Best Ways To Carry Money While Traveling

​I love helping people with all types of travel, but there are certain questions that are very common. One of them is "How much money should I take on my trip?"
This is one of those things that comes down to personal preference, but I definitely have some recommendations for you to consider. Based on my personal experience, the last thing you want to do is arrive in a foreign city without the cash you need. There could be many issues- banks are closed, your ATM card won't work, etc. Here are a few quick tips for using money internationally.

1. Tell your bank and credit card companies that you will be traveling out of the country. Without notifying them, you risk having your card declined. There is so much credit card fraud today, banks are being proactive to prevent fraudulent charges.
2. Bring only enough cash to pay for the trip from the airport, tips, and other minor expenses such as meals on your first day. If you bring a large amount of foreign currency with you, you risk having it lost or stolen. Money is easily accessible while traveling, and you shouldn't need more cash on hand than you would use for a day or two at a time.
3. Use ATMs to take out foreign currency while you're traveling. You will find that the rates are typically much better at an ATM rather than the currency exchange stations at the airport. Make sure that you check with your bank ahead of time and know which ATMs are the least expensive for you to use at your destination.
4. Use a credit card that doesn't have foreign transaction fees. Some banks charge international fees, while others offer bonus points for international travel - your best bet is to find out what the international rates are on each of your cards and choose the one with the best option. If you're looking to get a new credit card, definitely keep this in mind and consider getting a card with no international transaction fees.
5. Bring a backup, and a backup to your backup. It may sound crazy, but consider having three different types of payment options with you while you're traveling - perhaps cash and two different credit cards. If something happens, and a card gets lost or stolen, or stops working, you can always use one of your backup options so you don't find yourself in a financial emergency abroad.

Do you have a good tip of your own to share? If so, I'd love to hear from you!