It is one of the most common questions people ask before heading abroad, and there is no single answer that works for everyone. How much cash you need depends on where you are going, how long you are staying, what you plan to do, and how you prefer to pay for things.
That said, there are some practical ways to work it out, and a few principles that apply to most holidays.
Why Getting It Right Matters
Taking too little cash can leave you scrambling for an ATM in an unfamiliar place, often at unfavourable rates and with additional fees. Taking too much means you end up converting money back on your return, which is never quite as good a deal as buying it in the first place.
A little planning before you travel can save you money and a lot of unnecessary stress.
Start With Your Daily Budget
The simplest way to work out how much to take is to estimate your daily spending and multiply it by the number of days you are away.
Think about what you are likely to spend each day on:
Meals and drinks
Local transport
Activities, attractions and entrance fees
Shopping and souvenirs
Tips (which are expected in many countries)
Any incidental costs like sunscreen, medicine or toiletries
Be realistic rather than optimistic. It is better to come home with a little left over than to run short halfway through the trip.
Factor in the Destination
Where you are going makes an enormous difference. A week in Japan will require a very different budget to a week in Bulgaria or Morocco.
As a rough guide for UK travellers:
Higher cost destinations like Japan, Scandinavia, Switzerland, Australia and the USA tend to require a daily budget of £80 to £150 or more for a comfortable trip, depending on your travel style.
Mid-range destinations like Spain, Portugal, Greece, Croatia and Dubai typically work out at around £50 to £100 per day.
Lower cost destinations like Morocco, Albania, Bulgaria, Hungary and parts of Southeast Asia can be very comfortable on £30 to £60 a day.
These are general figures and your experience will vary. Reading up on your specific destination before you travel gives you a much more accurate picture. Our country currency guides cover a wide range of destinations and include practical tips on everyday costs.
Think About When Cash Is Essential
Even if you plan to rely mostly on your card, there will be situations where cash is the only option. Markets, street food stalls, smaller restaurants, local transport, tipping and certain attractions often require cash payment.
In some destinations, cash is genuinely the dominant way of paying for most things. Japan is a good example, where many smaller businesses, temples and rural areas operate on a cash-only basis. In others, such as Scandinavia, you could potentially manage without much cash.
Knowing which type of destination you are heading to will help you decide how much physical currency to carry.
A Simple Rule of Thumb
If you are unsure where to start, a reasonable approach is to budget for roughly 60 to 70 percent of your expected spending as cash, and keep your card as a backup for larger purchases and emergencies.
So if you estimate you will spend around £800 on a two-week trip, taking around £500 in local currency and using your card for the rest is a sensible starting point.
Do Not Forget to Budget for the Airport
A lot of people budget carefully for the trip itself but forget that spending often starts before you have even boarded the plane. Meals, drinks, books and last-minute bits at the airport all add up. If you are buying any of these with foreign currency, factor that in too.
What About Tipping?
Tipping customs vary considerably around the world, and in some destinations it forms a significant part of your daily spending.
In the USA, tipping 18 to 20 per cent on restaurant bills and taxi fares is standard. In South Africa, tipping is part of everyday life for restaurant staff, hotel porters and guides. In Japan, tipping is not customary and can even be considered rude.
Knowing the local customs for your destination helps you plan more accurately and avoid any awkward moments.
Keep Some Back for Emergencies
It is always wise to have a small reserve that you do not touch unless you genuinely need it. This could be an extra £50 to £100 set aside in your bag or hotel safe. Unexpected costs come up on holidays, from a missed connection to a medical visit, and having a small buffer takes the edge off.
Selling Back Unused Currency
If you do return with leftover foreign cash, the good news is that TravelCash will buy it back from you at a great rate. So there is no need to be overly cautious about taking a little extra. You will not lose out if you have some left over.
Ready to Order Your Travel Money?
Once you have worked out roughly how much you need, the next step is getting a great exchange rate. At TravelCash, we offer competitive rates with 0% commission, and ordering is quick and straightforward online.
Find your nearest TravelCash bureau and collect your currency at a time that suits you. If you order before midday on a weekday, popular currencies are often ready the same day or the next working day.
