If you’re planning an international trip, you’ll also want to prepare financially. The following are some money tips for international travel:
Notify your credit card companies
Before you leave the country, decide what credit cards you’ll bring with you and be sure to call them to tell them you’ll be traveling. If you’re bringing your debit card, you’ll also want to call your bank. Otherwise, your cards might get declined when you try to use them overseas. Although it’s meant to protect you against fraud, this can be an easy way to ruin your trip. Make sure this doesn’t happen to you, by putting a travel alert on your accounts before you leave.
Look for a no foreign transaction fee credit card
The majority of credit cards will impose extra fees when you charge anything while you’re overseas. If you have plans to travel a lot internationally, or you’re looking for a new credit card anyway, you may want to shop around for one that doesn’t impose these fees.
Explore your options for currency exchange
You have several different options when it comes to exchanging currency. You can exchange cash before you leave, once you get there, withdraw foreign currency from the ATM when you arrive, or just avoid cash purchases altogether and stick to credit card use. But picking the most convenient option might not be the cheapest, and you should compare the different options so that you can ensure you’re getting the best deal.
Consider traveler’s checks
Traveler’s checks can be good to bring with you in case of emergencies or if you feel uncomfortable traveling with large amounts of cash. Although traveler’s checks are still widely accepted in different places, they are not as common as they once were. Be sure to check the destination you’re visiting and ask your hotel if they (or anyplace nearby) can cash your traveler’s checks.
Be smart when carrying money
Getting robbed is one of the worst things that can happen while you’re on vacation. Although some countries have more cases of theft than others, it never hurts to be too careful, regardless of where you’re going. Only carry what you need with you and leave the rest of what you have back in your hotel room’s safe. When you’re out and about, avoid carrying cash and credit cards in bags that can be easily snatched or slashed. Opt for pouches and security belts that are designed specifically for travel and protect against theft.
Research the tipping situation
You may think you’re being courteous by offering a gratuity, but tipping customs tend to vary widely by country. In some countries, it can be considered an insult; in others, gratuity is always included on restaurant bills. Research the country you’re visiting and find out if it’s customary to tip and what the standard amount is.
Do you have dreams to travel, but bills and expenses make it difficult? Do you wish you had extra cash to pay off debt and catch up on overdue payments? Peachtree Financial Solutions may be able to help. If you’re receiving payments from a structured settlement or annuity, you can access more of your money sooner by selling future payments to Peachtree. Contact us today to learn more about the process and to find out how you can receive a lump sum payment.
Nothing above is meant to provide financial or tax advice. You should meet with appropriate professionals for such services.