For Canadians travelling to the U.S., it can be a very exciting experience. However, with the different currencies, it is important that you remember to plan for your expenses before you travel.
Luckily, here are 3 things to know before travelling to the U.S.:
1. Canadian money is typically worth less than American money.
Although the exchange rate is constantly changing, it is important to know that the Canadian dollar is typically not worth as much as the U.S. dollar. Since Canadian money is worth less, many American establishments will not accept it as a form of payment. While it may be easier to find establishments closer to the border that will accept the currency, you should have American money on you when travelling.
It should also be noted that since American money is different in appearance from Canadian money, you will need to give yourself a bit of time to become familiar with the bills and coins. Becoming familiar quickly is important in order to avoid accidentally handing over too much money in transactions and potentially receiving incorrect change.
2. Be careful when using your debit card.
When visiting the United States, you should not have any trouble using your debit card, although you need to consult with your bank beforehand to make sure. However, you should actually avoid using your debit card in the U.S. because of the additional charges attached to transactions that could be between $3.00 to $5.00. Whenever possible, you need to take your money out money in one lump sum and simply accept the normal $1.50 for the transaction from an ATM.
If you use a credit card, you should also not experience any difficulties. However, you will need to become familiar with the possible charges attached for transactions in the U.S. It is also recommended to let your credit card company know when you travel so that they do not think your card has been stolen.
3. Budget your money wisely.
Before you travel to the U.S., you need to create a budget and keep track of your spending. If you want the least amount of hassle when shopping in America, you should exchange Canadian money for American money before you leave home. However, just remember that you will spend more Canadian money to get less American money. Not only does this occur because of the exchange rate, but your bank may also charge you a fee for the transaction.
By budgeting your money before travelling, you will be able to avoid spending more than you originally intended. Since it is too easy to spend money and put yourself in debt, it is highly recommended to be a smart consumer while travelling.
One of the best ways to reduce spending outside of limiting your spending limit is to only bring carry-on luggage. With the limited space, you will only be able to bring home few items, so you will learn how to prioritize your purchases and potentially spend less money.
With these 3 things to know before travelling to the U.S., you will better be able to manage your funds. By correctly managing your funds, you will be able to make the best of your travels further down south.
Jeff Noble work in a popular travel agency. He enjoys passing on his travel insights through blogging. Visit the Loonie takes flight link to learn more.