When travelling, the last thing you want to do is do mental math as you're trying to figure out how to convert the price tag to your home currency. How much do you divide this by? How much do you multiply? Do I add a little on top or subtract a little? Travel problems am I right? That's why when I discovered Oanda's currency cheat sheet (what used to be the fxCheatSheet), I've added it to my small little tool belt of travel hacks for every trip I go on.
Here's a quick bit on what this really simple tool is and how you should take advantage of it to make your life easier when you're on vacation.
Quick cheat sheets on currency exchange are a must-have while travelling
How I first discovered the Oanda currency cheat sheet for travelers
Alright this is a really basic one that I discovered while planning for my trip to Asia. Truth be told I am terrible at figuring out how much stuff costs in Canadian dollars when I'm out travelling unless it's something like “divide by 10”.
On top of that often times it's not enough to know the rates on XE because those are rates you'll never be able to get with your bank or credit card.
Using the currency cheat sheet
I really haven't found anything else like this in the market but there's a foreign exchange (forex) company online called Oanda that does basically what any other tool out there does which is to show you current exchange rates except they have nifty tools designed for the traveller.
Introducing the Oanda fxCheatSheet.
Today, it looks a little bit refreshed and this is the page that you'll land on. Make sure to click on the “Traveler's Cheatsheet” tab.
Set your interbank rate: This is what makes Oanda unique. If you're using credit card quite a bit, I'd recommend setting this to 3%. Otherwise 2% should be the standard.
Once you're happy with the currency you've selected and your interbank rate, all you have to do is click on “print a copy” and it'll print the whole page for you.
Yes it's slightly annoying that the printed page has everything else on it but you can't do anything about it.
Tip: I've noticed that the “print a copy” link is a quite finicky. It's not consistent at all because it'll work and then it'll stop working and just redirect you back to the same page. What I find works is to change the variables like the interbank rate and date. That always seems to force it print functionality to work the next go around.
Why I like this printable pocket size currency converter
Call me old school but it's nice to be able to pull this cheat sheet from your wallet and get a quick reference for how much something really costs.
And that's it! Is there a special tip that you have for currency conversion while travelling? What are your thoughts between paper versus app? Drop a comment down below!