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Spending money??

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London, United...
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Spending money??

Hi Everyone,

Just after a quick question.

I'm visiting Sydney in October on a 22 Day long trip to Australia to visit some family

I was wondering if anyone could advise me of what sort of money i should aim to take? (My accommodation has already been paid for)

My whole pan for this trip is as followed

18 Days in sydney

4 Days on the Sunshine Coast

I'v been trying to work this out in my head does $3500 AUD Seem enough?

Any advice would be great!

Thanks

Adam

London, United...
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11. Re: Spending money??

Just to clarify i plan to take all my money on a cash passport. As the fee's with to withdraw look minimal

Adelaide, Australia
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12. Re: Spending money??

Adam, hi...I would say that 3.5 G is plenty...im wonder7ng how you are getting to the sunshine coast and back, flying is best so purchase that asap to get the lowest fare. Then as you say do some of your own meals, take a fruit basket to your relies, buy the milk and bread, a box of chocs, that sort of thing to contribute. When I travel around aust I find going out for lunch is a big saving on the dinner prices, and taking packed lunch saves on day trips. Relies will probably be taking you places, so shout them an entry fee or afternoon tea to say thankyou...

.thats heaps of money honey♡

London, United...
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13. Re: Spending money??

Excellent thanks for the reply :-)

I'v already booked up virgin Australia flights from SYD - Sunshine coast to allow me to get the best possible price :-)

Sydney, Australia
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14. Re: Spending money??

@Littlebroad - the cash passport is almost certainly an expensive way to bring money, compared to the ATM card offered by your normal bank account. Have you compared the "spread" or difference between buy and sell rates? For example right now it seems that Travelex UK is selling AUD at 1.783 (for 1 GBP). The interbank rate (Citibank via Google) is 1.83. So for 1000 GBP, you would get $1783 AUD instead of $1830. That means Travelex is charging about $52 AUD on this transaction, or 3%, despite advertising no commission.

Now the cash passport also charges at least 2% of your value when you load it, depending on the method used. So when added to the above spread you come to 5% or more.

If you do use the cash passport, watch out for large pre-authorizations as they can take many days to settle. It is best to use a "real" credit card for pre-authorizations, such as reserving hotels/rental cars. Only use the cash passport to settle your account at the end when the amount is finalized.

I do see that Travelex offers something called the "Cash Passport Globe" which has a flat 2.49% fee (without reload fees) and uses the Mastercard daily exchange rate (which is close to the interbank rate usually). That looks like it might be an okay deal ( travelex.co.uk/uk/cash-passport-globe.aspx ). But this is only available online and is not the standard cash passport you see advertised heavily.

Edited: 20 March 2014, 23:26
Sydney
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15. Re: Spending money??

I think 3.5K is ok if you do a combination of self-catering and dining out several times a week. The $100/day is a good rough budget to have. Sydney is not cheap. Depending on where you go, a lunch easily set you back $20. For transport you can get a MyMulti if you plan on taking the train many times. Other than that, if you plan on doing any sightseeing or shopping, $3.5K will be gone rather quickly. I personally prefer using credit cards for purchases. Alternatively you can bring pounds and change it as you need.

Melbourne, Australia
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16. Re: Spending money??

>>>Alternatively you can bring pounds and change it as you need<<<

Did you read any of the posts above? We've just spent half a dozen posts telling him not to bring cash.

17. Re: Spending money??

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