How to Save Money While Travelling Abroad | Travel Abroad
While travelling abroad, it is important for you to have enough money with you. The last thing you want on an overseas trip is running out of money. Ensure that there is sufficient money before you make that trip. Here are a few ways to help you manage your finances while staying abroad and a certain means that can assist you in limiting your expenses.
Having Sufficient Alternatives
There is always this wrong affirmation that you should not carry cash while travelling abroad. No, that should not be the case. Always see to it that you have multiple choices when it comes to making transactions. Ensure that you carry your cash, credit cards, and even your travel cards with you before you make that trip. God forbid if you also lose any of your cards, you will still end up having cash to spend on your needs abroad.
Converting money abroad not a good idea
Try not to convert your Indian rupees into foreign currency abroad. What this does is it costs you twice or thrice the amount, and you will spend most of your money. You can opt for conversion only when you have completely dried out your purse or wallet.
Why is carrying USD a better option?
The value of USD is no secret to keep. It is universally accepted, and the best part is you get a reasonable sum for USD than any other form of currency. Most shops take in USD at better rates, so carrying currency in the form of US dollars is a better option in case you do not get the destination currency.
There might be countries that may not use cards, but almost every country in the world accepts cash currency. Unlike other forms of currency, there is no need to force yourself into buying things if you end up saving USDs at the end of your trip. You can bring them back and have them converted or hold them for future trips.
Some individuals get their USD converted from airport currency exchange counters. These types of currency exchange centres give you the worst returns. Make sure that you never get it exchanged from any airport currency exchange department.
Informing the credit card agencies about your travel plans
Whenever you travel, ensure that you contact your credit card agency and inform them about your journey. Sometimes, your credit cards get blocked when you leave the country, and you don’t want that to happen.
Prior information must be given to the agency so that you will have access to your credit cards, even in other countries. You also need to know how much currency you can carry. Most countries, including India, do not allow you to travel with more than 3000 USD in cash.
ATM operations abroad
Whenever you make a transaction abroad, be aware that the ATMs take in a sufficient amount as commission per transaction. So, make sure that most of your purchases are through cards without using the ATM. Also, see to it that you make transactions through your travel cards rather than debit cards or credit cards.
Before travelling abroad, make sure that you have a sufficient amount of funds to help your stay. With the advent of technology, it has become more comfortable to send money abroad for hotel or package bookings from India. Even if you’re out of money there is always the option to remit money from India. You may find it challenging to convert the currency unless the person from India has the knowledge of outward remittance.
If not, there is always the option to get your currency exchanged from a foreign currency exchange agency . As discussed earlier, the best way to stay away from all this mess is to have multiple transaction options. You can carry a multi-currency travel card that might solve most of your problems. You can also purchase forex cards online that will help you manage the foreign currency. Happy Journey!