Budgeting for your cruise

[Project_gal]

If, like us, you cruise in areas of the world new to you, you probably face the same problem as I do. How do you budget for expenses when you are off the ship, especially where you would prefer not to use your credit or debit cards.

 

I have just found what appears to be a very useful website: http://www.numbeo.com/cost-of-living The figures given seem to be similar to those I have managed to find by other means and it sure beats trying to search for the information any other way.

[Yorkshire-Pudding]

I am currently on holiday in Japan and would advise watching currency exchange rates both historical peaks and current rates. We regularly purchase currency in batches as and when favourable in dollars and Euro. On cruises we find checking conversion rates useful. Right now Celebrity's rates for on board credits from UK Sterling to US dollar is better than available in UK.

 

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[Project_gal]

I am currently on holiday in Japan and would advise watching currency exchange rates both historical peaks and current rates. We regularly purchase currency in batches as and when favourable in dollars and Euro. On cruises we find checking conversion rates useful. Right now Celebrity's rates for on board credits from UK Sterling to US dollar is better than available in UK.

 

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I can only agree. I have checked the US$ exchange rate every week day since 2009. It is also true that the exchange rate offered for OBC by Celebrity [and also the exchange rate used by them for pre-booked excursions, specialty dining, etc.] can be extremely favourable. Buying at the right time [whether cash or Celebrity enhancements] can save you money. Of course, nothing is infallible. If it was, I would be a millionaire!

[leswor]

I am currently on holiday in Japan and would advise watching currency exchange rates both historical peaks and current rates. We regularly purchase currency in batches as and when favourable in dollars and Euro. On cruises we find checking conversion rates useful. Right now Celebrity's rates for on board credits from UK Sterling to US dollar is better than available in UK.

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Sorry if this is a stupid question but are you saying you can buy on board credits in UK in £'s which they exchange into dollars? If so how do you do that?

[sharton]

Sorry if this is a stupid question but are you saying you can buy on board credits in UK in £'s which they exchange into dollars? If so how do you do that?

 

Yes you can buy in £'s and they convert to dollars. Currently I believe £15.20 approx converts to $25. One quantity of OBC = $25. I have found the best way is to call Celebrity UK customer Service. I have done it online on their website under gifts by Celebrity. But payment either takes months to show up or an error message comes up! I did it a couple of weeks ago over the phone and they were very helpful and emailed me confirmation immediately.

[Happy Cruiser 6143]

I can see why you would not want to use a debit card off the ship (or on the ship, for that matter). But I'm confused about why you don't want to use a credit card off the ship. To me that's the best way to pay for things off the ship. Just be sure you have a credit card that doesn't charge a foreign currency conversion surcharge.

 

[Project_gal]

I can see why you would not want to use a debit card off the ship (or on the ship, for that matter). But I'm confused about why you don't want to use a credit card off the ship. To me that's the best way to pay for things off the ship. Just be sure you have a credit card that doesn't charge a foreign currency conversion surcharge.

 

 

I am sorry but I still get nervous in using my debit/credit card is some areas of the world - starting with the USA where they are yet to adopt chip and pin.

 

In addition, card fraud detection has advanced in the UK to the level where they no longer rely on you telling them where you are travelling [that does nothing to stop fraud on your card in the most likely place - the place you are travelling to] and we are more likely to receive an automated telephone call if any unusual activity is detected. We get these calls frequently at home but if I miss the call for any reason, it is not a huge problem to sort out. If I am just out shopping at home, it is often easier to wait until I am home to deal with it. I would rather not deal with that overseas.

Edited July 5, 2014 by Project_gal

[woodyren]

We have a card in Australia "Citybank Visa Debit Card" that allows you to load up cash in Aussie dollars and you just withdraw local currency as needed. It gives a rate as close as they get to the published forex exchange rate. It has no forex exchange fees and if you use a Citybank affiliated ATM of which there are plenty there are also no ATM fees.

Edited July 5, 2014 by woodyren

[Yorkshire-Pudding]

With UK interest rates so low we just keep some foreign currency on hand . If it ever gets close to $2 to the UK sterling again it will be like Christmas all over again.

 

Leswor hope your question answered.

 

Project gal you may want to consider a prepaid currency card which you load with currency and use like a credit card. Most are Mastercard with variety of providers. You need to check conversion rate as this can vary. I personally have used one on holiday in Australia . While it was generally accepted for purchasing you paid commission for cash withdrawal which varied considerably.

 

Appreciate you don't want to use credit or debit card but when my DH turned 50 last year he got a Saga credit card. They don't charge currency conversion loading unlike nearly every other UK financial institution.

 

As we travel around Japan we are using mix of cash and Saga. Money is kept in room safe and we draw out sum each day each. If we spend more then credit card. Also we pre book all tours before travelling and pay in UK sterling using an intermediary company again reducing foreign exchange.

[Project_gal]

Project gal you may want to consider a prepaid currency card which you load with currency and use like a credit card. Most are Mastercard with variety of providers. You need to check conversion rate as this can vary. I personally have used one on holiday in Australia . While it was generally accepted for purchasing you paid commission for cash withdrawal which varied considerably.

 

I worked for the company that introduced the first pre-paid card in this country at the time and there was a great deal I did not like about them. None of the employees at the time thought that they were a good idea generally. I accept that T&Cs may have changed radically since but I have not investigated.

 

However, the whole point of this thread was not whether or not credit/debit cards are used but, rather, budgeting for overseas visits and a website I found useful for doing this.

 

I cannot believe that even those who charge everything to their credit card do not want to have some idea how much they are likely to spend in advance.

[Jane2357]

I am with Happy Cruiser 6143 - we prefer our credit card - they provide the best service especially if there is any type of issue with a purchase. We will carry some cash in the proper currency and we NEVER use a debit card - never ever abroad or at home.

[Yorkshire-Pudding]

Project gal To answer your intended question.

 

We start at equivalent of £100 ($160) per day in local currency for 2 adults and a teen. This is based on typical spend in central London. I adjust this upwards if country is particularly expensive. This is to cover soft drinks, water, snacks and lunch when off ship. Does not cover excursions or on board spend. Souvenirs or other adhoc spending would be in addition to this.

[Happy Cruiser 6143]

I am sorry but I still get nervous in using my debit/credit card is some areas of the world - starting with the USA where they are yet to adopt chip and pin.

 

In addition, card fraud detection has advanced in the UK to the level where they no longer rely on you telling them where you are travelling [that does nothing to stop fraud on your card in the most likely place - the place you are travelling to] and we are more likely to receive an automated telephone call if any unusual activity is detected. We get these calls frequently at home but if I miss the call for any reason, it is not a huge problem to sort out. If I am just out shopping at home, it is often easier to wait until I am home to deal with it. I would rather not deal with that overseas.

 

I agree absolutely on the debit card. No protection. Never use mine except for identification at my bank or to get cash from an ATM. In safe areas only.

 

As for credit cards, you just haven't found the right one yet. American Express does not charge a foreign currency surcharge and does not require me to call them before I travel. They do catch attempted fraud and call me if a problem. Protections may be different in the UK, but I have no liability for fraud on any of my US credit cards.

 

I think others have answered the budget question.

 

[fleckle]

If, like us, you cruise in areas of the world new to you, you probably face the same problem as I do. How do you budget for expenses when you are off the ship, especially where you would prefer not to use your credit or debit cards.

We have an additional credit card that does not charge a fee for foreign currency conversion that we obtained specifically for that purpose, to use for small purchases off the ship.

 

We deliberately set a low limit on it, so that even if the card should be compromised or we are robbed, the thief could not steal a huge amount, and we would not lose even a penny.

 

It is very convenient on cruises that hit ports where multiple currencies are involved (like Northern Europe - Baltics) because we are not stuck with needing to convert money and then carry around change in several different currencies, especially if it is a country where we will only be spending one day.

 

If necessary, we figure we can always cancel that card, and it does not touch our regular credit cards or bank account.

We have been using it for a couple of years for all sorts of purchases in different ports and have not had a problem yet (keeping our fingers crossed).

 

I really like that we can even stop for a snack at a small cafe in a foreign town without needing to bother with foreign currency conversion.

The charges show up on our credit card statement at the going exchange rate for that day.

 

[waterbug123]

How do you budget for expenses when you are off the ship, especially where you would prefer not to use your credit or debit cards.

 

 

However, the whole point of this thread was not whether or not credit/debit cards are used but, rather, budgeting for overseas visits and a website I found useful for doing this.

 

I cannot believe that even those who charge everything to their credit card do not want to have some idea how much they are likely to spend in advance.

 

How do I budget? We look at the ports we're visiting and decide what, if anything, we want to do while in port. Then we estimate what that will cost. There is no website in the world that can tell me better than I can tell myself how much I plan to spend, so I'm not sure what the purpose of a budget planning website is. :confused: I mean, a website might say, I suppose, budget $200 for such and such port. That's great, but what are they assuming I will buy? What if all I plan to do is have a light lunch and a beer? Maybe I'm not understanding your question because I think budgeting is a pretty simple matter of deciding what you will do in port? Will you be getting a meal or drinks? Doing an excursion? Buying a cheap souvenir or shopping for something expensive? You know the answers to those questions better than any website.

[Project_gal]

Meg

 

I do not think that you have looked at the website I posted because it will help you do exactly what you want to do. It gives both the average and range of prices for items of expenditure as a modest meal, a three course meal, a coffee, a taxi journey, etc. for a huge number of cities around the world. It also warns where they have little data and suggest that you look at the national data instead.

[ECCruise]

As for credit cards, you just haven't found the right one yet. American Express does not charge a foreign currency surcharge and does not require me to call them before I travel.

 

 

This is definitely NOT always the case. Virtually all AMEX cards below Platinum (Green, Gold, etc.) and a handful of Affinity cards DO charge a currency transaction fee. It is the main reason why we switched to Chase Platinum Preferred since we were paying hundreds of dollars in transaction fees to AMEX.

[Happy Cruiser 6143]

This is definitely NOT always the case. Virtually all AMEX cards below Platinum (Green, Gold, etc.) and a handful of Affinity cards DO charge a currency transaction fee. It is the main reason why we switched to Chase Platinum Preferred since we were paying hundreds of dollars in transaction fees to AMEX.

 

Well, I have a gold AmEx and they do not charge currency transaction fees. CapitalOne cards also charge no currency transaction fees.

[waterbug123]

Meg

 

I do not think that you have looked at the website I posted because it will help you do exactly what you want to do. It gives both the average and range of prices for items of expenditure as a modest meal, a three course meal, a coffee, a taxi journey, etc. for a huge number of cities around the world. It also warns where they have little data and suggest that you look at the national data instead.

 

You're correct, I did not look at it so misunderstood. That said, my experience is that such "averages" can vary greatly, and thus still may not give you a very good read on what you will spend. For the most part, I simply find that the "average" price of a beer, casual lunch, coffee etc. don't vary enough from port to port to worry about specifically budgeting for each one separately. It also helps that we don't worry about budgeting our trips down to the penny, either. That would take a lot of the fun and spontaneity out of it I guess if a person isn't well traveled, a site like that could be better than nothing though. Enjoy!

[olemissreb]

I agree absolutely on the debit card. No protection. Never use mine except for identification at my bank or to get cash from an ATM. In safe areas only.

 

As for credit cards, you just haven't found the right one yet. American Express does not charge a foreign currency surcharge and does not require me to call them before I travel. They do catch attempted fraud and call me if a problem. Protections may be different in the UK, but I have no liability for fraud on any of my US credit cards.

 

I think others have answered the budget question.

 

 

What kind of AMEX card do you have? My DH and I have AMEX Blue and they charge a foreign currency surcharge. My DH travels overseas fairly often for business and while we like the cash back option on our AMEX, if he at least can get one that doesn't charge the surcharge, that would be great!

 

EDIT: Guess I should have read further before posting as my question has now been answered. THANKS!

Edited July 7, 2014 by olemissreb

[fleckle]

Well, I have a gold AmEx and they do not charge currency transaction fees. CapitalOne cards also charge no currency transaction fees.

Furthermore, an additional advantage of using such a credit card is that it eliminates the need to "budget" for expenses when you are off the ship, as expressed by the OP.

 

No nuisance of trying to estimate in advance just how much foreign currency you will need at each port.

No getting stuck either needing to convert back what is left over, or looking for a place to convert more money if you underestimated initially.

 

It would take away the delight and spontaneity of discovery for us if we needed to budget closely in advance for each port.

 

No telling when some appealing attraction or opportunity may come up that we had not planned on or even known about previously.

 

It is so much easier to pay with a credit card that is accepted almost everywhere, and additionally you have the protection of the credit card company in case of a problem.