Holiday Money & Currency Budget Calculator

Holiday Money Guide

What's the key thing to understand about Getting the Best Exchange Rate?

Worst places to exchange currency: airport bureaux de change (often 10-15% worse than mid-market rate). Hotel exchange desks. High street bureaux de change without comparison. Best options: Wise (formerly TransferWise) multi-currency card: mid-market rate with small transparent fee. Starling Bank and Monzo: no foreign transaction fees on card spending. ATM withdrawal abroad with Starling/Monzo: typically best available rate. Pre-order online: typically better than high street walk-in rates. Post Office and specialist online exchanges often beat both banks and airport bureaux, particularly for less common currencies where competition is thinner.

What's the difference between Cash and Card Abroad?

All card: zero foreign transaction fees with Starling/Monzo/Wise. Great for restaurants, hotels, shops. No exchange rate loss. Disadvantage: some local markets and taxis are cash only. All cash: pre-order from competitive provider. Good for very cash-dependent destinations (SE Asia, Morocco, parts of Eastern Europe). Disadvantage: lost or stolen cash cannot be recovered, meaning any theft or loss of physical cash is a genuine, unrecoverable financial loss unlike a stolen card, which can be cancelled and refunded. Best approach: take a no-fee card as primary payment method, with £100-200 equivalent in local cash for small transactions.

What's the key thing to understand about Budget by Destination?

How much cash you actually need depends heavily on the destination's card acceptance. Cash-heavy destinations: Morocco, Egypt, Vietnam, Cambodia, Myanmar — carry more cash, many vendors prefer it or cards are not accepted. Card-friendly destinations: UK, Eurozone, USA, Australia, Japan (improving rapidly) — cards accepted almost everywhere. Japan: historically very cash-oriented, but rapidly improving (IC cards like Suica work for most transport and many convenience stores). Currency controls: some countries restrict how much local currency can be brought in or taken out, so check specific rules before travelling with large amounts of cash.

What's the key thing to understand about Currency for Different Zones?

Eurozone: single currency across 20 countries — no conversion cost when travelling between Eurozone countries. UK in Europe: £ to € conversion needed. Approximate exchange: £1 ≈ €1.15-1.17 (2024). SE Asia: multiple currencies in one trip. Typically worth converting to USD or EUR first, then to local currency, as £ is not always well-traded. Thailand, Vietnam, Bali: small local bureaux de change often give better rates than airport or bank. Always count your money at the counter before leaving. Torn, marked, or very old banknotes are sometimes refused in certain countries, so request clean, newer notes when exchanging currency before travelling.