Money & Insurance
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- Is it worth it to pay for travel insurance?Travel insurance is worth it for costly nonrefundable bookings or trips abroad without health coverage; it is optional for cheap, flexible trips.
- Is $5,000 enough for a trip to Japan?For one person, $5,000 usually covers a comfortable one- to two-week trip to Japan from the US, including flights, mid-range hotels, food and rail travel.
- Where is the cheapest place to exchange currency?Usually the cheapest option is withdrawing cash from a bank ATM abroad with a no-fee card; airport exchange counters are typically the most expensive.
- How much cash should I bring to Prague?You need little cash in Prague: cards work almost everywhere, so a small amount of Czech crowns for tips, markets and small shops is enough.
- Is it better to exchange money in the morning or afternoon?Time of day barely matters for travelers. Where you exchange and the fees you pay affect your rate far more than morning versus afternoon.
- Can you get the Chase Sapphire Preferred bonus again?Possibly. Chase's offer terms decide eligibility; some former cardholders have reported approval for the bonus again, but it isn't guaranteed.
- What can you do if a travel agency rejects your complaint?Escalate in writing, dispute the charge with your card issuer, then complain to your state attorney general, the FTC or a professional association.
- Where is the safest place to keep cash when traveling?Split your cash: carry a day's worth in a front pocket, keep a reserve in a money belt or hidden pouch, and lock the rest in the hotel safe.
- Can Americans get a VAT refund?Yes, US residents visiting the EU and many other countries can reclaim VAT on goods they take home, if they meet the minimum spend and get forms validated.
- How much money should I bring to Canada as a tourist?Budget roughly CA$100 a day on a tight budget and CA$250 or more mid-range; carry little cash, as cards work almost everywhere in Canada.
- Do banks still exchange foreign currency?Many US banks still exchange foreign currency, usually for their own customers and often with a few days' notice; ATMs abroad are often cheaper.
- How can I save money on food while traveling?Eat breakfast at your lodging, have your main meal at lunch, shop at markets and supermarkets, cook some meals, and eat away from tourist areas.
- How do I create a travel budget?List every cost category, research real prices for your destination, add a 10–15% buffer, then track spending daily during the trip.
- How much do money transfers cost?US domestic wires usually cost about $25–35 to send; international wires cost more plus exchange markups, while online services are often cheaper.
- How much does travel insurance cost?Comprehensive travel insurance usually costs about 4–10% of your prepaid, nonrefundable trip cost; age, trip length, and coverage change the price.
- How much money should I save before a trip?Save enough to cover transport, lodging, food, activities, and insurance for every day of the trip, plus a 10–20% buffer for emergencies.
- How much money should you take on a 7-day vacation?Budget for 7 nights, flights and daily costs, then carry spending money for about 7 days plus 10–20% extra; take only a little of it as cash.
- How to save money on travelCut travel costs by traveling off-peak, staying flexible on dates, booking stays with a kitchen, using public transport and avoiding card fees.
- Is $1,000 enough for a trip?$1,000 is enough for a short domestic trip or a budget week in an affordable country, but rarely covers airfare plus a week in an expensive city.
- Should I pay in my currency or the local currency?Choose the local currency. Paying in your home currency triggers dynamic currency conversion, which usually adds a markup to the exchange rate.
- What are the disadvantages of travel insurance?Travel insurance costs extra, has many exclusions such as pre-existing conditions, may require paying upfront and involves paperwork for claims.
- What happens if I have a medical emergency abroad?Call the local emergency number, get treated, and expect to pay upfront unless your travel insurance arranges payment; the US embassy can help find care.
- What is the best card to use internationally?The best card abroad is a Visa or Mastercard credit card with no foreign transaction fees, plus a debit card with low ATM fees for cash.
- What is the best way to pay for purchases abroad?Use a credit card with no foreign transaction fees, always pay in the local currency, and carry a debit card for ATMs plus a little cash.
- What to do if you are scammed by a travel agencyAsk your card issuer for a chargeback right away, gather evidence, and report the agency to the FTC and your state attorney general.
- Why is it important to budget for a vacation?A vacation budget keeps you out of debt, shows what you can afford, helps you spend on what matters most, and leaves room for emergencies.