Henry Todd Stella Shares 3 Money-Saving Tips For Traveling Abroad

Henry Todd Stella cites his love for travel as the foundation for his company, Go Tour. However, international travel can provide some unexpected challenges, including those that revolve around paying bills and converting currency. Here, Henry Todd Stella, Los Angeles entrepreneur, shares some simple tips that will save you lots of money and headaches on your trip.

1. The very first thing you want to do when you have made your plans to travel internationally is to make sure to tell your bank and credit card companies you are leaving the country. If you don't, they may think the activity on your account is fraudulent and freeze your credit and debit cards the first time you make a purchase overseas.

2. It is essential when traveling to make sure that you are getting a reasonable currency exchange rate. This can help make the cost of your trip much less, especially if you plan on buying lots of souvenirs. Do not exchange money before you leave for your trip. Currency exchanges in airports can be costly, as they often charge huge fees and give you a terrible exchange rate. Instead, use your ATM card to get cash at the airport when you arrive. ATMs have a much better exchange rate than any Forex exchange you will find.

Before leaving on your trip, call your bank to see if they offer Worldwide ATM reimbursement. If they don't, one option is to open an account at First Republic Bank. They reimburse any fees from any ATM anywhere around the world. Here is a link if you are interested.

3. If you want to maximize your currency efficiency, use your credit cards as much as you can. Credit cards are the most cost-efficient way to pay for anything. Credit cards always have the best exchange rates. However, make sure the credit cards you use internationally have no foreign transaction fees; if it does, you may pay up to a 3% fee on every purchase.

Give your credit card company a call and make sure you have no foreign transaction fees. If your credit card does charge foreign transaction fees, ask your card company if there are other options available.

By following Henry Todd Stella's financially savvy tips, you will save tons of money when traveling abroad. You'll be able to spend your money to buy the things you want rather than succumbing to extra fees and bad exchange rates.

Have a great trip!

About Henry Todd Stella

Henry Todd Stella, a former Los Angeles resident, is a licensed financial management professional who started his career over 30 years ago. He is an entrepreneur and has worked as a vice president and wealth advisor, and senior account representative for major wealth management firms and banks, including Donaldson, Lufkin and Jenrette, Morgan Stanley & Company, and Union Bank Investment Services. After investing in several startups, Henry Todd Stella traveled extensively, especially throughout Europe. This experience led him to start a travel search engine, www.gotourinc.com, so that he could share his experiences with other travelers.