Money Travel Tips to Remember, Part 1

No matter where you go, the costs of a vacation can add up. Whether you’re someone who’s good at budgeting or someone who’s not, there are always money tips that you should remember when you travel. In part 1 of this blog, our Newark Airport parking company shares some important advice for your next trip:

Alert your credit card company

If you’re going to be traveling out of the country (or even traveling across the country), it’s a good idea to let your credit card company know your plans. If you don’t, they could put a freeze on your card thinking someone stole it and is using it elsewhere. Before you leave, be sure to inform them of where you’re going and your travel dates.

Split up your money

Most hotels have an in-room safe, so after you check in and get situated, split up your money and put some of it in the safe. The rest you can take with you wherever you go. This way, if you get mugged while you’re out and about, you’ll have a back-up supply to get you through the rest (or at least some) of your trip.

Another good idea is to split up the money that you’re carrying with you. For instance, if you have most of your money in your wallet or purse, stash some in your sock or pants pocket. This way, if someone takes your wallet or purse, you’ll still have some money with you.

Make currency exchanges at a bank

If your next trip is to a foreign country that doesn’t take the American dollar, you’ll need to exchange some money in order to pay for your expenses. Do yourself a favor and exchange it at a bank or credit union instead of an airport kiosk or through an online delivery service. You’ll still pay a fee at the bank, but it’ll likely be much less than the fee you’d pay elsewhere.

Do your research on tipping

While it’s common to tip waiters/waitresses, concierges, cab drivers, and even coffee baristas in America, tipping isn’t always a normal custom in other countries. If you’re traveling abroad, do some research on tipping, including how much is expected (if anything). It will save you the trouble of under-tipping, over-tipping, or even offending service individuals in some cultures.

Remember to budget for souvenirs

Souvenirs are always a great way to remember your trip, but many travelers often forget about the cost of them. When you budget out the money for your expenses, don’t forget to set aside some for your souvenirs so you’re not stretching your funds.

Don’t forget about foreign transaction fees

These days, using credit cards is much easier than carrying around cash, however, many credit cards come equipped with foreign transaction fees. This means if you use the card overseas at an ATM or for a purchase, you could be hit with a fee each time you use it. Before you go, look into the credit cards you use and if they have foreign transaction fees. If they do, you may be better off using cash or at least choosing the one with the lowest fee percentage.