Money Makes the World Go Round

No matter where you go in the world, you will need money. Some places are predominantly cash based and you will be hard pressed to be able to count on paying with a credit card. Other places encourage the use of credit. Ultimately you need to be ready for both. Here are some practices I have found useful.

Travel with 2 different credit cards from two different banks. Check your limits before you go to be sure they suit your needs. Also bring your debit card. Keep these three in three different locations. (2 on you and one at hotel) Always arrive in acountry with $50 cash in local currency. This requires some on the go planning but is a step not to skip. When you arrive late at night and the currency places are closed, it is dark and rainy and you are hungry, only local currency will get you food and a taxi ride to hotel. If you forget you will walk 10K in the middle of the night with no food in search of your hotel!

Shop around a bit for a good currency rate place. Remember that there are buy rates and sell rates. You need to look at the buy rates ( lower of the two) Also you need your passport to convert money, so plan to have it with you for that part of the day that you are on a currency run.

Pulling local currency from a bank ATM is best. Best rate, least fees. Pull your daily max. (500-700 CND) then stash most of that with passport and 1 card at hotel (use room safe). Put money for the day in deep front pocket with another card.

Have a third spot (secret hiding spot- I don’t want to know) but this spot should be close to you flesh and have your 3rd card and $100 USD in twenties) It is presumptuous but often true that USD is a currency understood in many places of the world.

By taking this approach you will reduce the impact of an unfortunate incident such as loss or theft. Having plans B and C are important when plan A fails.