How to Spend Your Leftover FOREX

Reading Time: 6 minutes

Turn Yesterday’s Forex into Tomorrow’s Gift

They say good things come in threes. That might be the case for you as well. First, you may have completed a fantastic international trip. Second, you reach home and realise that you have extra forex on your hand. So, now just the third bit of good luck remains – namely, what you will do with that extra forex.

Think about it. Most of us tend to pad our budget. It’s no fun going abroad and speedily running out of money during the first half of the trip. However, trips can turn out to be more economical than you imagine, and regardless of whether it is a small or big amount of foreign currency, you can take advantage of it.

So, today, let’s look at the advantages of having leftover forex from your trip and where you can spend it.

Save it:

You may love a particular country for a reason – perhaps you have friends and family residing there, maybe you’re drawn to the culture and charm of the place, or you have business to conduct there. So, if you do have forex on your hands, sometimes the wise thing to do is simply to save it for the next trip. This way, you won’t need to save as much as you did the last time. Keep it loaded on a prepaid forex card, or if it’s a small amount, in your wallet. You could use it for a big-ticket purchase on your next trip, or simply to tip a waiter or pay for a cab. Never underestimate the value of a few currency notes in your wallet – you’ll find a way to spend it. If you’ve been on multiple trips and have different currencies saved up, you can use that as an indicator of which country you want to return to.

Shop at Duty Free:

If you’re lucky to have leftover forex on you when you’re leaving the country, then why not take advantage of the moment and wander into the airport’s Duty Free? This can have multiple advantages – you can buy a great perfume or liquor that you’d like to take home. Or, if you’ve forgotten to buy gifts for friends and family in the rush of your trip, you can buy their presents at Duty Free. Do note, that some countries that are experiencing high inflation might not accept your forex (except for global currencies like the dollar) at Duty Free. Make sure your money is eligible before you stock up on all your purchases.

Donate to Charity:

You’ve been having a streak of good luck. Why not pass that on to someone who isn’t so fortunate? Many international flights are part of UNICEF’s “Change for Good” programme. You can donate as much forex as you want on your flight; dropping it into the envelope that flight attendants pass around. If you missed your opportunity on your flight, don’t worry! Many airports have similar programmes and initiatives to raise money for charitable causes across the world. You just need to keep a sharp eye out for any collection box where you can drop off your forex.

Spend it on your Hotel Bill:

On your way to the airport, you may discover that your wallet is a little fuller than you anticipated. If you’re anxious about carrying so much cash on you, why not use it to settle your hotel bill? Many hotels allow guests to pay part of their hotel bill through cash, and the rest through their card. Remember to keep just enough for a cab ride to the airport or a final meal or purchase you need to complete before you leave. Remember, it may be good to offload the burden on your wallet, but it isn’t wise to travel without any cash on hand.

Suggested Read : Great tips for buying Forex while travelling

Sell or Gift it to Family and Friends:

 

You may not be the only member of your family or your friend circle who loves to travel. If you’d like to share the wealth, why not sell or gift someone with your leftover forex? If you’re selling the forex, make sure you come up with a rate that is comfortable for both parties. If you’d like to avoid that awkward situation, you can always just gift it. Popular currencies like the dollar and the Euro are accepted in many countries, so if you have any leftover forex in these currencies, it would really help your fellow explorers. You can also register on an online forex trading platform and sell foreign currency online

Airport Treat with Leftover FOREX:

After a holiday like yours, its natural to want to keep the good times going. If you have just enough forex to buy a small keepsake at the airport, or to treat yourself to a small meal or drink, go for it! This is a great way to spend what little forex is left from your trip. If you do have a large amount of coins on hand, leave them as a tip for the waiter at the airport restaurant.

Global Holiday, Local Trip:

One of the most obvious options is to simply sell your excess forex (and we’ll get to that presently). This tip goes beyond simply selling your forex. Once you’ve received your cash from the sale, why not put that money towards a second trip? This time, though, you can make it a local trip. Perhaps to a small hill station near your city or a quick beach trip. Pick a local holiday spot that won’t burden your wallet and convert the benefits of the first trip into a second one.

Decorate your Home with Leftover FOREX:

This tip is specifically for coins. If you find yourself with coins from different currencies, you can frame them or turn them into magnets for your fridge. Either way, it’s a great keepsake from your travels and is a testament to how many places you have visited!

Sell your Forex at Thomas Cook

Foreign currencies fluctuate all the time. Sometimes the value of the currency you hold can rise significantly. It’s at those times when it’s prudent to sell forex currency and make an additional profit. Want to know how you can do this? By following 4 simple steps on the Thomas Cook website.

1. Choose your currency and the desired amount
2. Enter your details and delivery option (home delivery or branch pickup). You can also pay 4% to block a desirable exchange rate
3. Make your payment online
4. Receive your order confirmation

You can opt for cash or a bank transfer and it will be seamlessly delivered to you!

So, now that you’ve got some money on hand – what will you do next?