The last thing you’d like to do after a restful Latin American vacation is to feel your veins throbbing your forehead as you read your statement from the bank.
The hidden costs of travel and expenses are all around ready to hit you with a slap with a slap, but with a small amount of planning, you’ll be able to take a breath of relief when you look up the balance of your account after a vacation.
Here are seven simple ways to apply money-saving strategies which will make you money on your next trip.
1.) Examine whether your bank is being sly and then prepare your credit card for use in other countries.
Before you leave, you must verify with your credit card or Bank Company to see if they charge any handling fees. To avoid wasting time and possibly the emptying of your account, take notes of the validity and number of your credit cards. Include the contact numbers to contact them in the event of their loss or stolen.
Some banks, in the event that they observe an unusual spending pattern, may believe the card was stolen and close the account. Barclays within the UK has extremely strict controls on its credit cards for instance (Barclays customers, beware!). Before you leave, inform your bank that you plan to use your credit card in foreign countries (and the countries you intend to use it in).
After returning to Latin America, check your account to ensure that all transactions are valid.
2.) Credit and debit cards are your best friends in plastic
Credit cards are by far the most reliable option for spending money in foreign countries. They are accepted by a wide range of establishments for payment in hotels restaurant, shops, souvenirs and shops, as well as to get cash advances. You can withdraw cash from the rapidly growing collection of ATM machines throughout Latin America that make it very simple to withdraw cash from local currency.
For the most widely used for cash and purchase advances, Visa is the best choice closely to MasterCard. American Express is not as widely accepted, but is still an alternative.
3.) Make sure you have the correct balance of the local currency against US dollars
Do not buy or purchase any Latin American currency before travelling. The currency you can purchase at foreign outlet stores or High Street banks usually has an extremely low exchange rate. These outlets or banks are also unlikely to be keen to purchase or selling any Latin American currency back when you return.
The reality is that in Latin America, small denominations of US dollars are typically just as widely accepted as local currency. Therefore, keep a small stack of bills for backup.
To ensure you are not scammed by your exchange rates, search your Internet for the most current information on exchange rates. You can also write down what you will get back in the currency of the new one when you transfer your cash.
4) Travelers Checks? Nope.
Checks for travel are becoming less popular with travelers who feel they are difficult in comparison to credit cards. Checks issued by travelers are becoming difficult to cash and charges are rising. There are plenty of options available, so if need to be savvy about your cash it is probably not the right choice.
5) Eat, rest and then Vacation locally
While prices for living expenses within Latin America differs enormously between countries, and it can vary dramatically in a short period of time within a single area or country tourism-related services (e.g. restaurants and hotels) are more costly.
The cost of meals at restaurants for meals in Latin America varies as much as it is in Europe. At the bottom of the scale, low-cost food that is filling and usually not too clean meals are available at markets, usually for a few dollars. It is generally the best source for regional cuisine However; you should take note of the possibility for stomach upsets. Contemporary snack bar, typically that are fast-food are more secure and more affordable, even if they’re not very inspiring. If you’re looking for something more expensive there are eateries that have nice decor, uniformed waiters and menus with local and international dishes however, you’ll have to pay for it accordingly. Request your tour guide for their recommendations.
6.) Vacation is a small amount is a lot (but sometimes, it’s too much)
It’s difficult to offer specific guidelines for the amount to be paid by an individual who provides services across Latin America, as the costs of living vary between countries. It is, however, extremely uncomfortable to be in situations where you are required or shouldn’t tip particularly since it’s the main source of income in certain job. However, you shouldn’t get sucked into a scam by a conniving local. There’s nothing worse than being taken advantage of.
Take note of suggestions on the proper way to tip at the area you are visiting your travel agent tour operator or guidebook can provide guidelines for situations where tips are expected and the amount.
No matter what the amount or situation is aware that you should have small-denomination currency that is local in currency. It’s unlikely that you’ll get change by tipping a huge note or foreign currency, so it won’t provide much value to the vast majority of people.
7.) Bargaining – take on your competition for a discount
Bargaining is commonplace for most indoor and street markets, but no exact generalization is possible about the extent to which prices can be reduced. Get rid of any skepticism you have concerning a price dispute, and let the negotiations begin!
Tourists typically be charged more than the locals. In Peru the price typically is more than what the seller is willing to pay. In contrast, vendors like the Octavio Indians in Ecuador and street vendors in Bolivia seldom lower their prices at more than 10 percent. In Guatemala there are some vendors who lower the price by 30 percent while others will not even reduce their prices at all.
Many street vendors are incredibly poor, so keep this in mind when trying to reduce the prices.
Do you have any tips to save money while traveling across Latin America? Do you recall the time you spent way over your budget or you stayed away from spending any money?