Don’t Miss These Important Money Tips for Travelers
money tips for travelers

You might want to consider these important money tips for travelers before heading out that door!

Great news! The American dollar is currently worth more abroad than in nearly a decade… Here are some important money tips for travelers that will help stretch that buck even further…

Cash vs. Plastic
money tips for travelers

First things first: Cash or plastic? Your best bet is both. In today’s modern world, you can use credit or debit cards for almost anything, but for street vendors, taxis, and public transit you’ll likely need the paper stuff.

Three Things to Have in Your Wallet:
money tips for travelers

1. A Charles Schwab Debit Card

Access to cash is key, and by opening a Charles Schwab checking account, you’ll pay no ATM fees anywhere in the world. You’ll be issued a Visa debit card with chip technology for fraud protection and increased usability. There’s no minimum balance, and the great smartphone/iPhone app allows you to transfer money, check balances and withdrawals, and keep track of ATM rebates from anywhere in the world. Charles Schwab is currently offering $100 to new clients that have been referred by account holders. Just comment below, and we’ll have them send you the link!

2. A Credit Card with “No Foreign Transaction Fees”

money tips for travelers

You’ll typically use this card for almost everything: shopping, restaurants, transportation, reservations, etc. It guarantees the best daily exchange rate, and you’ll avoid paying normal foreign transaction fees of 1% to 3% on all your purchases. And by using a credit card, you’re keeping your cash flow available for when it’s needed most.

Check with your current credit card provider and see if they charge foreign transaction fees. If they do, use this opportunity to shop for a new card that’s offering free airline miles for signing up! Our favorite sites are Million Mile Secrets and The Point Guy. You might want check out our secrets to flying free, here.

3. Local Currency

money tips for travelers

Although your credit cards can be used for almost everything, it’s wise to keep some of that paper money on hand as well… Since most transportation options from the airport, train or bus station will require cash, go straight to the ATM and use your Charles Schwab card. Again, you’ll get the best exchange rate, and avoid the awkward surprise when arriving in your destination with a taxi driver that only accepts cash.

Another thing to note: Although you can use US dollars in some countries, you’ll typically be given an awful exchange rate, so get that local money!

More Money Tips for Travelers
money tips for travelers

VAT Refunds in Europe

VAT, or Value-Added Tax is added to most goods when shopping in the European Union, and varies from 8%-27%, depending on the country. Although you’re required to pay the taxes upfront, many shops will include paperwork needed for a refund with your receipt. Save these documents and apply for your refund at the airport before leaving the EU.

Tipping

money tips for travelers

In America, we accept tipping for good service as a part of daily life, but in many countries, it is neither customary nor expected. Before adding twenty percent to that bill, check this guide for tip customs in the country you’re visiting.

Currency Conversion

money tips for travelers

Making sure that you’re always paying a fair conversion rate can be stressful, especially when traveling to multiple countries with varying currencies… We love the Units Plus Converter, a free app that updates to the correct conversion rates daily.

Travel Insurance

Traveling abroad is exciting and safe, but you never known when some good travel insurance could come in handy. World Nomads offers the best coverage in the business, is affordable, and is quick to act should something go wrong. For more info, check out our recent on World Nomads blog post.

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65 Responses to “Don’t Miss These Important Money Tips for Travelers”

  1. Marc d'Entremont

    Since I travel for a living I have everything you provide as tips so your advice is right on!!

    Reply
  2. Lisa

    Good tips! Would love to get more info on the Charles Schwab offer. Thanks!

    Reply
    • Josh Sedivy

      Thank you! We hope our tips are helpful for you. You’ll get an email from Schwab shortly about their $100 referral deal. πŸ™‚

      Reply
  3. Nidhi Tandon

    Thanks for the tips! Would also love to get more information on the Schwab account!

    Reply
  4. Andrew Shuttleton

    Hey! Can you still refer me for the Charles S debit card please? Or have they finished that deal?

    Loving the advice and time you spend helping everyone who loves travelling.

    Andrew

    Reply
  5. Joanne Popovich

    I just started following your blog and really enjoying the content, especially with an upcoming trip to England and Scotland. Can you send me information re: the Schwab card? Thank you and happy trails! Joanne

    Reply
    • Josh Sedivy

      Hi Joanne, we’re so glad you’re enjoying our blog! We love Scotland and England! Feel free to ask if you need any tips or advice. In the meantime, you should receive an email from Schwab, shortly.

      Reply
  6. Kelley

    Love the blog, as always! These money tips are everything I have done traveling to save some $$ too….except the Schwab card. Can you help me find out more about it? Seems like a great way to avoid fees and stay on top of your cash.

    Reply
  7. AlicevstheWorld

    This is all handy info, thanks for sharing!

    Reply
  8. Shallanda

    Thanks so much for sharing such helpful info.
    May I also request info re. Schwab card?

    Reply
  9. Dan Brook

    Also check out my

    21 Ways To Pay For Your Study Abroad Adventure

    https://www.theodysseyonline.com/best-ways-earn-funds-traveling

    Reply
  10. Elycia

    Love your tips! Please send me link to Charles Schwab

    Reply
  11. Sean Brennan

    I’d like the Charles scwab referral code please

    Reply
  12. Julie

    Thanks for the info this is great, would love the link to the Charles Schwab card.

    Reply
  13. Kara

    Hi, may I have the Charles Schwab offer too? Do u think they can get me the actual card in less than two weeks too? Thx

    Reply
    • Josh Sedivy

      Sure! They’ll be sending an invite shortly. I think two weeks was about the timeframe we got ours, so hopefully! πŸ™‚

      Reply
  14. Amber

    Wow, this is an amazing article and I am so glad I found it! β™₯

    Reply
  15. Elizabeth

    Thanks for the great article; I’m planning to travel to Europe for the first time this summer and can’t wait, so I’m spending the waiting time on research . Please send info. for the Charles Schwab account!

    Reply
    • Josh Sedivy

      Fantastic! I’ll have Schwab send you the invite. So, where are you off to in Europe?

      Reply
      • Elizabeth

        Well, my friend who’s going with me was saying only one week, but that just won’t work lol. Since time is apperantly short, the #1 must is London, but because plane tickets are cheaper to get to and from Dublin, then I think we start there and make our way to London and then back to Dublin (minimum 2 weeks πŸ˜‰ ).

        Reply
  16. Elizabeth

    Hey, I asked for the Carles Schwab info about a week ago but never got the email, and it’s not in my spam folder either. Could you try to send it again please?

    Reply
  17. David Blinn

    Looking for the Charles Schwab link to sign up new customers.

    Reply
  18. Carey

    Great travel tips! Thanks! Would love the Charles Schwab link…will be traveling in the UK and Europe this summer!

    Reply
  19. Mori Bea

    hey! I found you all on twitter, and I love these tips!! they’re ones I’ve never seen online before, like tipping in other countries and travel insurance links…beautiful.

    and that charles schwab tip…? I’d love that referral πŸ˜€

    Reply
  20. Erin Kincaid

    Going to share this post! Awesome information for travelers! Please send the Schwab link too & thanks so much!
    Happy Traveling!
    #thetravellingwriter

    Reply
  21. Jennifer Vinson

    Interested in more info about the CS card. Thanks!

    Reply
  22. efi.mk

    Great tips! They are not tips you usually see in other bloggers posts ! πŸ˜‰

    Reply
  23. Gloria Jorgenson

    Good info as we’re gearing up for a U.K. trip! Would like the Charles Schwab info!

    Reply
  24. Rodrigo

    Ok, now I have the urge to grab a bag and just go!! Haha great tips!

    Reply
  25. Best Journey Point

    Hello travelers! Nice tips for saving money, huh?! Here is one more tip! Search for the best deals and compare the top travel sites at https://www.bestjourneypoint.com
    Keep saving money and traveling more!

    Reply
  26. Melissa

    Great tips! I’d love that Charles Schwab info!

    Reply
  27. Chevy Panlilio

    Awesome info! Interested in that Charles Schwab referral.

    Reply
  28. Bob Linsey

    Hello Neighbors (occasionally)!

    Just sitting here enjoying the Washington Avenue scenery. While retired now, I doubt I’ll ever catch up with an itinerary like yours. I’ve got a couple of missions however. Have been to each of the Lower 48 and Quebec to British Columbia and everything in-between. Have you guys got the Maritimes (Nova Scotia, New Brunswick and Newfoundland) on your agenda. Alaska or the Yukon? Wondering if anything in Labrador or the NW Territories is worth a visit?

    Would love the link to the Charles Schwab card. Can you use other bank’s ATMs stateside as well?

    Safe travels! Bob Linsey

    Reply
    • Josh Sedivy

      Hi there Bob, great to hear from you!! πŸ™‚ When it comes to the Americas we still have much to see. As they say, “We haven’t been everywhere, but it’s on the list!” We have not made it to the Maritimes, Alaska, or the Yukon, but hope to someday! Please keep us posted on how your travels go, and in the meantime, the Schwab card will save you from those pesky ATM fees, both internationally and at home. You should receive an email from them shortly. Josh and Krissy

      Reply
  29. Mary Kay

    Interested in Charles Schwab checking account with no ATM fees worldwide!

    Reply
  30. Swapna R

    Great article and helpful tips. Would like a Charles Shwab referral if still possible please. Happy and safe travels!

    Reply
  31. Samantha

    Great post. I was glad to see that we do quite a few of these on your list but we don’t have a Charles Schwab card. Please send me the link for the $100 if it is still applicable. Thanks again for a great post. Happy travels!

    Reply
  32. Sheryl

    Is the Charles Schwab offer still available, as I would love that link? I am going to go travel around Europe for about 6-9 months and need to save money however I can.

    Thanks

    Reply
  33. Sandy

    Hi Josh
    Am interested in the Charles Schwab card. Is the deal still good. Are there other fees with the card we should be aware of? Traveling to Iceland in January!
    Thanks!! Sandy

    Reply
    • Josh Sedivy

      Nope, the card is great, specifically for the reason that there are no fees. You should receive an email from Schwab, shortly. Have a ball in Iceland!! πŸ™‚

      Reply
  34. Deirdre Michalski

    Great information here thank you! Pls. Send the Charles Schwab CC info. If still available. Be safe traveling!

    Reply

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