Should we buy any local currency before we go?

Seems straight forward but it can be subjective and vary a lot depending on what you value most and your resources. In the Czech Rep, Hungary, Austria, Slovakia, Slovenia you can without much worry use your credit cards at most tourist and upscale sales outlets, restaurants, etc. You can also use your ATM card or Debit Card at the ATM machines which are at least as common as in the US if not more common. Since I value my time and stress free convenience pretty highly when on vacation I will enter a new country with some local currency. At least $100. To purchase that $100 in the U.S. will cost you maybe 10% more than having purchased it in country. But this way I always have some cash in my pocket that I know I can use immediately. Then I keep an eye open for ATM machines and use them as needed, but my prime source of spending money is my credit card. I've never gotten better exchange rates than those that I get with my credit and ATM cards. But with my cards I don't pay a foreign transaction fee and I have come to realize that my situation is not the most common. Check with your bank as I understand foreign transaction fees can be 3% to 6%. Still this way I come home with very little Monopoly Money or I don't lose when it changed back to dollars or the next currency down the road; which is a savings that might even be seen to offset the transaction fees. You know, if I did pay a 3% fee I don't think I would change my method much.

I also carry an undisclosed sum of US Dollars, Euros and Pounds in an undisclosed location in the event I get robbed of my cards, etc. I also make sure my wife carries cards with different numbers so I can cancel one if lost and still have the other. The most expensive place to change money is the hotel, but I have done this too when it was the only convenient thing to do and I had a special day ahead. Basically I go to have fun and not count pennies. When I have to do that then I am planning a trip I really can't afford. The latest reports are that your ATM card will not work in Bulgaria and Romania. I did use my credit card in both countries a few years back with no problems. I have no idea about Croatia but my sense is that it won't be a problem, but double check me on it. Finally, if your pocket is heavy with foreign cash and you happen to be in a church there is another great exchange method. Have a great trip in Central Europe!! You are going to see some fabulous places.

I just carry $200 or so in US currency when I fly to Europe. I figure that I can always convert it if I need to. But in many years of traveling to Europe, I've never had to use it. That's because I've never had any problem obtaining local currency from ATM's anywhere in Europe, including rural areas. Maybe I've been lucky, but that's been my experience.

Tom, you are exactly correct. Like I said its sort of subjective. In 10 years of fairly regular trips to some pretty obscure places I've never used the emergency cash and the local currency that i got in the states never became more than a casual convenience for things like a taxi or snacks at the train station. Still i feel better carrying it, much in the same way i carry duct tape.

James & Tom, Thanks to you both for all the helpful (and prompt) information. I think we will be getting some Czech currency and taking some US Dollars. From there on, we will just trust that we will be able to exchange what we need. We too like to use our credit cards, easier and cheaper. But, as we know - there are places and occasions where cash is needed. Our debit cards do have higher fees than I would like. Thanks again!
Jim Zazzera

Keep in mind that Central Europe is a somewhat less expensive than Western Europe. My guess is that if RS lives up to his reputation you will spend most of your time off the main tourist track which will also save you some money. Lovely part of the world. Have fun.

James, you carry duct tape on vacation?

I went on that tour a couple of years ago and didn't get any money until I landed in Prague. The guide handed out an itinerary and for each country, she indicated what she thought you would need in currency for each country. She was very accurate and we always stopped as we were leaving one country to get coffee or snacks so that everyone could use up any change they may have. Then, when we arrived in the new country she pointed out where there were ATMs or banks. Only once, did I exchange some left over money and because it was such a small amount, I think I lost 30 cents on the deal.

you carry duct tape on vacation? always have a small roll along. It has been invaluable many times. Doesn't everybody?

I thought everyone carried duct tape on vacation. Noooooo????

Hi Jim,
We had the same question when we went to Hungary, Budapest in August. We traveled with friends who travel a lot in Europe. We found there are money exchanges right after you get off the plane, and it was the best rate we found in all of Budapest!!

Judy, I'm happy you did so well at the airport. Good rates didn't use to be the case at the airport. I'd suggest if people are going to change much money overseas that they check the rates online and use it as a guide when looking for a place to change. You will never do as good as the rates you see on line but you should come within maybe five percent.

And here is Risk Steves take on the subject http://www.ricksteves.com/plan/tips/money-travel-tips.htm

Jim - do you know who your guide is? If Peter P., he gives you a detailed itinerary on the first day with suggested dollar amounts for each country, and also advises when and where to change money. ATMs are prevalent and currency exchanges are most places. If you did nothing but show up with an ATM card you would be fine. I personally like having some local currency to start with, and before I took the E. Europe tour this year, I got some for each country. I tried to guess how much I'd need in each place and was woefully wrong (not enough Czech, wayyyyy to much Polish and Croatian, just about enough Hungarian). The best thing I did before I left was print out "cheat sheets" for each currency ahead of time (try http://www.oanda.com/currency/travel-exchange-rates) so I could quickly see about what I was paying. Switching currencies every few days was pretty confusing!

I look for mindless conversion techniques that are approximate enough for my world. Like euros to dollars just add a third. So 45 euro = 45 plus a third more or $60. For Hungarian Forints drop two zeros and divide by two. 100 Czech Koruna is 5 bucks. Okay its all pretty rough but for me its easier than a cheat sheet. Just a suggestion.