Budget Tips for Your Holidays Abroad

No matter if you are a football fan travelling to see EURO 2012 matches or planning your holidays abroad, you can save hundreds of pounds by observing the following golden rules.

These rules will help you to avoid paying unnecessary fees which can often multiply your expenses while on holidays abroad.

5 Golden Rules You Should Follow

When planning your holidays it is not only a good advice to shop around to get the most favourable deals, it is also highly advisable to keep the following essential golden rules in mind. Enjoy the extra money you can save on fees!

1st rule – use a specialist travel credit card for paying abroad

A specialist travel credit card will help you avoid paying extra 3% added to the exchange rates charged by the majority of banks. In this way you can get the most competitive rate on the market which would not offer even the best bureau de exchange. However, make you sure you pay the card in full in order to avoid the interests.

2nd rule – do not change money at the airport

Avoid changing money at the airport as they usually offer the worst rates. If you really must get it from the airport, call there in advance and pre-order the pick-up. The pre-order is usually possible up to 4 hours beforehand and gets you a better rate.

3rd rule – do not use your debit card

In the majority of cases debit cards may charge up to £1.50 every time you spend on them abroad. That can lead to multiplying your expenses which you really do not need.

Owners of the following debit cards should not spend on them abroad – Lloyds TSB, Halifax, RBS, Intelligent Finance, Santander and NatWest.

4th rule – pounds or euros?

If you are paying on a credit or debit card you might be offered the possibility to pay in pounds. Reject this offer as quickly as possible as this is called a dynamic currency exchange. What that means is the retailer himself will do the conversion, usually at a worse rate than your debit card would charge you.

5th rule – withdrawal fee

The last golden rule to follow says that you should be careful how you pay for foreign cash at bureau de exchange. All credit cards and some debit cards (including Barclays, Lloyds TSB, NatWest, Santander and RBS) charge a cash withdrawal fee. You can easily avoid paying the fee by using a different card or paying in cash instead.

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