Cash ? ummm who keeps cash ?

dopoognora

i do something similar for different reasons
If i have large amounts of cash (usually abroard), i stick most of it in a hidden part of the wallet, e.g folded in where you would normally put a credit card, i do this so that im not flashing loads of cash around everytime i need to pay for something. However last time i did this i got to the end of the holiday then found a wad id forgotten about (i thought the money had gone fast). But since then the exchange rate has become less favourable, so having the extra euros actually proved good in the end

wjh31

I love it when people who are speaking out their own opinions on saving money don't realize that their advice makes little sense and what they're really advocating along with lifehacker is that they're advertising their pay-ad website just like lifehacker except giving out crap advice.

parkingticket

sounds like a good plan but it's hard to stick with. i recently went on a trip to europe with friends and its hard to keep up with everyone if the budget is different for each person.

pjp13

I prefer to use a app like "Handy Expense" on my mobile phone to track my expenses rather than using her tricks...

Jahmon

@dopoognora: I do.

Heck, if you visit someplace like San Francisco, California, you'd be wise to keep some cash. If you hop aboard a MUNI bus, they don't accept credit cards. Also, a lot of mom-and-pop cafes don't accept 'em either, and many informal joints (taquerias, noodle shops) don't accept plastic.

Amusingly, many of San Francisco's finest dive bars are also cash-only.

That said, Dubrow's idea is reasonable, but one that doesn't work so well in real life. When I travel, I find that some days you burn through a lot of money, and other days are much more frugal. It's fine to stick this money is a more remote part of your wallet, but realize that it's very difficult to predict when you'll need those extra bucks for something special and unexpected.

Deprong Mori

@dopoognora: Not big on the travelling are ya? Some places, people just don't use plastic. Even in modern, cosmopolitan places (Berlin comes to mind as a prime example - I think I was able to use a credit card 3x the whole time I was there...a year ago).

Also, it's really hard to haggle or pay a bribe with a credit card! A smart traveler always carries some local currency.

I always track my expenses as I go, but it's hard to do a day-by-day budget when traveling in a place where you have to try to account for both a different cost of living and a different exchange rate.

Troy F.

For many travelers (myself included) the cheapest way to get foreign currency is from the ATM, which means that I'm carrying several days worth of cash when I travel.

When I'm on a US trip, I usually keep track of my expenses in a small notebook. Reviewing the list at the end of the day helps me identify unnecessary expenses & do better the next day (for example, buying water at a tourist site instead of picking some up at a grocery store)

The full post includes some additional tips for dealing with credit cards:
[www.getrichslowly.org]

deliciousbaby

@Troy F.:
Thanks for letting us know how the outside world works you little globetrotter ! ;)

This article forgot to mention Traveler's checks, much safer than walking around with a wad of money and the commission fee is lower than if you're pulling out cash from a foreign ATM with your CC.

Edoga

The main problem with this idea is the inefficiency of taking $300 and separating it into $75 to last into a 4 week budget. If you go to an ATM machine to withdraw $300 in multiples of $20. You'll have to find someone who'll split your $20 for (4) $5 bills, or upgrade your budget to $320, $400 or downgrade it to $240

ksfkay

The easiest way for me not to spend money that I don't want to spend is to give it to someone else to hold. And I warn them to give it to me under no circumstances. (of course there are always a few exceptions - I find if I start crying very hard, they give in).

Louise

LouiseVin

I usually only travel for work. I also usually don't travel alone. So I use my CC for nearly all of my purchases (free points). On the rare occasion that I need cash, I just work out a deal with my co-worker. I'll buy dinner on my CC and they will give me cash for their part. Instead of me expensing the whole meal, we each expense half. It has only failed me once, when the waitress didn't know how to give another receipt.

Ryan Fisher

I actually do this a lot in everyday life, not just on vacation. If I have cash to last me a few days, I just tuck what I intend to spend in my regular wallet and stash the rest somewhere else in my (huge) bag. Although it doesn't entirely curb spending over budget, it does prompt a conscious decision.

This is also a good trick if you're halfway to the club and realize you just dumped your whole wallet in your evening bag, tomorrow's grocery money and all!

KatieKate93