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If you use ATMs to withdraw a foreign currency instead of going to an exchange office, you can save up to $70 for every $1000 of your travel budget.
The amount doesn't seem much at first, but small expenses can quickly add up thanks to different exchange rates.
And since you're already spending money on the trip, accommodation, and food, the last thing you need is a list of "unexpected expenses".
To make your trip more comfortable in the world of foreign currencies, we listed four tips to help you save money and spend it where you want, not where you need.
1. Don't Buy Before a Trip
Although preparing in advance is the golden rule of everything you do in life, it doesn't apply to foreign money.
Buying the currency of the country you're visiting might be tempting to do beforehand, but you should avoid if you can.
Exchange rates are terrible both in banks and airports. So it's always a better idea to wait. We mean, you can't buy with cash in an airplane anyhow.
2. Use ATMs as Much as Possible
Congrats, you resisted the urge to get money beforehand, and you're exiting the airport. Now what?
You might have already figured out from the introduction, but ATMs are your best friend in a foreign country.
Still, be aware that some ATMs (at airports especially) have a much worse exchange rate for currency exchange. So wait until you're in the city and find an ATM there.
3. Use No-Foreign Fee Credit Card
ATMs might be your best friend, but they do charge you a small fee for the currency conversion.
So the best way to avoid the fees is by getting a credit card with no foreign transaction fee.
You do have to spend time getting one, but if you want to cut the costs, we suggest to use one of the credit card apps to find the best offer for you.
Best 10 Credit Card Apps
4. Don't Let Tiny Digits Fool You
Finally, here's a bonus tip. Currencies like the British Pound or Euro are stronger than Dollar for example.
So psychologically speaking, paying something 7 pounds doesn't seem much until you realize it's $9.
Thus, it's good to learn the basic exchange rate. You can do that with a currency converter app like XE. This way, you can know the exact cost on the go.
Life surely doesn't come cheap, especially if you're taking a big trip to another country. Nevertheless, it's a unique experience worth spending the extra dime.
Still, that extra dime shouldn't go on exchange rates, and by using one of The Best 10 Apps for Exchanging Money, you can rest assured you'll spend it the right way.
Finally, with that extra cash in your pocket, why not visit a unique local restaurant or even better, turn a 7-day trip into a 10-day trip? Doesn't sound bad at all.Check below:
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