It can be very challenging when you take a cheap vacation to a foreign country. Two of the most challenging aspects typically are dealing with a foreign language and getting used to a new currency.

As for the language thing, it’s a great idea to learn some key phrases before you go. As for currency, we hope that these few tips will help you be prepared to deal with foreign currency the next time you are traveling abroad.

• Before you leave for your trip, print off a conversion chart showing different amounts of the foreign currency and what they equal in your native currency. For example, 100 pesos equals approx. $9.30 US, 250 pesos equals approx. $23.25 US and 500 pesos equals approx. $46.50. By having a chart easily accessible to you, you will quickly be able to figure out how much things cost and you won’t overspend!
• Consider using credit cards instead of cash. Credit cards are very convenient and you will find they are accepted in most locales throughout the world. They are very convenient with their buy now, pay later benefits. However, it is important to note that you will pay a higher rate of exchange than if exchanged US currency into the foreign currency.
• Another idea is to bring the equivalent of a few hundred dollars with you to cover you for the first few days of your vacation. After that, use ATMs for the remainder of your foreign currency. Check with your bank before leaving to see what your fees will be for withdrawing from foreign ATMs.
• If you will be traveling to many foreign countries during your travels, you may want to invest in a pocket sized electronic currency converter. Having an idea of the exchange rates in all the countries you are visiting will really help you make better decisions when purchasing services and goods from local vendors. You can usually pick up a good model for under $100.
• Due to high rates of counterfeiting, Travelers Checks aren’t as widely accepted as they once were. You do get piece of mind in that they are replaced if lost or stolen, but we have found that they can be difficult to cash in some countries.
• Another important consideration is how much currency you will need. In some countries, it can be difficult, if not impossible to change the currency back into U.S. funds. This isn’t a big deal if you are only left with a few dollars at the end of your trip, but it can be concerning if you have 20,000 Russian Rubles left. So, budget carefully and take out money as you travel.

Your best bet is to do some research on the foreign currency before you leave and try to ascertain a reasonable expectation as to how much money you will need. Being prepared before your take your cheap vacation can help you save money and avoid spending more than you need to!