Travel Hacks Series - Money

Ahoy, travellers,

Our next post is about travel money where I share some ideas on what and how I use when on holidays. The key principle I have is a backup, for a backup and then another backup when it comes to money, let me explain.

Having access to money when you travel is essential, and if something happens where you can’t access that money has the potential to ruin your entire trip. Unlike losing your suitcase or backpack where you can typically go and buy a new one, admittedly with some inconvenience. When you can’t access your money, you’re usually in a real jam. So, this is why I have back-ups and separate out our money into buckets.

These buckets are Spending Money Card, Spending Money Card Backup, Spending Money Cash and Accommodation Money Card. Yes, I know what you’re thinking, this sounds way over the top but hear me out.

Spending Money Card

This card does what it says on the tin, we use it for everyday spending while travelling. We have used different types of travel cards over the past 10+ years, however we have used the Wise Money Travel Card and it’s honestly amazing. It’s a Visa Debit Card, however the app and features are where it sets it apart. You can load circa 50 different types of currencies onto the card, however you can just have Australian dollars and when you’re overseas, Wise will automatically convert the transaction from Australia dollars to whatever currency your purchase is in. For example, from Australian Dollars to Canadian Dollars (AUD to CAD), but also convert it, but also typically in a more competitive exchange rate. The next few things I really like about the Wise app is the ability to add notes and upload files for each transaction, which is handy to track your spending. There are also features where you can set the exchange rate for conversion and have your own international bank account, for example, a European bank account makes it a lot easier to receive euro’s from family and friends. Finally, another handy feature besides adding your physical card to your digital wallet, you can also create a separate virtual card.

Spending Money Card Backup

So, what happens if you lose your physical card? You can still use your card in your digital wallet, however, sometimes physical cards are still needed to purchase or use at ATMs. This is why I have another Wise Money Card as a backup, it will need to be in your travel companion name, but we have it in a just-in-case scenario as it’s practically instant to transfer money from one Wise account to another.

Spending Money Cash

Hopefully, it is relatively self-explanatory. We always take circa $500 in the local currency in smaller denominations before we travel, so if we need cash as soon as we get there, we have it.

Accommodation Money Card

When staying at hotels, we’re often asked to pay a security deposit or the outstanding balance on arrival or departure. If the card is compromised at the hotel, then accessing your spending money can be challenging, this is why we have a separate card.

Final thoughts

I understand the above might seem over-the-top for some, however for us we will do whatever we can to ensure we have a stress-free holiday and create new memories, and when using the above process, it helps us manage unplanned issues.