Martin Lewis Money Saving Expert: 'Cheapest way to spend abroad' amid Brexit uncertainty
Martin Lewis, 46, is the founder of the website MoneySavingExpert.com. The journalist and TV presenter regularly appears on the small screen, offering members of the public some top tips for when it comes to their finances. During The Martin Lewis Money Show tonight, the broadcaster advised viewers on spending abroad. So, for anyone planning on travelling to Europe later this year, is it better to exchange sterling for euros now, or later?
When quizzed on the subject, Martin said that he did think that Brexit would have an effect on the exchange rate between the pound and euro.
However, the ITV regular admitted that he was unsure about what the future would look like.
He went on to explain that Britons had three options - should they be looking to visit countries with the euro currency in the future.
“Either get all of your currency now,” he began, before detailing the other choices consumers have.
Martin went on to suggest waiting until after the UK exits the European Union, or to pick up half of the currency they needed now, and half later.
The small screen favourite went on to discuss how travellers could make the most of the money while overseas.
“The cheapest way to spend abroad is on the right plastic,” he said.
So, what exactly does this mean?
The money guru explained that travel credit cards can suit travellers due to them not charging fees - unlike their everyday cards.
Martin went on to touch on some of the specialist cards’ “near-perfect” spending rates.
However, he was quick to point out that these cards can charge fees or interest on cash withdrawals.
Pointing out two options, Martin addressed the benefits of the Barclaycard Platinum Cashback Plus card.
With this card, users are not subject to fees on spending or cash withdrawals overseas, and get 0.25 per cent cashback on what they spend, up until August 31 2023.
Martin also pointed out that app-based Starling Bank offer a current account which doesn’t charge for non-sterling transactions or cash withdrawals across the world.
Earlier today, .
But, despite the impending £100 increase, the Money Saving Expert star explained that there are ways bill payers can cut the cost.
The Martin Lewis Money Show continues next Monday on ITV at 8pm.
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