This is a question I’m often asked by my clients.
In today’s nearly cashless environment here are some things to consider when traveling to determine how much cash you should travel with. I guess I should’ve started with, yes, you should take cash!
Swipe and go is such the norm presently, so many, self-included don’t carry cash. Our number one form of payment is credit or debit card and when in need of cash, we simply use the ATM domestic and abroad. Sidebar – a savvy traveler should have a credit card that earns travel rewards!
You may ask yourself, do I need cash at all? The answer is yes, and here’s why. Small vendors may be selective in the cards they accept because of bank fees, they may also charge a surcharge for credit and debit card purchases or reverse the approach and give you a cash discount. Some may not take credit cards at all, especially street vendors.
To determine how much cash to take, first Determine what is prepaid in your travel plans and included in your package, especially meals, transportation and attractions and what’s not included.
Once you’ve made that determination, detail the items you’ll need to take care of in cash.
- Who and how much you will need to tip in cash
- Street shopping
- Meals and snacks that aren’t included, especially those, “on the go” type of meals
- How card friendly is your destination
- What are your personal cash spending habits
- How internationally friendly is your own debit card
Now to the question at hand… HOW MUCH SHOULD I TAKE?
I typically recommend $50 – $100 per person per day. You’ll need more based on the last three points above, How card friendly is your destination, Your own spending habits, and Your own debit card fees. Then add an additional $100 – $200 of “mad cash” for those what-if moments.
Yours truly,
Ja’Vonne, aka, The Traveling Culturati