To maximize credit card points, I charge everything I can. That being said, I also ALWAYS have cash in my wallet.
What if I need to tip a valet or someone at a hotel or buy something in a place where the credit cards are not accepted, or the system isn’t working, or I don’t want to pay an additional surcharge for using a credit card?
I always have about $50 in various bills with me in my wallet as well as an emergency $20 with my car keys.
That’s in the United States. My desire to always have some cash comes with me when I travel.
Before I leave for a trip, I exchange a small amount of money into the currency where I am going. Yes, the taxis from the airport usually take credit cards and so do many stores, but what if they don’t? What if I get to my hotel after a long overseas flight and the only place to buy a snack is a place that only takes cash?
Yes, I know I’d probably get a better exchange rate when I am in the actual country, but that defeats the purpose of always having cash on me.
I can always use my cash to tip tour guides, people at the hotel, or buy something. Some of my favorite purchases are things I buy when I have a few leftover whatevers and needs to spend them.
I also know there are some travelers who plan to tip people in American Dollars and think the recipient will be grateful. I ask you this, what if someone handed you 185 Thai Bhat for something you did and expected you to be appreciative? That’s worth about $5 USD, but that’s only if you are able to exchange it, and if you can’t it often comes with fees. If you can’t exchange it, it’s worthless.
I’m interested to hear your thoughts about this. Do you carry cash in the local currency when you travel and if you do, do you exchange it before you leave or when you arrive?