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6 travel mistakes that mercilessly 'drain' your money

6 travel mistakes that mercilessly 'drain' your money How to save money on vacation (photo: Getty Images)

Vacation is perhaps the most anticipated event of the year if you've worked hard and diligently. Of course, you want to have a quality vacation, but there are times when you simply overpay for nothing, according to experts at The Telegraph.

Buying currency at the airport

Remember that the airport always puts a markup on absolutely everything, including foreign currency.

Nowadays, you can pay with a card everywhere, so you may not need cash. If you do need it, it is better to exchange it either in your country according to the local exchange rate or in your destination country.

Payment in a currency other than the local currency

Shops, restaurants, and foreign cash points sometimes offer to accept payments that are already converted to your home currency instead of the local currency.

Choosing a pre-converted rate may cost you more, so choose the local currency.

You don't know how to count quickly

It may sound strange, but without this skill, you are likely to overpay. Imagine a situation: you want to buy some clothes abroad that are also sold in your country. But it may turn out that it is much cheaper at home. There can be many such examples, so you should be able to at least roughly understand the cost of goods in your native currency.

Losing money on a "closed" currency

A closed currency is one that can only be bought in the country where it is issued. So you'll have to exchange money after you arrive, not before you get there.

The biggest mistake in this is exchanging too much and forgetting to make the return exchange to your currency. There is a very high probability that you will not be able to exchange back the currency you bought or spend it.

No VAT refund

Some countries allow tourists to get a Value Added Tax (VAT) refund on goods they bought during their visit. Usually, up to 20% of the purchase price is refunded.

Arriving unprepared

Before you arrive in another country, check out the prices in the places that are cheaper, more expensive, etc. Without knowing at least the approximate local prices, you can significantly overpay simply because you are a tourist.

If you don't find reliable advice on the Internet, talk to locals, hotel staff, or taxi drivers. But do not turn off rational thinking. If someone you know has already been to the place you're going, ask for their feedback.