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  • FIRST POST
    • Sstarkey
    • By Sstarkey 12th Oct 16, 8:33 AM
    • 1Posts
    • 0Thanks
    Sstarkey
    0 WOW
    Lock in rate on a pre paid card or wait
    • #1
    • 12th Oct 16, 8:33 AM
    0 WOW
    Lock in rate on a pre paid card or wait 12th Oct 16 at 8:33 AM
    Hi There. I was hoping for some advice. We are going to New Zealand in March, something we have been saving up for for a long time. I have already booked all of the accommodation. Most of the accommodation is to be paid for when we get there. Since booking the rooms Brexit happened and so the cost of everything has gone up due to the exchange rates. Should I think about getting a pre-paid travel card to lock in the current rate in case it drops any further and costs even more. I have been saving money in order to exchange it closer to the time, but fear it will cost so much more. Any advice would be appreciated. Thank you
Page 1
    • PeacefulWaters
    • By PeacefulWaters 12th Oct 16, 10:34 AM
    • 6,020 Posts
    • 7,296 Thanks
    PeacefulWaters
    • #2
    • 12th Oct 16, 10:34 AM
    • #2
    • 12th Oct 16, 10:34 AM
    If anybody could answer your question with certainty they'd be trading on the currency markets and becoming very rich.
    • Voyager2002
    • By Voyager2002 12th Oct 16, 11:21 AM
    • 11,364 Posts
    • 7,691 Thanks
    Voyager2002
    • #3
    • 12th Oct 16, 11:21 AM
    • #3
    • 12th Oct 16, 11:21 AM
    Get a prepaid card that allows top-ups as and when... put some of your travel budget on to the card each month. That way you will gain some protection against extreme fluctuations.
    • Doshwaster
    • By Doshwaster 12th Oct 16, 11:59 AM
    • 4,634 Posts
    • 3,774 Thanks
    Doshwaster
    • #4
    • 12th Oct 16, 11:59 AM
    • #4
    • 12th Oct 16, 11:59 AM
    Yes, putting some money onto a currency card each month can be a good way of saving for a holiday. The card won't pay any interest but it will balance out swings in the exchange rate and stop you accidentally spending the money on other things.
    • maman
    • By maman 12th Oct 16, 12:37 PM
    • 15,760 Posts
    • 93,832 Thanks
    maman
    • #5
    • 12th Oct 16, 12:37 PM
    • #5
    • 12th Oct 16, 12:37 PM
    Get a prepaid card that allows top-ups as and when... put some of your travel budget on to the card each month. That way you will gain some protection against extreme fluctuations.
    Originally posted by Voyager2002
    Martin was asked this question on the radio on Monday from someone travelling to South Africa in several month's time.


    His advice was to split it and do some now and some just before you go.


    So, as you say voyager, hedge your bets. If the rate improves you'll have some at the better rate and if it doesn't you have that too.
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