Local Currency

It is a good idea  if you take a small amount of local currency with you whenever you travel.  Enough to last you for your first few hours. You will probably need to arrange travel from the airport to your hotel for example. A local currency is the easiest way for you to pay for these initial expenses. The exchange rates charged at airports are notoriously expensive. You better buy some currency before you leave and you will get a much better deal.

I believe the drawback to carrying currency is that if it gets lost or stolen, it can’t be replaced. For this reason, it’s best to use another form of money for most of your funds.

Travellers Cheques

These are the traditional way of carrying money abroad. When you buy the cheques, which can be in Sterling, Euros or US Dollars, you have to sign the stub of each cheque in the presence of the teller. Once abroad, you can convert the cheques into local currency. You can do so by signing the other half of the cheque at a currency exchange. Then the teller will compare the two signatures and also inspect your passport.

This system is more secure than cash as each cheque is uniquely numbered. So if a cheque goes missing it can be quickly cancelled and replaced by the cheque issuer. There is a drawback in that you have to cash the cheques at a currency exchange, and you might not find one offering a good exchange rate.

Prepaid Cards

These are used in much the same way as credit or debit cards. The big difference is that you have to “load” the card with funds before you can spend with it. They are a secure way of carrying money, as the card is replaceable if lost. And as the card can only be used in conjunction with a PIN number then even if stolen it’s difficult for a thief to make use of it. There will, however, still be exchange commission’s payable when you use the card. And also usually a flat fee for cash withdrawals.

Debit and Credit Cards

Debit and credit cards are accepted virtually all over the world. They may seem a good way of paying your way while abroad. They can be used for shopping, to pay restaurant bills and even to withdraw cash. Before choosing this as your money option though, check your card’s small print to see what interest rate is charged on overseas use. It will probably be higher than the standard rate of your card, and you will probably have to pay exchange charges too.

There are now several international cash machine networks in operation. For example the Cirrus network, and it’s likely that your cash card can be used internationally, especially in Europe and the USA. This is a good way of financing your holiday spending, as you can draw out what you need while keeping the rest of your money safe in your normal bank account. The downside is that you may have to pay a fee for each withdrawal. The exchange rate you’re charged may not be the best available.

The main thing you need to bear in mind with travel money is that while each of the above options is useful, not all are suitable for use everywhere in the world. The best advice: don’t rely on a single kind of travel money. Take a sensible mixture of cash, local currency, and debit/credit cards, to make sure you can always get local currency when you need it. Enjoy your holiday!

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As a British citizen (applicable for residents too), I have British Airways American Express Premium Plus Credit Card. It is one of the best travel rewards credit card which rewards me with a 2-for-1 travel with a British Airways Companion Voucher when I spend £10,000 each year. In other words, you can only receive a Companion Voucher if you are a member of the British Airways Executive Club and are the main account holder within a British Airways American Express Credit Card Account. The voucher is valid for 24 months and it allows the main account holder to make a flight booking using Avios and to book another seat on the journey for a Companion without having to pay the Avios for that Companion but only the airport fees and taxes.

How did I do it?

So, I booked a return flight in first class with British Airways to Miami for myself and my partner by paying 185,000 Avios and £1,364 airport fees and taxes.

The Hotel

We spent one night at Fort Lauderdale Marriott Harbor Beach Resort & Spa in a standard guest room, 1 king bed, with a balcony (partial ocean view). We booked it with 60,000 Marriott Bonvoy points.

The hotel is a great hidden gem! It seems to be a popular place. Because of that the amenities (pool, spa, beach etc) are not heavily populated, making using them much more comfortable. The con is that the bars and restaurants and be very packed at dinner but it gives it a buzz too.

The Cruise

The next day we boarded Celebrity Equinox for a 7 night Western Caribbean Cruise. We stayed in a Royal Suite. It was “won” through a bidding system called “Celebrity Move Up” for £415 per person on the top of the price we have already paid for our cruise. As guests staying in a Royal Suite, we had many perks. For instance a priority embarkation and disembarkation, premium beverage package, free wi-fi, unlimited speciality dining, butler service, gratuities included. In addition, we had access to “The Retreat” deck and lounge and many more extras, which could total up to £1,500 per person worth of perks.

Our ports of call were as follows: departed from Fort Lauderdale, Key West, Costa Maya, Cozumel and Grand Cayman. We had an amazing time and enjoyed to the fullest our first class holiday. We created so many unforgettable memories for the years to come and we looking forward to doing that again in the near future.

Summary

In conclusion and to sum up:

• London to Miami in first class
• 1 night at Fort Lauderdale Marriott Harbor Beach Resort & Spa
• 7 night Western Caribbean Cruise on Celebrity Equinox
• Miami to London in first class

Avios used: 185,000

Marriott Bonvoy points used: 60,000

Money paid: £4,694 (cruise + airport taxes and fees)

Cash cost of the holiday: £21,400

#travelinstyle

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