I was recently contacted by somebody from the UK Post Office, about their new Travel Money Card. They did a survey that shows that 30% of people say taking food from home is their best way of saving money on vacation. The results suggests that with the current exchange rates and weak pound at the minute, people could save on average about £34 by taking their own food and people are taking stuff like tea bags (58%), marmite (blech) (20%), chips (36%) or cornflakes (35%) when they go on vacation. Apparently nearly half (43 per cent) also admitted to taking extra from the hotel breakfast buffet and stashing it in their beach bags to eat later in the day!
The Post Office Travel Money Card allows holidaymakers to preload a card with foreign currency which they can then use abroad, which helps save on costly foreign exchange rate conversion fees. It doesn’t have any credit or debit facilities so it’s impossible to overspend and money can be loaded on to the card in installments.
When we travel abroad, we just use our regular bank cards. But I really like that this one can be loaded in installments and can’t be overspent- perfect budgeting in action! I’m not quite sure if it’s only available for those with UK accounts or not, but it certainly sounds interesting.
Here are my favorite links from the week:
- 103 Debt Management Calculators @ CESI
- Spending Less Than You Earn Is Not Enough @ Oh My Aching Debts
- Seeking Self-Reliance, Americans Raise Own Chickens @ NYTimes.com
- Investing in Our Kids. Should we give our children financial advice? @ Babble.com
- What’s worth the money (and what’s not) @ (What if No One’s Watching?)
- No Limit: Know Your Worth @ DailyWorth
- Insurance – Key Questions for Consumer Empowerment – Brochures & Catalogs, questions, and consumers
- Frugal Living 101: A practical mom tells her story
- Shopping Ethics @ beingfrugal.net