10 money mistakes we’re all guilty of making on holidays
We’re going to take a look at 10 common money mistakes we’ve been making while travelling. Follow this advice and you can bank on a hassle-free holiday.
1. Not having travel insurance
In the end of the day there’s no way to 100 per cent guarantee something won’t go wrong while on holiday. The only way to prepare is reliable travel insurance.
2. Having limited travel money options
Flexibility is key when it comes to managing your money overseas, so it’s generally a good idea to have a bit of cash handy, as well as a reliable travel money card.
3. Exchanging money at the airport
Airports are notorious for their terrible exchange rates, and often have additional fees. It’s better to exchange it advance at locked in fees with a travel money card.
4. Packing traveller’s cheques
Traveller’s cheques are fast going the way of the dodo, and barely anyone accepts them anymore. It just isn’t worth the effort obtaining and purchasing them.
5. Assuming you know how much to tip
Tipping customs vary greatly from country to country, and if you’re not careful you can be left with a tipping experience that it both awkward and expensive.
6. Not protecting your valuables
It might feel natural to carelessly shove your wallet in your back pocket or hand your purse over your shoulder, but you also leave yourself open to pickpockets.
7. Using public wifi for financial transactions
While this might seem like the quickest way to check your bank balance or make an online payment, it’s much more secure to wait until you get back to the hotel.
8. Writing the PIN number for your travel card down
If you’ve got a new PIN number for your travel money card you may be tempted to write it down on a piece of paper, but it could lead you vulnerable to thieves.
9. Using your credit card at an ATM
This is never a good idea. Not only does this leave you vulnerable thieves and fraud, it also counts as a cash advance that will leave you stuck with higher fees.
10. Not stashing any cash
It’s also a good idea to have a bit of cash stashed around in a few areas in your luggage just in case you find yourself in a tricky bind while you’re overseas.
What money managing advice would you give to someone travelling? Share your thoughts in the comments.