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What is the best way to handle and manage my money?

Travel Forums General Talk What is the best way to handle and manage my money?

1. Posted by samot (Budding Member 35 posts) 9y

I got a couple place i want to visit this summer and fall and i'm not sure on how to handle money situation.

The first trip will be to the jakera camp for 3 month, then, if i can arrange it, a motorcycle trip through the andes. From there hike the Inka Trail, see Machu Picchu, then depending on the cost go further south and maybe catch a boat or plane over to Easter Island.

The other places will also be all over the place, and i'm i already know what the plane tickets will cost me.

I don't have a problem paying for it, and the stuff i can pay for ahead of time i will take care off before i leave. My concern is with the money i carry on me. I don't want to walk around with a large amount of cash here in Tampa, much less anywhere else in the world i've never been to.

I thought about credit cards, i guess i could get one or two that have a lower limit so i don't run the risk of losing everything if it gets lost or stolen. My current card does charge me a fee for foreign transaction fee of 2%, considering i will spend more then 10k, thats $200 just in foreign transaction fees. Thats almost a week at the jakera camp.

I don't think my ATM card will work anywhere but in the states. I'm currently with a Credit Union, should i open an account with a larger, national bank? (Nations Bank maybe)

What tips do you guys have in that regard?

Thank you,

2. Posted by bentivogli (Travel Guru 2398 posts) 9y

1) Whatever you do, don't take more cash than absolutely necessary. Carrying hard currency puts your own safety at risk

2) CCs are a pretty safe alternative, I think, as long as you can prove not having authorised transactions (which means, reporting to the local police as soon as you notice your CC has been stolen)

3) Your bank cannot provide you with an international ATM or debit card? Sounds a bit strange to me; at any rate, this would be MY preferred mode of carrying cash

4) If all else seems unattractive to you, consider carrying TCs. Though not much use in South America, it may be easier to cash them in Asia, and they come with insurance.

With all 'plastic' money, it is sensible to open up a travel account, in which you have someone trustworthy at home put small sums from your regular account (the card of which you don't take with you).

3. Posted by samot (Budding Member 35 posts) 9y

This thread went missing for a while, i started a new one.