If you are going on holiday to Europe this summer, then a new set of tips from a leading foreign exchange provider will help you make some smart choices when using the Euro abroad. The Pound is currently struggling against the Euro and may cause problems for UK holiday makers, so the advice published by Travelex is designed to lessen the effects of the Euro rate rise.
Travelex’s analysis of currency trends show that the Pound is down against the Euro over 7 per cent year on year. This means that families on holiday in destinations such as Spain will find that their money may not stretch as far as it would have done previously. For example, a family of four buying £1000 worth of currency will only get 90 Euros less than last year.
In order to get more out of your travel money, Travelex suggest measures such buying your currency online, using both cash and cards when abroad and being aware of credit card charges for foreign use. They also advise researching your destination, so that you know about any tipping rules and bartering conventions the country might have in advance. Methods of getting more cash while on holiday like exchanging currency in hotels are not recommended due to the high cost. Most of all, establishing a budget and sticking to it is recommended.
“This year’s Brits need to make sure that they are making every penny count. It’s unrealistic to think that the rate is going to drive significant numbers away from travelling to the Eurozone, but when it comes to going away, those who do a little research and follow our simple tips, will be able to negate some of the impact on their holiday budget,” says Travelex’s Peter Davies.
