Make your spending money go further when travelling abroad

Anyone with a trip on the horizon is likely to make a checklist of essentials to pack, but what about spending money? Holiday cash is often last on the list even though leaving it to the last minute can be a costly mistake. Not only could you miss out on a decent exchange rate, but taking only a little cash abroad may mean having to resort to a debit or credit card when funds dry up – with all the fees that entails.

Less cash to spend abroad due to exchange rates

Holidaymakers could be in for a shock when they realise their travel cash will not go as far as before. Last year, buying £200 of Euros meant getting €252 (in 2015 that was €274). But now it’s more likely you’ll receive €236 – that’s a loss of €38 compared to two years ago. While the dollar rate has risen slightly since the end of April, it’s still down on years gone by, as £200 will get you $259 now, instead of $288 a year ago and $308 two years ago.