Money Saving Tip: Making Your Monthly Wage Go Further

Whilst on holiday we are often offered the choice between paying in the local currency and pounds when using debit or credit cards. I had heard, I am not sure where, that paying in the domestic currency is always better value.

But it seems so much more comfortable to pay in pounds which are so familiar to us. It seems risky to choose the local currency because who knows what we’ll end up paying!


I was taught to always market test. So I did.


Now I know this is a stupidly small sample, but it might encourage you to test likewise. Because these days you can check almost immediately what you card provider has actually charged.


Firstly, I had a marina fee in Croatia (we had chartered an old yacht between us) I was offered to pay in Kunas (616) or in Pounds (£75). I choose kunas and quickly checked my Barclaycard using the iPhone app. I was charged £66.82 - a saving of 11%.


On the flight home, I was offered by the cabin crew a choice between pounds and euros. Euros was domestic currency of the airline - so I choose euros. The difference was smaller, but still in my favour. They asked for £15.80 but my debit card was only charged £15.29 - this time a saving of 3.5%. Far smaller but hey, still better in my pocket not theirs.


So I recommend always paying the local currency and checking whether you are getting a better deal.


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