It can be intimidating for the first time traveler abroad to think about exchange rates. How do you make sure you are not overspending? How do you make sure that you are getting the most for your money? You do not want to spend money naively and then return home to see a bank account depleted twice as much as you thought. The way to get around the financial stress of traveling is to master the exchange rates. This simple guide will inform you about handling your money wisely when traveling abroad.
Most people have trouble doing math in their heads, so it is no surprise that many bad financial decisions are made quickly abroad. Memorize the exchange rates before you travel to a foreign country, and practice converting foreign prices into domestic money. For instance, if you travel to London and the pound is worth more than the American dollar, then you need to be very attentive to overspending. You can rehearse some scenarios before you leave. If one pound is worth fifty American cents, then you would probably be ill-advised to by a two-pound bottle of water. That will cost you four American dollars. Right now it is more expensive for Americans to travel to the United...
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