with the people who change money. He pointed the group to reliable houses. Wow, 30% fee? That is incredible!

      Reply
  23. Jenn | By Land and Sea says

    September 1, 2017 at 7:53 am

    What a great list of tips! I too hate it when I make silly yet wasteful money mistakes while traveling! Saving this for later!!

    Reply
    • Ruth says

      September 4, 2017 at 8:30 pm

      Thanks Jenn, we all make mistakes but the important thing is to learn from those mistakes.

      Reply
  24. Amanda Keeley-Thurman says

    September 1, 2017 at 9:53 am

    Great tips! I use a few of these myself, but I learned a few new ones too! So important to be money smart when traveling.

    Reply
    • Ruth says

      September 4, 2017 at 8:31 pm

      That is great Amanda! Stoked you learned something from these.

      Reply
  25. Ava Meena says

    September 1, 2017 at 10:34 am

    These are all great tips and I definitely need to heed some of them before our next international trip! When we were living in Germany it was easy to exchange money and or use our German debit card when traveling in Europe but that’s not necessarily the case when traveling from the US to a foreign country. And, as you’ve mentioned, planning ahead can help a lot! #FarawayFiles

    Reply
    • Ruth says

      September 4, 2017 at 8:34 pm

      Eva, I agree. Sometimes you think things like a 3% or 5% fee is not much but if you have to make multiple transactions, that will add up. I try not to give anything to the banks (if not necessary).

      Reply
  26. Annalise says

    September 1, 2017 at 10:53 am

    Such great advice! It’s so hard to think about money when you’re going away but a mini checklist like this will be so useful! Sadly, I’ve fallen into a few of these traps which is annoying!

    Reply
    • Ruth says

      September 4, 2017 at 8:36 pm

      I know! The thing is that resources are usually limited and I do not like to accumulate debt. Do not worry, a lot of us have fallen for some of these.

      Reply
  27. Anisa says

    September 1, 2017 at 1:19 pm

    Great tips. I always have issues calculated the exchange rate in my head, so yes I do use a calculator just to be sure. Sometimes people try to rush you but I make sure I know how much it really is before buying. Thanks for sharing on #TheWeeklyPostcard.

    Reply
    • Ruth says

      September 4, 2017 at 8:38 pm

      Anisa, I see the rushing thing as part of the selling routine. Of course, they do not want to give you time to think about it.

      Reply
  28. Tanja (the Red phone box travels) says

    September 1, 2017 at 1:32 pm

    all excellent advice! budgeting is very important as well as carrying local cash in small bills #theweeklypostcard

    Reply
    • Ruth says

      September 4, 2017 at 8:39 pm

      Thanks Tanja!

      Reply
  29. Rhonda Albom says

    September 1, 2017 at 6:19 pm

    Great advice and I follow all of these when I travel. Finding a card with no fees and, good FX rates, and no surcharges is gold. Check everywhere because this one thing will stretch your purchase power

    Reply
    • Ruth says

      September 4, 2017 at 8:41 pm

      Rhonda, good for you! I feel like walking over clouds after getting my no fee cards.

      Reply
  30. Michelle | michwanderlust says

    September 1, 2017 at 9:27 pm

    Great tips, Ruth! This is such an important topic, it’s definitely important to protect ourselves as much as we can when travelling. I recall on one occasion in Bangkok, we went to a famous seafood restaurant and ordered a LOT of food – because we were starving and everything in BKK is cheap, right? The menu listed “seasonal prices” for many of the items, and we made the mistake of not checking the prices before we ordered. Needless to say, we got a big shock at the end of the night. And I’m never making that mistake again!

    Reply
    • Ruth says

      September 4, 2017 at 8:43 pm

      Michelle, thanks for sharing your experience. I get that some things are seasonally priced but it can be used in whatever way the restaurant want. They can charge more to outsider if they want. I have seen this done when there are menus in different languages with different prices.

      Reply
  31. Michele {Malaysian Meanders} says

    September 1, 2017 at 10:39 pm

    Really great tips! I have a great currency exchange app (whose name I am currently forgetting) which is so helpful in figuring out how much things cost in a unit that I can comprehend. With that type of technology at a person’s fingertips, people really have no excuse to ignore the exchange rate when making purchases. In any case, I keep surprising myself on how many money mistakes I pop up and surprise me. Like my cards not working in Chinese ATMs or prematurely using up all my cash in the Philippines without realizing there was an exit tax. I also used to think that if I changed the currency displayed on an online booking site, it would also change the currency they charge in. Nope!

    Reply
    • Ruth says

      September 4, 2017 at 8:49 pm

      Michelle, you added a lot of great points in your comments. It is a good idea to use your no fee credit cards to make online travel reservations. Like you mentioned, some sites charge you in a foreign currency (you will end up paying fees if you do not use that card). The exit tax thing has happened to me too. Sometimes, the tax is high and has to be paid in cash.

      Reply
  32. Cris says

    September 1, 2017 at 11:53 pm

    Excellent tips! I’ve written extensively about safety while traveling, VPNs and everything else I could think of 🙂
    With a little bit of practice, anyone can be safe and avoid money disasters.
    I have never used my bank website from anything but my laptop (with VPN or connected to my cells wi-fi on my roaming plan). And I never ever even install the bank app on my cell.

    Reply
    • Ruth says

      September 4, 2017 at 8:51 pm

      Cris, thanks for sharing your expertise. The banking app tips got me thinking.

      Reply
  33. Paul and Carole says

    September 2, 2017 at 12:22 am

    Great advice here, particularly about an emergency fund and securing your bag when in crowds. Sometimes it is hard to keep to a budget as we do enjoy splashing out but nothing worse than coming home to debt. Thanks for sharing. #feetdotravel

    Reply
    • Ruth says

      September 4, 2017 at 8:52 pm

      That emergency fund is crucial. I know we all feel like traveling more often but some cushion is needed.

      Reply
  34. Catherine - Red Door Ponderings says

    September 2, 2017 at 12:26 am

    Great advice. We always forget about the ‘holds’ that can be placed on cards – they can really catch you out. Really liked your practical advice throughout.

    Reply
    • Ruth says

      September 4, 2017 at 8:54 pm

      Thanks Catherine! Those holds can really mess you up. I once had a $900 dollars hold places by rental car agency. We didn’t know till something went wrong.

      Reply
  35. Toni says

    September 2, 2017 at 2:00 am

    Awesome tips here! I am so a money conscious person. I really believe paying attention to your credit and debit card bills so you’re aware of currency exchanges is vital. I also know that holds on credit cards are also not considered by people as much as they should be. But most definitely using secure wifi is the biggest key.

    All of these are so relevant.

    Reply
    • Ruth says

      September 4, 2017 at 8:55 pm

      Toni, thanks for sharing your insights. A lot of us think the Internet is secure but it is not (if you do not take precautions).

      Reply
  36. Angie (FeetDoTravel) says

    September 2, 2017 at 2:07 am

    Great advice! As a full time traveller, there are a lot of tips you have given that we had to do before we left the UK, especially around bank/credit cards and banks themselves – we didn’t want to be stranded a million miles from home with no way of accessing money because an ATM had swallowed our only card or something like that. I also hate the monetary mistakes I have made so far, and I know there will be more … I hope I will live and learn! #feetdotravel

    Reply
    • Ruth says

      September 4, 2017 at 8:57 pm

      Angie, well said. it is a different animal when you are travelling all the time. A lot of my money mistakes have been made under pressure. Therefore, I try to avoid stressful situations at all costs.

      Reply
  37. Theresa says

    September 2, 2017 at 2:57 am

    This is a great post, I’m going to pin in for reference. Very comprehensive tips. I already do several of them, but you always miss some.

    Reply
    • Ruth says

      September 4, 2017 at 8:58 pm

      That is great Theresa! Glad you can put some of these into practice.

      Reply
  38. Abby says

    September 2, 2017 at 3:15 am

    Pickpockets! Definitely a bother. I’ve had my mobile stolen in the local trains in my home country, but I was lucky in Rome.
    We were on the metro and only when we got off the train realized that my bag had been opened. Strange though, the train was only crowded for a few stops, and then got emptier for the rest of the 15 minute journey, but no one on it bothered to tell me that my bag was open. Luckily my purse was in another section of the bag, and all the pickpocket had access to was a lot of boxes of juice. 😉
    Definitely good advice about keeping the bag in front or using a cross bag.

    Reply
    • Ruth says

      September 5, 2017 at 9:10 pm

      Wow, such a bad story. Thank goodness your purse was somewhere else. People do not realize how dangerous pickpockets are. They think they are not going to be affected by them.

      Reply
  39. Lolo says

    September 2, 2017 at 7:31 am

    These are some great tips! I should really follow the rule of having an extra stash just in case! The problem is we’re such an American couple, we always use our credit cards…and yet we struggle in Germany because we know they don’t always accept CCs. I hate running to the ATM! Thanks for linking up with #TheWeeklyPostcard!

    Reply
    • Ruth says

      September 5, 2017 at 9:12 pm

      Running to the ATM is not my favorite thing neither. It happened to me in Luxembourg and Munich. It took us forever to find an ATM.

      Reply
  40. Sarah says

    September 2, 2017 at 7:49 am

    Good tips. We try to never ever exchange money and only get local currency in ATMs. We have a no-fee bank account and so can take out small amounts of money at a time so we’re not left over with a lot.

    Reply
    • Ruth says

      September 5, 2017 at 9:12 pm

      Good Sarah! Seems like you have things sorted out!

      Reply
  41. Kat says

    September 2, 2017 at 8:24 am

    Adding a travel notice to your credit and debit cards is such a good tip and one that lots of people forget or overlook when they’re travelling. It can be such a pain to have your cards declined because you’re bank thinks your cards have been stolen.

    Reply
    • Ruth says

      September 5, 2017 at 9:13 pm

      Yes and then you have to call the credit card or contact them thru e-mail. Not fun and not worth the stress.

      Reply
  42. Carol says

    September 2, 2017 at 10:13 am

    Great post and so much good info. You are wise beyond your years – guess you’ve had a lot of experience!

    Reply
    • Ruth says

      September 5, 2017 at 9:14 pm

      Oh Carol! Thanks a lot for your comment. I guess I have learned after many falls.

      Reply
  43. Megan Johnson says

    September 2, 2017 at 10:43 am

    Ohh man, I almost ran out of money twice, TWICE! in the Philippines. You’d think I would have learned. Luckily I was with someone that let me borrow some and I paid her back once I got to an ATM that my card worked with! And, in Taiwan, the first time I needed to use an ATM it wouldn’t work with my card, so I wandered around trying every one I saw until I finally saw a Western Union. I was thankfully able to get money out from that one, but it was a close call! Too close!

    Reply
    • Ruth says

      September 5, 2017 at 9:16 pm

      The banks in some countries are not connected to international networks so you card are not going to work on them. That happened to me on Brazil. No national bank was giving me money.

      Reply
  44. Carrie says

    September 2, 2017 at 11:58 am

    These tips are so useful! One other thing I always do is check not just the exchange rate in terms of what’s $1 equal to, but also what 100 of the local currency, 50, etc. amounts to. This is super helpful when the exchange rate is something hard to calculate in your head, like 17-to-one. I got overcharged in Ethiopia when I couldn’t figure out how much 100 birr was quickly enough to pay my taxi driver — never again.

    Reply
    • Ruth says

      September 5, 2017 at 9:18 pm

      Carrie, thanks so much for sharing your tips. I do that two. I tend to have the conversion for 100 and then can go p or down depending how much I am charged.

      Reply
  45. Mapping The Map says

    September 2, 2017 at 1:38 pm

    Very interesting post! We try to follow those tips in our travels. In particular it is important to be aware of the exchange rate because as you say some countries seem to be cheap but when it comes to tourism they are not as cheap as we think. #TheWeeklyPostcard

    Reply
    • Ruth says

      September 5, 2017 at 9:20 pm

      That is true! Some businesses are going to try to take advantage of you. You should not let them take advantage of you.

      Reply
  46. Steph says

    September 2, 2017 at 3:58 pm

    Oh yes, I learnt the hard way to always travel with backup cards! Some great advice here.

    Reply
    • Ruth says

      September 5, 2017 at 9:19 pm

      Thanks Steph! Backups are always needed.

      Reply
  47. Barry says

    September 2, 2017 at 11:32 pm

    Great bunch of tips and a little common-sense goes a long way. It’s not always that easy when you travel though and the temptation to overspend in the moment is very real. I always budget for my month’s travel and add 20% just in case. I have a travel emergency account also for emergencies.

    Reply
    • Ruth says

      September 5, 2017 at 9:27 pm

      Great to read your perspective Barry! Like you say, it is tempting to spend but you will regret that decision later.

      Reply
  48. Shona says

    September 3, 2017 at 12:20 am

    Sadly, there’s no bottomless money pit so having a few tips to prepare for travel expense is handy. There’s always something that slips through the cracks but the more prepared the less that will matter.

    Reply
    • Ruth says

      September 5, 2017 at 9:29 pm

      Shona, have to agree with you! The more prepared the better.

      Reply
  49. lexie says

    September 3, 2017 at 12:40 am

    This is an excellent topic as a lot of travellers ignore, I mean it really depends too but this is so helpful for travel bloggers, We don’t get that much income anyway if we constantly rely on one resource. It’s an essential thing to plan first and bugdet on crunch. I really did enjoy reading I’ll be bookmarking this post 🙂

    Reply
    • Ruth says

      September 5, 2017 at 9:30 pm

      Oh Lexia, you are so kind. Glad you enjoyed and learned reading this post.

      Reply
  50. Jenn says

    September 3, 2017 at 2:23 am

    These are some great tips! Just curious, what do you do when you are traveling to countries with multiple currencies? Do you take cash for all those countries with you or would you use an atm machine? I’m doing a RTW trip and would love to know what my best options are.

    Reply
    • Ruth says

      September 5, 2017 at 9:35 pm

      Jenn, I take cash from the ATMs. On those cases, I try to have a good idea of how I am going to spend daily. If I am about to leave and need to buy something, I use the credit card (no fee).

      Reply
  51. Clare (Suitcases and Sandcastles) says

    September 3, 2017 at 8:30 am

    Some really useful tips and tricks here, Ruth. We’ve been caught out with bank charges for using debit cards abroad too often. We now take a lot more money out with us and try and avoid using the debit card at all apart from for big items like the hotel bill or hiring a car. It’s very useful taking cash particularly on small Mediterranean islands where they don’t have many ATMs around. Thanks for sharing on #FarawayFiles

    Reply
    • Ruth says

      September 5, 2017 at 9:37 pm

      Hi Clare, thanks for your comment. Isolated places can be tricky, so, yes, you have to plan for that.

      Reply
  52. Go Far Grow Close says

    September 3, 2017 at 11:25 am

    Great article. I can imagine how difficult some of these lessons were to learn – like no access to cash over a weekend in a town that likely only accepts cash! I like to prepay things as much as possible before I leave. It helps me budget over the months beforehand and it limits how often I have to access my credit card for big purchases.

    Reply
    • Ruth says

      September 5, 2017 at 9:41 pm

      I try to prepaid too. But, like you know, you have to pay most hotels once you are there. So, you have to spend while moving around.

      Reply
  53. Edith says

    September 3, 2017 at 11:40 am

    These are such great tips! We’ll be starting our round the world trip next month so reading it helps me prepare ahead of time for any disaster that may be prone to happen! #weekendwanderlust

    Reply
    • Ruth says

      September 5, 2017 at 9:42 pm

      So good to hear that Edith!

      Reply
  54. eileen g says

    September 3, 2017 at 12:52 pm

    These are good tips. In countries where they take US Dollars we make sure to have small bills since vendors might not have change for a $20. And if we need to pay in dollars or exchange physical dollars we make sure the bills are in good shape. Some countries are picky about that.

    Reply
    • Ruth says

      September 5, 2017 at 9:50 pm

      True Eileen! You risk losing money with large bills. It is good to have small bills when negotiating something. A large bill will not help you in that case.

      Reply
  55. Laryssa Gobets says

    September 3, 2017 at 7:37 pm

    what great tips. We found that in Curacao american dollars were worth more than the guilder. We worked hard to get rid of the guilders when we left. #theweeklypostcard

    Reply
    • Ruth says

      September 5, 2017 at 9:53 pm

      Yes, sometimes it is hard to change back the extra money in local currency.

      Reply
  56. budget jan says

    September 3, 2017 at 10:24 pm

    I agree with all of these. I think the most important is to have two unrelated bank accounts so that is one card is stopped or lost you have a back up.

    Reply
    • Ruth says

      September 5, 2017 at 9:59 pm

      Thanks Jan! Backups are so important. They are a life saver.

      Reply
  57. Urska - Slovenian Girl Abroad says

    September 4, 2017 at 3:51 am

    Useful tips Ruth! I agree with all the things written. 🙂 #FarawayFiles

    Reply
    • Ruth says

      September 5, 2017 at 9:54 pm

      Thanks Urska!

      Reply
  58. Jessica @ Independent Travel Cats says

    September 4, 2017 at 11:38 am

    Hi Ruth, Some great money saving tips everyone should be thinking about when traveling, especially internationally! We have also used money exchange places fairly often as we are often traveling between countries that require cash (some currencies can’t be taken out of a country [its actually illegal in some places] or are difficult to exchange outside their country of origin) and have been able to almost always find reasonable rates – we just check the currency exchange rate and then compare based on that. Airports and banks usually have legitimate money exchange places. But again that is mostly for developing countries! Best, Jessica

    Reply
    • Ruth says

      September 5, 2017 at 10:02 pm

      Jessica, thanks a lot for sharing your insight. I didn’t know it is not allowed to take some currencies out of the countries. Hope I have not done that without knowing it.

      Reply
  59. Jim ~ ReflectionsEnroute says

    September 4, 2017 at 8:58 pm

    Great advice! And yes, pickpockets are real. Riding a streetcar in Lisbon, I had my wallet in my front pocket and my hand in the pocket with it. Suddenly I felt another hand in my pocket trying to get my hand off the wallet! I elbowed very hard and the “gentleman” quickly backed away.

    Reply
    • Ruth says

      September 5, 2017 at 10:03 pm

      Good catch Jim! At least, you had your hand in your pocket. My husband has pants with buttons and zippers (on the front side of the pants). He use those for travel.

      Reply
  60. Marcelle says

    September 4, 2017 at 9:06 pm

    What is really annoying is, that there are no bank cards in Europe without fees or banks who don’t take transaction fees for the use of ATM’s. I envy the Americans for this. Adding up the amount on fees I paid the last five years I could probably go on a cruise ship holiday.

    Reply
    • Ruth says

      September 5, 2017 at 10:04 pm

      Marcelle, I didn’t know that. That must be frustrating.

      Reply
  61. Erin Gustafson | Oregon Girl Around the World says

    September 6, 2017 at 11:25 am

    Great post and fabulous tips Ruth. We have run up against the car company hold on our bank and learned the hard way what that does to your expected travel budget if not prepared! Also with Copenhagen being a virtually cashless society, we often forget how many places only do cash – I will admit I was shocked in Berlin to find a specialty boutique toy shop that would only take cash. This was no small village – this was Berlin! Great tips and reminders for even the seasoned traveler. Thanks for sharing with #FarawayFiles, Erin

    Reply
  62. shere says

    September 8, 2017 at 12:56 pm

    Great tips!! I have a credit card that I can use to take many in any country in the world without paying any commission. This is the one I use all the time.
    I once had the exchange course wrong, in Costa Rica. I normally take many from the ATM in the airport. I thought I would have taken the equivalent to 200€, but i had just 20€, ha,ha,ha. After a long flight and with a tired toddler mistakes happened.

    Reply
  63. Sandy N Vyjay says

    September 9, 2017 at 12:20 am

    These are really sensible and practical tips on avoiding money disasters during travel. We always budget for out travel and plan well in advance. Also we do not carry much physical cash, only as much as is required.

    Reply
  64. jennie bee says

    October 6, 2017 at 2:24 am

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    Reply
  65. Thomas Espeute says

    November 6, 2017 at 2:15 am

    Hi Ruth! There is lots of great information in your article!!! It can be useful for the people traveling to Colombia!!!

    I like the mobile bank to avoid paying bank fees 😉

    Reply
  66. Nancie says

    July 17, 2018 at 11:10 am

    Excellent tips, Ruth. I always use the ATM at the airport to get my first cash upon arrival. I have always found that bank ATMs have the best exchange rate. Some countries (Thailand comes to mind) charge a rather significant service charge. The last time I was in Thailand it was around 7 or 8 dollars per transaction, so to ease that pain try to make larger withdrawals

    Reply
  67. Cannon Law says

    October 13, 2018 at 8:13 am

    To me, two things worked out: vigorous planning of budget and learning many ways of making money, like investment and quick learning strategy for any discipline available next to me. Hope this helps and adds value to your tips

    Reply
  68. The Oaks Plastic surgery says

    October 15, 2018 at 10:38 am

    It´s very interesting… all the info you shared. Especially the banking tips on public wi fi. I used to do that. But I´m not doing that anymore

    Reply
  69. Tyler Flood says

    October 18, 2018 at 10:35 am

    The topic is really difficult as there are too many things that can happen. I wish there’d be a system analogous to data storage one like Dropbox where you put money and only you and no one else can access these money

    Reply
  70. Natalie Oscar says

    March 19, 2019 at 7:06 am

    I have read your blog its really good and awesome. I want to ask which company is providing best Airbnb services?

    Reply

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Ruth
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