Travel Funds: Comparing Your Best Options

Are you planning a trip abroad? Travel is back, and while not quite in full swing, there are many places you can go and have a “normal” experience.

Airports and airlines are as busy as ever, and tourist destinations are slowly filling back up.

But if you’re new to international travel, it pays to understand how spending money works abroad. There are a few different ways you can carry and spend your travel funds once at your destination, each with its pros and cons.

Wonder what the best and safest way to carry your money for traveling is? Read on below for some travel money tips and suggestions.

US Dollars

In the past, traveling abroad meant always carrying cash. But today, you can visit many countries and complete almost all of your purchases without needing cash, as credit card acceptance continues to grow, even in developing nations.

But still, it’s always a good idea to have some cash on you. And since US dollars are the most valuable in many nations, and the easiest to convert to other currencies, you’ll want some in your wallet.

Travel experts recommend getting some freshly minted $20 and $100 bills, in the event you need to pay your way out of any trouble.

Local Currency

Of course, if you’re going to need cash for any of your purchases, such as taxi rides, food from small vendors, or to pay individuals, it’s best to deal in the local currency.

Upon arrival, swap some of your funds for the local currency. Keep it in a secure place, such as a hidden wallet, as opposed to a wallet in your pocket, since pickpocketing is common in many tourist destinations.

Travel Credit Cards

Looking for the best travel fund ideas? A travel-specific credit card is the best option, not only before taking a trip but while you’re on a trip.

The best credit card for travel will provide you with sign-up bonuses in the form of travel points or miles, which you can redeem for free airfare or hotel stays. But they will also waive foreign transaction fees while traveling.

So you can make a purchase in France, Morocco, or Japan, paying with your American credit card, and not experiencing any additional fees. It’s the easiest and most secure way to handle money abroad.

Prepaid Travel Money Card

Not a fan of credit cards, and the risk of overspending and going into debt? Then you can enjoy the convenience of credit card-like purchases, with a prepaid travel card instead.

The best prepaid money cards for travel make it simple to add funds from your bank account and spend it securely while you travel, ensuring you don’t spend money that you cannot afford to spend.

Safe, Secure, and Convenient Travel Funds

When traveling, it’s always best to have a few different types of travel funds with you, just to be safe. Most experienced travelers do almost everything they can with a travel credit card, to avoid fees and earn points and miles.

But it’s always a good idea to carry some local cash and some USD as a backup.

Looking for more travel advice like this? Head over to our blog now to keep reading.