Money Mistakes People Make When Traveling Abroad
HuffPost
When it comes to international travel, these small errors can be costly.
International travel can bring a host of logistical challenges to navigate. In the process of enjoying a trip abroad, tourists tend to make a few mistakes, especially when it comes to money.
From ATM transactions to currency misunderstandings, the opportunities for financial missteps are numerous. With that in mind, we asked personal finance experts to share the money mistakes people commonly make while traveling abroad ― and their advice for avoiding these errors.
Paying foreign transaction fees on your credit card.
“One mistake is paying foreign transaction fees when using a credit card, which is around 3% of each transaction, and that can add up,” said consumer finance and budgeting expert Andrea Woroch. “If you travel abroad often, it’s a good idea to get a credit card that has no foreign transaction fees.”
If you’re unsure about your card, check with your bank ahead of your trip to avoid paying transaction fees. Compare alternative options as well.