Conversations about money

[dancerjodi]

This post http://www.getrichslowly.org/blog/2009/02/23/outside-looking-in-how-others-view-our-spending/ gets into discussions with friends about money and the 'you can't have it all' idea.

We have now paid for our Italy trip in full. How do you traveler's decide what to bring for spending/meals/entertainment? Some of our meals and tickets are included in the package, though not all of them are.

Comments

[pir.livejournal.com]

I don't plan money for trips and almost never bother changing money ahead of time (it helps that I have a small stock of cash for most of the countries I visit semi-regularly).

Generally I get money out of an ATM in that country for my cash needs, I just try to do it in large enough batches to minimise the fees (or if I go out to dinner with a large group who are payingin cash using them as a cash machine) and spending as much as I can directly onto a credit card. Unfortunately some cards are upping their fees for foreign transactions now, something to check beforehand.

[silentq.livejournal.com]

I initially budget $100/day for spending when I travel, and rarely actually hit it. I'll scale it back closer to $50 if I'm going somewhere cheaper, meals are included in already paid room prices, or if I've prepaid for tours. I really hate worrying about running out of money, and get any prebought cash from somewhere that will buy it back at the same rate.

[fidgetmonster.livejournal.com]

Check with your credit & debit card companies about their fees on international currency purchases. some use the daily exchange rate, some tack on a percentage. and if you think you already know, check again; that's one of the new ways they're recouping money is by upping those fees. if none of your cards offer anything reasonable, then shop around for a better alternative. travelers checks are a little antiquated, but they still work. i'm wondering if the pre-paid amex card has a transaction fee--i'd look at what they offer anyway--they try to keep up on convenient options for travelers, and if you have problems there is usually a store in a foreign city that you can go in. (like you lose the card). there is another alternative to traveler's checks--something new--but i'm drawing a blank right now. maybe someone else will suggest it, or i'll remember later.

I have no idea how this works, but I used to go into a bank, hand the teller my debit card and ask for X amount of money from it. I never got charged transaction fees that way. YMMV by bank.

[deadwinter.livejournal.com]

Since my first trip to France when I realized no one freaking took em, I haven't bothered with traveler's checks.

Really, unless you've been there, research and maybe forums are your best bet. Unless I'm camping, I always start with the assumption that all three meals will be in a restaurant, and then find out how much that would be per day. Then throw on top of that entrance fees to the various places you want to visit. Find out how much a public transportation day pass is if you're going to a place that relies on it.

I have a bad habit of taking too much cash and then ending paying with a CC for everything, then having to convert the currency back and getting nailed. Of late I've been doing what pir does as soon as I land.

[nepenthedreams]

When we went on an organized tour, they let us know about how much money per day we should bring. For example, for Egypt, they said about $30 per day. Since ATMs are available all over Italy, I would probably not worry about getting out the exact amount and just take out what you need as you need it - starting maybe with $200. Meals in Italy can be expensive, but they can also be cheap (stand-up sandwich bars, going to the grocery store/market to buy food).

Also, check to see if you are supposed to bring tips for a kitty - sometimes they have a tipping kitty that you are supposed to contribute to (so that the guide can tip for the whole group).

also, it is usually suggested to tip your main tour guide/coordinator. Usually the travel company will tell you how much is normal.

[nepenthedreams]

That article was interesting.
I love being out of debt and saving money because it means no one can really look askance at what I choose to spend my money on. I also feel like the moment you complain about money, you invite judgement.

I admit to being judgemental and worried about some (close)friends who seem to continually make poor financial decisions. But only because I went down that path myself (well, I should have a bike to exercise, so I'll just put it on my credit card. It's a "good" charge because it makes me healthier. That sort of erroneous thinking.)


It really annoys me when people who make poor financial decisions express their envy and jealousy of you, thinking that you're so lucky that you're out of debt...when really you've done the same things they have, but now are making better choices and decisions and maybe even sacrificing a little bit to get there. It's not luck at all.

[dancer.livejournal.com]

" I admit to being judgemental and worried about some (close)friends who
seem to continually make poor financial decisions."

I struggle with this myself. I know they are adults and have to make their own mistakes and fix their own problems, but at the same time I worry about how they are going to weather this storm (and how it will set them up for life down the line).


"It really annoys me when people who make poor financial decisions express their envy and jealousy of you, thinking that you're so lucky that you're out of debt...when really you've done the same things they have, but now are making better choices and decisions and maybe even sacrificing a little bit to get there. It's not luck at all."

I can definitely sympathize with this too. I know from experience that when you are in the thick of it, its easier to blame everyone else for your own problems or think they have it easy with their own good fortune. Money is just a thing, but its so powerful in our lives. Its been an interesting process to see things from both sides of the fence, which was why I liked this article so much.

[sajuka.livejournal.com]

On personal vacation I tend to go with the "you only live once approach", but it helps that both of us eat pretty cheap (no alcohol, few appetizers or desserts, etc). So in the grand scheme of things, while I could pull it up in GnuCash, I can't tell you off the top of my head how much we spend on while on vacation.

Having done international travel for business recently, I can say it varies a lot based on where you are. I blew an entire day's per diem (about US$60) on dinner in Sydney (by myself!). I had a nice meal, but it wasn't THAT nice. But when I was in other parts of the country I ate very cheap (bought muffins and OJ at the local store for breakfast, made sandwiches for lunch, etc). So the US$60/day was too much except for the nice dinner in the big city. Generally traveling alone I probably spend about $30-40 on meals and snacks per day (realizing I also spend a bit more traveling on business because I know it will be reimbursed). But at the same time I was on the losing end of the exchange at that time (AU$:US$ was almost 1:1 when products were priced more for when they were about 1.5:1).

Hope that helps...