Image by VIP-Studio India
When it comes to honeymooning out of the country, most couples tend to make a few mistakes as far as their money is concerned. This is where this handy guide comes in. There are many cheaper, easier and more convenient ways to pay for things and also avoid unexpected charges when traveling. Here are important money management tips for couples who plan to honeymoon outside the country:
1. Buy currency before you go
Not at the airport. When you buy money at the airport, you end up paying a lot more. Instead, enquire at your bank or any financial institution for a fair exchange rate. The interest rates are lower and many would give you discounts if you happen to be their member. In any case, make sure you notify your bank about your foreign travel so they can expect your foreign transactions.
Image: Sharik Verma
2. Carry just enough cash
Traveling with too much money is never advisable. Instead, try to carry just as much as you’d need to pay for taxis, or things like drinks or snacks. It is always safer to carry a pre-paid credit card. Also, if you are buying travel insurance, you might want to check the coverage in case of loss or theft. This coverage amount can help you decide how much cash to carry when you go. Note that many foreign countries would not accept your ATM credit/debit cards. So talk to your bank about whether these cards can be carried.
3. Estimate your expenses before you go
This includes travel, accommodation, meals and other costs for the itinerary. You can also visit sites like TripAdvisor to find out other honeymooners’ experiences. This can help you consider feasible alternatives and also take measures to reduce your expenses.
4. Avoid unexpected phone charges
Talk to your phone company before you leave on your trip. Calling, data and texting charges can be quite expensive so verify your coverage before you go. Try to also estimate how much data you will be using during your honeymoon period. As far as possible, try to use free Wi-Fi where available. Also make sure you disable certain phone applications to avoid unnecessary data consumption. Try and avoid streaming movies, music and videos as they can be quite expensive when roaming.
Image- Rajesh Arya
5. Be informed
Be informed before you go. Ensure that your destination is safe. Many travel companies could null or void your insurance should you have to cancel your trip because of sporadic issues at the place you are traveling to.
6. Duty and customs
If you plan on shopping there, note that you can only bring back goods of only a certain value into your country. Here is a great article on how much you might have to pay in event you end up bringing expensive goods back from your honeymoon. Always keep original receipts and try to declare everything you have brought whether for yourself or as gifts.
7. Once you are back
Keep a receipt of all your transactions at the destination. Once you are back, check it against your monthly accounts statement. Verify this against those receipts to ensure there are no transactions you do not recognize.
Have a safe and happy trip!
