Travelling puts us in a bit of a bind when it comes to currency. Sadly, we don’t all use the same currency worldwide, which means that it can be a bit of a headache to figure it all out on the go – especially if we are flitting from country to country.
Have A Basic Knowledge Of Maths
You’re not always going to have access to the Internet or your phone, so a basic knowledge to convert different currencies in your head is going to help. Sure, you may think that maths at school was a little silly as a subject (when do you ever use it?), but seriously, this could be one of those times where you’ll actually be glad. Look up how many of the local currency there is per one unit of yours (eg how many USD to GBP), and then use that figure to go from there. If all else fails and you DO have access to the net, it can be quickly calculated on there.
Know Your Options
Do you want cash, and if so, would you save money by ordering it in advance? Have you got a credit card with lower interest rates on foreign payments, or could you order a “currency card”. What different currencies do the countries you’re going to actually take?
In fact, do you even want physically money at all? If your plans involve making lots of online international transactions, perhaps a cryptocurrency is more what you need. These are decentralised currencies like Bitcoin. Many travellers find that everything from their lodging requirements (such as websites like Expedia) can be paid for in Bitcoin, and their leisure needs, too. Online gaming sites kill a lot of time on the road, and many do in fact take Bitcoin. The Vegas Casino blog with lots of recently added reviews, for example, also has information on how to make deposits with and actually use Bitcoin. They have the same value all over the world, so constant currency exchanges aren’t needed.
“Best money closer to the top.” (CC BY-SA 2.0) by zcopley
Download Apps
Apps, of all things, can keep your currency needs met on the move. Many are making it easier with travellers because certain websites offer commission-free currency exchange on the go. Transferwise, for example, cuts out the middle man and allows you to send money from home without loads of excess fees. This works if you – or a friend – has a local bank accounts, so for extended travel such as Working Holiday Visas, it can work really well. It uses the current exchange rate and doesn’t involve the banks.
Keep An Eye On World Events
It sounds strange, but political events can actually hugely affect the money we spend around the world. For example, in June 2016, when Brexit was voted in by the public, the British pound spiralled to an all-time low. This meant disaster for holiday makers and travellers, who soon found that their hard-earned cash wasn’t worth as much abroad as it once had been. Try to make tactical decisions before elections or big votes, or risk losing money in the future.
“Graph With Stacks Of Coins” (CC BY-SA 2.0) by kenteegardin
Double Check
Before parting with money, just double check that the price isn’t just seemingly good or bad because you’re thinking in your home currency. 10,000 Indonesian Rupees might seem like a lot for a snack, but it’s likely not even one pound sterling at any given point. Just pay it. You can afford it.
