I do. Apparently the folks at my bank do not. After a twenty minute discussion about preparing our finances for our three weeks abroad, my banking associate learned the following:
- The UK still uses British Pound Sterling
- Each county within the UK does not use a local form of currency
- Credit and Debit cards use micro-chips, not magnetized strips
- Small businesses prefer cash to credit and many operate with a cash only policy
I, on the other hand, am still left confused about how to proceed.
Although I lack the mathematical literary to complete complex derivatives and I have never taken a calculus course, I do have a strong grasp of personal financial literacy. It frightens the sh*t out of me when I know more than anyone who is even tangentially associated with my money. Particularly because my knowledge of financial literacy is, to paraphrase Matt Damon in Good Will Hunting, thanks to a few extra dollars in late fees to the public library; I am a self-trained Suze Orman.
For anyone reading who would like to offer advice, here are the questions I need to explore.
- How do businesses along the Coast to Coast path react to Travellers Cheques?
- Where do you think one could acquire the best exchange rate, in the States, for money conversion?
- How much cash does one typically carry on his or her person from day to day (this is a different question from how much one would spend in a day).
Feel free to leave a comment for a private message on Twitter @30WaysofWalking
Thanks in advance for your candor!