Look after your money when you are away. The notes and coins will be unfamiliar, so be vigilant.

There . . . → Read More: General Money Tips]]>

Look after your money when you are away. The notes and coins will be unfamiliar, so be vigilant.

There are lots of people who may use your ignorance to their advantage, so get itemised bills when possible and ask to have all charges explained to you if you don’t understand them.

Use a calculator if necessary to work out percentages, tips, etc., do your own arithmetic (i.e. don’t rely on theirs) and never let anyone rush you.

If you are using cash and you are given change, count it immediately in front of the storekeeper (except in Japan where it is considered rude to ever count change).

For countries where you can’t use traveller’s cheques or charge cards (usually in the third world), take a quantity of one-dollar American bills or low denomination Euros, and secrete them around your pack/clothes (under the insole of your shoes, for example), as these are considered the nearest thing to a universal currency and can be used almost everywhere.



Before you leave, remember to let all your card issuers know you are going away and where you are going so that you don’t get your cards suspended when you use them in a foreign country (call the Customer Service Department). This is important as sometimes it is hard for them to contact you when you are away to check it is really you using the card.

Look after your cards too. The magnetic strip can easily get worn with a lot of use and even demagnetised by various means and it can be hard to get replacements to you at short notice or in some countries.

The pads used to deactivate security devices in new books, CDs, and DVD’s, some security screening machines, fridge magnets, speakers, some cell phones, and magnetic clasps on wallets and purses can also demagnetise a credit card, as well as other cards such as transit passes used on many subway systems.

You can get protective paper envelopes for your cards at some banks in the States (Chase, for example), but keeping them in a safe place away from electrical equipment and magnets works just as well.

Be aware that in Europe most people use the “chip and pin” system for credit card transactions and in North America hardly anyone does (this is changing, however). So if travelling between these places look out for this difference (Google “chip and pin” to find out more).

Find out the procedures for replacing all of the above (cards and cheques), make a note of customer service numbers of banks and credit card issuers (on paper or electronically), save to your portable storage or send them to yourself (via email) as discussed in the ‘Security‘ section of this website.

Try to avoid paying bribes to officials when travelling, even if they ask for them (and it will happen in the developing world). It is usually illegal and you can get arrested for it. If you are certain that an offical is asking for a bribe (usually at checkpoints, when trying to get visas, etc.), you can either play dumb, pretend you don’t understand, act like you aren’t in a hurry, or ask for a receipt. If you do decide to pay, don’t refer to it as a bribe, rather as a ‘tax’ or ‘fee’, as in “Is there a smaller tax I can pay?”

Taking large amounts of your own currency for changing when you arrive is probably one of the worst options . . . → Read More: Taking Cash]]>

Taking large amounts of your own currency for changing when you arrive is probably one of the worst options for carrying money.

Your exchange rate will be retail, which is always going to be more expensive that wholesale.

Also, in most places, the person doing the exchanging will always want their little “cut” from the transaction.

Banks and hotels are the best places to change money but you can still get ripped off by the unscrupulous. Keep an eye on the daily rates to avoid this.

Remember, there may also be a fee for currency conversion so always ask about this before handing over your money.

Also, cash is the least secure way of carrying money, once it is lost or stolen that is usually it.



If you do bring cash from home, make sure any bills you bring are clean and brand new (you will have less trouble changing them).

Similarly, don’t accept torn or worn money in developing countries because you will have trouble getting rid of it.

And never exchange money with anyone you don’t know (people off the street, for example), even if they appear to be giving you a great rate.

The black market for foreign currencies in some countries is driven by restrictions on foreign currency ownership and artificially high exchange rates.

As well as being illegal in most countries, changing money on the street puts you at risk of getting counterfeit notes, being short-changed, or even robbed (handing over cash to people you meet on the street is never a good idea).

All that said, some people advise changing and bringing a little local currency with you, if only to avoid the possible hassle of doing it when you arrive at the airport and you need some loose change for buses or snacks.

However, foreign currency can be expensive to buy at home, and for the small amounts involved it usually isn’t much of of a problem to buy it when you arrive.

If you do get it at home, though, try to find a commission-free provider. In the UK this would be someone like Marks & Spencer, Lloyds TSB, the Post Office or Thomas Cook. But check exchange rates before choosing as they can vary somewhat between each of them.

Ultimately, when choosing between the methods above of getting to your money, remember that there are usually only a few percentage points difference between each of them. But it is worth knowing about them, nevertheless, so you can make an informed choice at the appropriate time.

Once upon a time, everyone who travelled carried traveller’s cheques, but not anymore. Nowadays, credit cards are the norm.

Not everywhere takes credit or debit cards so another option is to withdraw cash from a local ATM. This . . . → Read More: Getting Cash from ATMs]]>

Not everywhere takes credit or debit cards so another option is to withdraw cash from a local ATM. This has the same advantage as using a credit card, that of getting the wholesale exchange rate, plus the fact that you can get local currency from the machines.

Again, find out any daily /weekly/ monthly limits your bank imposes on transactions.

Disadvantages are, again, the fees charged. There is the usual currency exchange fee, plus a handling fee (a flat fee of a few dollars/pounds, or a percentage 2-4%, again, per transaction).

In addition, bear in mind that if you use your credit card for a cash advance from an ATM then interest will start to accrue immediately without a grace period (unlike purchases made with the credit card). And of course, with debit cards, there is no interest to accrue as the money comes straight out of your bank account.

For this reason a good rule of thumb would be to use your credit card for purchases and to use your atm/debit card for cash withdrawals (remembering that you also get purchase protection with the credit card).



Another thing to keep in mind is that PINs (Personal Identification Numbers) can work differently in different countries. Some countries use six digits but four is more common, so consider changing to a 4 digit PIN if you can.

Try to make sure that the first digit of your PIN is not a zero either, as this can sometimes cause problems. Conversely, if you do have a four digit PIN and the machine you are using asks for a six digit number, try entering two zeros at the start of the number then your PIN.

If you can, try to find and ATM which is part of the PLUS network (for VISA) or the Cirrus network (for MasterCard) withdrawals. These are interbank networks that allow your cards to work in the other bank’s ATM machines.

A Cirrus system card, for example, will currently work in over sixty countries, including about 10,000 machines in the U.K., 1000 in France, 1400 in Austria, 3000 in Turkey, 300 in Israel, 3600 in Mexico, 1800 in Australia, and 150 in Thailand.

The networks are designed to make available the same services that you get when you use your ATM at home, such as balance enquiries (and of course, cash withdrawals). There is no guarantee, however, that you won’t be charged yet another, additional fee to use the other bank’s ATM (as well as your own bank’s fees on top of this).

Even so, you will inevitably run into trouble using an ATM abroad, so to cover all eventualities, take a credit card, an ATM card, and a few hundred (or thousand) dollars/pounds in cash, as well as a small amount of local currency, and maybe even some traveller’s cheques.

If you are having trouble finding an ATM overseas you can find them using the Internet. Click here for the worldwide Mastercard ATM locator, and here for the worldwide VISA ATM locator.

Credit cards (and debit cards) are usually the preferred option for making purchases overseas because the currency conversion (the . . . → Read More: Using Credit Cards]]>

Credit cards (and debit cards) are usually the preferred option for making purchases overseas because the currency conversion (the actual exchange rate you see in the papers or on the news) is usually at the wholesale rate (or 1% over the commercial bank rate) and not at the retail rate you would pay for changing cash at the airport, hotel, or bank.

Not only this, using cards is just as secure abroad as when you are at home (for example, if used fraudulently). You also don’t have to carry cash around, taking it out and putting it back into your purse or bag each time, and you don’t have to worry about counting out or receiving the correct change.

Credit and debit cards are accepted almost everywhere in the developed world, and Visa tends to be accepted more than the others. Bear in mind, however, that the budget hotels, hostels and cafes used by budget travellers may not accept them.



If you do use them you can also postpone paying the bill (with a credit card) and take advantage of any differences in exchange rates between the purchase date and the money being converted (if you travel to countries with ever rising inflation).

Disadvantages of paying with a credit card include the fact that some card issuers (and this applies to debit cards too), will charge you a fee for foreign currency conversions, perhaps between 2 and 4%, usually 3% of the transaction amount.

Some debit card purchases attract an additional flat fee on top of this foreign exchange fee each time you use your debit card (check with the card issuer).

You can, however, find card issuers that charge very little or nothing at all. For example, check out Capital One in the US, or Nationwide, Lombard Direct and the Post Office in the UK.

You can compare UK card charges for overseas use here.

Remember to find out any daily /weekly/ monthly limits your bank imposes on transactions using your card.

Finally, don’t forget to inform your bank or other financial institution of your travel plans, where you are going and for how long, as automated fraud systems can sometimes block access to you funds at inopportune moments. If possible, give them a mobile phone number where they can contact you 24 hours a day and failing that, find out their customer service number (24 hour if possible), so you can call them if there are any problems.

There are a number of ways of carrying money, or at least getting access to it, as you travel.

If you need to buy gear, get it from the classifieds, craigslist, ebay, buy it used, or borrow it . . . → Read More: Tips for Saving Money]]>

If you need to buy gear, get it from the classifieds, craigslist, ebay, buy it used, or borrow it from friends.

Stay in hostels, rather than hotels. Stay in a tent, rather than a hostel.

Take a train instead of a plane. Walk or get the bus instead of taking a taxi. Hitchhike instead of taking a train or bus.

Don’t buy water, use a plastic bottle filled and topped up with tap water.

Don’t eat out in restaurants every day, especially in Europe. Supermarkets and bakeries are so much cheaper and the food is often better (than McDonalds, for sure).

You can cook for yourself in hostels, and, if camping, you can use a stove to make some great meals.

Whichever way you choose to finance your trip, how far your money goes will depend on which countries . . . → Read More: Budgeting]]>

Whichever way you choose to finance your trip, how far your money goes will depend on which countries you intend to visit, how (well) you intend to live, and the activities which you undertake whilst there.

If you are on a modest budget then don’t spend all your money on expensive gear. You will be constantly worrying about having it lost or stolen, and you probably won’t have enough left for food and accommodation. In many cases you can just take what your already have. See the ‘Packing’ section for hints on what to take and what to leave behind.

To make your money last longer you can (obviously) sleep and travel by the cheapest means possible, do lots of hiking, and limit yourself to free activities (for example, looking at the outside of famous buildings and monuments but not paying to go inside).

But bear in mind, if you do choose to live on a shoestring, you will always come across unexpected situations where you will want (or need) to pay for things.

For example, you would expect that something like the famous Meteor Crater, a 4,000 ft diameter hole in the middle of the Arizona desert, would be easily accessible for viewing (as it was in the movie ‘Starman’), and therefore, free.

However, when I arrived there I found it was completely fenced off and run as a privately owned and managed “attraction”, and inaccessible if you didn’t pay the $15 admission fee.

So keep a small emergency fund for these unknowns so you don’t miss out on things you always wanted to see, or return from your trip owing money.



Work out a rough budget for travel, accommodation and food. Include your air tickets, rail passes or tickets, local transportation, lodging, passports and visas, immunizations and health supplies, clothing, luggage, food, restaurant meals, tours and general daily expenses, by day and by country if you can.

Doing this should help you avoid the usual budget traveller’s mistake of spending a lot at the beginning of a trip, less in the middle, and next to nothing near the end.

However, avoid trying to live too cheaply all of the time as it is almost always a false economy. You may save money by staying in the the cheapest hotel and eating at the cheapest restaurant, but you may also end up living in the worst part of town in a terrible place, and you may get food poisoning or even mugged.

And hotels can be a lot cheaper than you think, especially if you book them at the last minute. I regularly use priceline.com to book hotels and I save up to 50% on regular room rates and have stayed in some very nice hotels for very little (sometimes for not much more than at a hostel).

In general, try to play it by ear and be a little flexible. Pay only a little extra and you might get great accommodation with nice views and excellent food.

After all, one of the best things about places like France, Spain and (more so nowadays), the UK, is that you can eat at some of the world’s finest restaurants.

Remember, this may be the only time you visit the places to which you are travelling, so don’t spoil it when a small amount of money could make a big difference.

It is actually possible to travel extensively without money, or at least, with very little.

Every year there are . . . → Read More: Financing Your Trip]]>

It is actually possible to travel extensively without money, or at least, with very little.

Every year there are a few people that start out on long trips with no money at all, whilst others do so with seemingly unlimited budgets. Most people fall somewhere between these two extremes.

How ever much you have, it has been said that is it better to travel with very little money than to not travel at all.

Plenty of travel websites and blogs exist on the Internet, many of them document the experiences of budget travellers. For example, this one, which makes fascinating reading (check out the FAQ section).

There are two things to think about where travel money is concerned, getting hold of some, and spending it wisely once you have it. Getting access to it while you are away is covered in the ‘Money’ section of this website under ‘Carrying‘, and keeping it safe is convered in the ‘Packing’ section under ‘ Security‘.

Saving, Working, Winging it

There are quite a few options for financing a trip. One is to work for a while in your home country, saving enough to cover all the foreseeable expenses and then taking a credit card as a back-up for the unforseeable ones.

Another option (and the one I usually choose), is to accumulate the bulk of your likely expenditure before you leave, but to supplement it by working whilst travelling.

Or you can take very little money and rely on the kindness of strangers you meet on the road. I once read of someone who started out with $400, travelled around the world for two years by hitchhiking, crossing oceans on freighters, and continents by jumping trains, sleeping rough or staying at people’s houses (people he met on the way), yet still returned with a couple of hundred dollars to spare.