A lot of people love to travel to do their shopping, as it gives them the chance to acquire new things, as well as items that are different from what is produce in their own countries; and when you are on a shopping mission in a foreign country, one thing you do not want is being running out of money to spend. What else could be worse than that, you are in a strange land (far away from home) and broke with no hope of getting money from anybody. So therefore, you need to know how to money saving strategies while shopping in a foreign country, for example, disciplining yourself by strictly keeping your purse string tight (to some extent), as well as knowing certain other money consuming items or activities that could easily swallow when in a different country.
Ensure you travel with credit cards that do not incur foreign transaction charges.
You should make sure you are travelling at least two credit cards that do not make you pay extra. The little tits and bits the transaction fees charged will not be considered significant until, it’s all summed together and you are looking at some ridiculous amount. It is advisable to carry at least two because certain shopping outlets might reject certain types of credit cards. Some don’t collect MasterCard or visa, while some do. Carrying two or more will be a decision you never regret. Also, your card could be misplaced in the whole hustle and bustle of shopping, you can rest assured you have a back up.
Notify your credit card company.
Cyber hack are now very prominent these days, and your ATM card is no exception. Before you jet out of the country, ensure you notify your credit card company that you are going out of the country, so that necessary precautions can be taken. By this you are covered from any form of unauthorized activities on your account, like hackers stealing money from your account.
Use the local currency to pay.
Being asked to pay in Euros, Dollars or Pounds while shopping overseas is one of the quickest ways for you to incur extra charges on your account. For example, paying in U.S dollars would be perceived as a convenient option, whereas it isn’t. It’s a big way of incurring extra charges, because they charge a higher fee than your bank, back in the states. Once you get into the country, as quickly as possible get your currency changed into the local currency of the country you are in, it saves you some bucks.
A currency converter will be a very good friend to keep.
Shopping in a country with an unfamiliar currency can be challenging. A poor understanding of the local currency can really damage your budget, as you might thinking you are buying at a “steal price” whereas you just bankrupted yourself.
On days like this, having a currency converter (maybe an app or as a phone feature) will be very good.
Or you can check online for the latest exchange rates and calculate for yourself.
Get your receipts.
When you are done shopping and ready to leave, ensure you have collected all receipts on all purchases, as receipts will be very essential in case of a future refund is later required.