Skip to main content

Tips To Make Money Last Longer During an International Trip


If you are headed to foreign city, whether on a holiday or work, you are making your budget plans, and doing some number crunching, for sure. You are sure to be calculating your expenses for the trip, and wondering how much money to carry. Have you considered forex money exchange options? A multi currency forex card can be a great option to help you stay within your budget and work out your expenditure. If you have a forex card you may not have to look for money exchange locations as often as when you carry currency from your home country.
  • Budgeting is the first step toward making your money last longer. It also helps you understand what to prioritise and what not to, depending on your interests. You get an opportunity to focus on what you really want to do, and allocate funds for the same, and cut down on unnecessary expenditure.
  • Once you have charted out your budget plans, you should decide how much cash you are going to carry. You may lose track of your budget if you keep doling out cash. There are also limits on how much forex money exchange you can carry. You would need a combination of foreign exchange and other options like a multi currency forex card. So, head to one of the money exchange locations and keep some currency handy, but also make sure you spend currency only where necessary. Ensure that you use your forex card for all the big purchases. It is safer, easier and more convenient than all other options. Typically, the ratio of cash and forex card should be 20:80.
  • If you are looking at money exchange locations for your currency exchange needs, travel experts suggest that you avoid exchange kiosks in the airport, as they add extra fees or commissions that can be avoided if you get your forex from elsewhere. A government bank or a national post office is a good option to get foreign exchange at better rates than private banks. Avoid getting your foreign exchange in local markets or other tourist spots while abroad.
  •  
If you want to know other tips on How To Make Your Money Last Longer During an International Trip?, visit source blog.



Comments

Popular posts from this blog

How Currency Swings Can Affect Your Holiday Costs?

Rise and fall, variation or shift in the floating exchange rate system is a norm in the case of most major economies. The currency’s value goes hand in hand in accordance with the foreign-exchange market. International money exchange rates are affected by numerous factors that are usually in a state of perpetual flux. These include interest rate differentials, economic performance, supply and demand of the two currencies, and inflation. If you run a travel business, you’ll directly be impacted by fluctuating currency rates. The relative strength, or lack thereof, of the dollar against other major currencies will dictate your business traffic. Travel Trends: A Lot of people travel for leisure than for business. Travel, just like any other activity, experiences trends that tend to develop based on various forces. Unsurprisingly, trends can be set by the media. Specifically, travel media may establish some trends based on tourism surveys and other professional r...

Benefits of Using a Travel Money Card Over Using Your Own Credit Card

Planning to travel overseas, and wondering what’s a better option, your credit card or a travel money card? You don’t have to keep rushing to money exchange locations for every transaction when you are abroad; instead carry a multi-currency forex card, especially if you are travelling to multiple countries, within Europe, for example. The options are plenty; you could carry a HDFC bank forex card, an ICICI bank forex card or an Axis bank multi-currency card. You don’t have to constantly worry about money exchange , and instead carry a small amount of foreign exchange from India. Read on for more on the benefits of using a travel money card over your credit card. One of the biggest benefits is that by getting a forex/travel card you are safe from the fluctuations in the currency value; the value of currency you are loading on that specific day will remain the same throughout your trip. This means you don’t have to constantly fret over changing...

Rbi Guidelines for Foreign Exchange

People travel all around the world and when they land up in a foreign country they require that particular country’s currency in order to buy goods and services. Here foreign exchange comes into the picture, which helps you in exchanging the currency of one country into that of another. The largest and the most liquid financial market in the world is the foreign exchange. Here are some international currency exchange guidelines that are to be followed in India. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per traveller in a single financial year. Out of that, only $3000 can be carried as cash. The remaining balance should be carried around as traveller’s cheques, forex cards and remittances. But when on a trip to Nepal or Bhutan for any purpose, no forex currency exchange will be available. When going on a leisure trip abroad, the maximum amount of foreign currency that can be taken is USD 25,00,00 per t...