Financial holiday advice

Travel Insurance

Read customer reviews on the best travel insurance brokers and providers. Make sure that you are covered for the following:

• Medical and health cover for an injury or sudden illness abroad
• 24 hour emergency service and assistance
• Personal liability cover (if you are sued for causing injury or damaging property)
• Lost and stolen possessions cover
• Cancellation and curtailment (cutting short your trip) cover
• Extra cover for activities that are commonly excluded from standard policies, such as jet skiing or extreme sports.

Also make sure that you will be covered if you currently suffer from any ill health or ailment.

Your policy may cover you for extras such as:

• Personal accident cover
• Legal expenses cover
• Financial protection if your airline goes bankrupt before or during your trip.

Currency Converters, Loans and Credit Cards

Before you head off on your holiday you'll want to sort out money. Take a look at how much your pound or dollar will get you by using a currency converter first. You may also want to do a little research into the town or city you're travelling to so you can properly budget for each day of your trip. Especially important if you're off travelling for a year!

Haven't got enough in your bank account? Maybe look into taking out a Loan or applying for a credit card. Credit cards are also great for travelling. Look for one with a cheap exchange rate and added overseas insurance so you can use for payments in stores and restaurants. Compare loan amounts with our loan comparison tool.

Travel Money

Decided how much you need? Then start shopping around for the best exchange rates. You can get travel money from Marks and Spencer, The Post Office or travel agents online and in the high street. Maybe you want to wait until you're at the airport just make sure you read our travel money reviews first. Then you need to choose if you want to take Travellers cheques, travel money, a pre paid travel money card or a combination.

Traveller's cheques:

Traveller's cheques are often regarded the safest option for taking money abroad. You can buy large amount of foreign currency for your holiday but not have to carry the cash with you. You exchange the cheques as and when you need them. When you receive your cheques you sign them and once you come to exchange them for currency you have to sign again in front of a cashier. The peace of mind with Traveller's cheques is if they are lost or stolen you can report them and receive replacements. Just remember to make a note of the cheque numbers and keep this separate from the cheques. Read Traveller's cheque reviews.

Travel money:

It is always a good idea to take a little cash with you in small denominations to allow you to pay for possible bus or taxi fares or just for food or drink once you arrive at your destination. It's always a good idea to get familiar with the types of currency you'll be dealing with before you go so you know roughly how much you're handing over for that can of drink at the airport! Read travel money reviews.

Travel money card:

Travel money cards are still relatively new but look to become the 'new' traveller's cheques. They work in a very similar way. You buy a prepaid card with a designated amount of currency and they can be used like a debit card. Like Traveller's cheques if the card is lost or stolen you can report it and get a replacement. This is a good option if you are worried about using your bank or credit card abroad.

Using your credit or debit card abroad

Before you go check with your bank or credit card company if you'll be charged extra for taking cash out at ATM's abroad or making card payments in stores or restaurants. Sometimes it can work out cheaper to take out money at an ATM abroad if the exchange rate is better. But keep in mind if you lose your card or it gets stolen then you might have no other way of getting money out. Some banks now offer extra insurance and have replacement schemes for your cards so it's worth popping into your local branch or giving them a ring. Read credit and debit card reviews from customers to help you further.

Security

Always keep a note of all your valuables when you are travelling. It's a good idea to give a copy to a close friend or relative in case of emergency. Here are some things you should make a note of:

• Passport number (plus take a photocopy of your passport and any other important travel documents)
• Credit card or debit card number and contact phone number
• Travel insurance policy number and contact details
• Next of kin details
• Driving license (if taking)
• Travellers cheque numbers
• Contact details for your Embassy at home (just in case)
• Health insurance (if necessary)