Newlybroad: Money Tips for Traveling

My husband deals with currencies all day long, so to say that the exchange rates offered sometimes hit him personally isn't even scratching the surface. Every time we walk by an exchange counter, he stops and goes, "Ughh, that's a terrible spread!"

My first thought: "Wait, there's no butter or jam over there." ...Just kidding : ) I do realize that was a very bad joke!

But now that we are traveling so much, we are constantly exposed to different currencies. Aaron's taught me a few little tips and tricks to make sure I'm getting the best possible rate, so I thought I'd let you all in on my secrets.

Plus these are just good general things to know before traveling!

• As you've probably been told before, call banks and credit card companies to tell them you will be abroad but also find out if they charge an international fee: this add on charge can sometimes rack up the costs on your trip abroad if you aren't aware there is one.
  
• Get a credit card with a chip (and if possible a PIN number): nobody wants your autograph over here anymore. Signatures and swipes are a thing of the past. Too time consuming, unsafe and hard to keep track of. Enter the 4 digit PIN number you type in similar to withdrawing cash at an ATM. It is hard to find a merchant that will accept a swipe card in Europe (possible but definitely makes things difficult).
  
• Never exchange money. Period. No matter where you go, the rate will always be stomach-sickening terrible. Airports are the worst.
  
• Instead, take out cash at an ATM. Always accept your bank's rate and not the ATM's. Your bank will give you the exchange rate, which although won't be true to the daily rate, will be a much better deal since you are their customer.
  
• Or exchange money with a friend. Visiting someone abroad? Ask if they have any reason for your local currency. Bank transfers, deposits and apps like Venmo make moving cash easy.
  
• If a merchant asks if you'd like to be charged in your country's currency or the local currency, always choose the local currency. Again, this way your bank decides the rate which will be better than anything the merchant or their machine provider will give you.
  
• Look ahead of time to find out tipping customs. Often times, a good tip in another country is much lower than in the US and tipping is customary for different services.

Now look at you, you currency pro!