Money - when do you get it?

[WaT05]

I was just wondering what do other people do about getting their foreign currency do you get it a bit at a time as you have spare money or do you wait until you have saved up all your spending money and then exchange it? I am not sure what is the best thing to do. I have never been abroad so it is a new experience for me. Also how do you divide your money for example if you have a £1000 spending money and a credit card would you get all travellers cheques or would you have part cash and part travellers cheques??

Any help would be appreciated
Thanks
Hazel

 

[Stella_the_Staff]

Hi Hazel
I got some of mine in April when the dollar rate was really good. Always best to check the rates & hold on to your money, unless you can't save money & spend it instead. Also get majority travellers cheques as if you lose them they are covered and will be replaced. Most shops take them and they give you the remainder from your purchases as cash.

 

[wicket2005]

I would buy when the exchange rate is good if you can.

We usually take about $100 in cash (to help with the toll roads), and then so much in travellor's cheques. We use the cheques to get cash but use the credit card as much as we can.

 

[wilma-bride]

We usually get our money just before we travel, usually because that's when we have saved what we need for spending money.

Last year we took $1800 (half cash and half TCs). This year we took $1200 dollars ($300 in cash and the rest TCs). The advice I would give is to get high denomination TCs ($50 or more). We had quite a lot of $20 TCs and they weren't really a lot of use as they didn't cover the cost of a meal alone and we didn't really use them for anything else.

If the rate gets better, I would recommend getting some money then, if you can. It is always worth buying when the rate is good as you will be unlikely to lose value on it then.