How to Manage Money While Traveling
When you're traveling and having a good time, the last thing you want to worry about is money. Follow these steps to successfully manage your money while traveling so that you can have a stress-free trip and focus on enjoying yourself.
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Instructions
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Make a realistic budget based on the amount of money you'll need daily for food, hotels, rental car, activities and miscellaneous purchases. Budget a little extra for emergencies or for last minute shopping.
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Prepay for hotels, train tickets and rental cars, and bring all receipts and confirmation numbers with you on your trip.
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3
Go to your bank to exchange a small portion of your budgeted money into foreign currency if you're traveling internationally. Use this money for any expenses that you incur on your first day of travel, such as for cab fare or food. You can also exchange currency at your destination airport when you arrive.
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Bring your debit card to use daily if you prefer to debit money out of your checking account, and bring two different types of credit cards, such as a Visa and a MasterCard to use either daily or as backups. Double check the limit on your credit cards and the balance in your checking account before you leave.
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Withdraw money from the ATM each day to have some cash on you at all times. If you're traveling internationally, withdrawing cash from ATMs will give you a decent exchange rate.
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Leave one credit card in a lock box at the hotel. If you lose your wallet or purse, having a backup will save you a lot of time and hassle.
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Have fun. If you're on a budget, stick to it, but don't stress. Come adequately prepared so that enjoying your travels is your first priority.
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Tips & Warnings
When making your budget, don't forget to factor in the currency exchange rate if you're traveling internationally. If you're staying in the U.S., remember to factor in the higher costs of food and gas in various areas of the country such as in coastal regions and major cities.
Make photocopies of the fronts and backs of all debit and credit cards that you bring with you. Leave a copy at home with a trusted family member or friend, and leave the others in a lock box at the hotel. If you lose your wallet or purse, the photocopies will provide you with the necessary information to call your credit card company or bank and get things worked out quickly so that you can enjoy your trip.
Don't carry too much cash around. Using your credit or debit cards while traveling is safe and convenient, so there is no need to have large amounts of cash on you.
