Several Financial Considerations on Caribbean Travel

A holiday in the Caribbean Islands is indeed one of life’s unforgettable moments. The azure waters, beaches, the white sands, and the best hotels present in these islands makes it one of the best destinations for holidays in the world.  The Caribbean Islands consist of many islands that are under the control of different countries such as the United States of America, Colombia, France, the United Kingdom, and some more. Some of the island are well-known to many travelers such as Cuba, Aruba, Puerto Rico, Barbados, and the Bahamas while some others are less known and therefore less visited.  Nevertheless, Cuba is one of the largest islands that make up the Caribbean Islands and has several attraction sites. Due to the unique situation in Cuba, interested travelers need to understand the best way to enjoy their time, adhere to foreign policies, and still save money. Some of the key tips on spending money in Caribbean include:

  1. Compare Costs Before Booking

While comparison shopping takes more effort upfront, it will help you find the cheapest prices before you book your vacation. It is therefore advisable that you carry out enough research on the destinations where you intend to spend your holiday in the Caribbean.

  1. Evaluate the Exchange Rate

The rate keeps on changing depending on the currency you are using. For example, Cuba has a special currency for tourists known as Cuban Convertible Pesos; other islands may have different currency options, which is more of a reason to be aware of how your money is being spent. Knowing the exchange rate for each island will help you know the total amount you will receive after the conversion, and whether you have enough for the places you plan to visit.

cuba money

  1. Look for Package Deals

Package deals are normally cheaper and will save you some cash, but in some cases you may accidentally pay for more than you need. Search for a package deal that works best for you, while keeping in mind the budget you have in place. Make sure you compare any deal you fine to the individual prices of each element if you were to book your package separately. One of the nice advantages of a package deal is that you don’t have to haggle and hassle with several bookings and establishments to create a complete holiday.

  1. Obtain an International Credit Card or Use the ATM

When traveling in the Caribbean, especially in Cuba, an international credit card is more cost-effective since it helps you do away with the exchange rate expenses, and at the same time it gives you the relief of not walking around with cash.

Credit cards are accepted in a majority of places in the Caribbean and will help you have control over your spending. It is highly recommended to check if the area accepts credit cards before you obtain them so you can make sure you have the money to meet your travel needs.

Using your credit card or an ATM can help you avoid transaction costs and currency exchange expenses.

  1. Look for Freebies

There are always some tour and travel companies in the Caribbean that offer freebies. Looking at such offers will help you have access to some of the basic things. This ends up in saving you some cash while you enjoy the beautiful blue mountains of the Caribbean.

  1. Haggle for Lower Prices 

Haggling helps you get the best prices, but it is only available on few travel and tour companies. However, it doesn’t hurt to try to haggle since it may help control your travel budget in the Caribbean since you may end up paying less for a service than what you planned for.

cuba markets

  1. Bring Cash — Better U.S. Dollars

The U.S. dollar is accepted in most places in the Caribbean, but in Cuba you must convert your money to the local currencies. In Cuba you’ll be using cash for most everything, since most places will not accept your credit card.  Keep in mind that Cuba has dual currency. The CUP (Peso Cubano) is used by the locals, while the CUC (Peso Convertible) is used by tourists only.

In conclusion, make sure that the credit card you plan to use is acceptable internationally and that you have informed your bank in advance about your travel plans to avoid financial frustrations related to transactions. However, with the above tips on spending, you are ready for your holiday in the Caribbean. Enjoy!


Related post:   Travel Savings for the Summer

Images credit (under CC) by order:  Luca Mogliadawn =^..^=Travel Aficionado

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