Planning a holiday and worried about your spending options? Martin Lewis has shared some great advice on making the most of your holiday cash, especially if you’re an 18-year-old heading on a lads’ getaway.
In a question posed to Martin, a concerned mum asked about the best spending card for her son. She was wary about handing him a credit card, but with the trip’s accommodation asking for a £300 credit card deposit, she needed a solution.
Martin’s top pick? The Chase card. It’s a debit card linked to a bank account that anyone over 18 can open through an app. It’s perfect because you load it with the money you want to spend, and it offers a near-perfect exchange rate without additional fees—no overdraft or hard credit checks!
Another option from Martin is the Revolut pre-payment card, where you can load a specific amount. But when it comes to credit card deposits, an 18-year-old may find it tricky due to the potential difficulty in passing credit checks. Martin suggests parents possibly handling this for their kids.
Martin also shared a caution for younger travellers: “Alcohol can cloud judgment, making budgeting tricky. Bringing enough cash for the day could help keep spending in check, but it can also lead to being stuck if funds run out. Conversely, an unlimited card might tempt overspending. Ultimately, the key is to drink responsibly and plan wisely.”
Whether you’re loading a Chase card or opting for a Revolut, make sure you have a budget plan in place. Being sensible with your finances will ensure your holiday is memorable for all the right reasons! 🏖️✈️