If you read your guidebook and check the Internet you can get the impression that everyone gets robbed or conned. This is not true, but if you take some basic precautions you can drastically decrease the chances of getting into trouble. Money exchangers have many ways to rip you off. ATMs really are the way to go, but if you want to use money changers here is some advice on what to look out for:

1. They can fold the bills over and count them twice

2. They can give you lots of smaller bills and drop some behind the counter. Count the money yourself in front of them. Take your time and do not feel stressed because there are other people waiting to change their money.

3. Some countries have a big problem with counterfeit money. Learn how to check that the bills are ok.

4. The money changers can charge you a huge commission which was displayed on a small screen in fine print in the back. Ask them how much you get in local currency after commission and fees for the amount you want to change before handing over any money. Changing money in a bank is usually a lot safer and the rates are normally competitive as well. Changing money at your hotel usually gives you the worst rate.

5. The cashier claims that your bills are fake and have to be confiscated. They can also switch your bills for bills which actually are counterfeit.

6. Short changing also happens (have you ever seen David Copperfield the magician? Well these guys are not far behind in their sleight-of-hand). Count the bills yourself.

7. Do not change your money in the street, it is a sure way to get ripped off.

8. I find that ATMs are usually to be the best way of getting local money. When you arrive in the airport you can normally find ATMs in the arrival hall. They are everywhere these days, the exchange rates are usually competitive and you do not risk getting short changed. Make sure that you know how much you will be charged for making withdrawals abroad first; if there is a fixed fee (and not a percentage of the amount withdrawn) it may be better to withdraw higher amounts of cash each time. You may sometimes be charged a fee from the local ATM in addition to the fee your home bank charges you. It may we worthwhile getting a special credit card with a low fee or no fee at all for withdrawing money from ATMs just to use on your travels.

9. ATMs are very convenient, but unfortunately there has been a rise in scams involving ATMs. The scam is called skimming and involves a card reader being attached on top of the normal ATM card reader. As you insert your card the information on the magnetic stripe is read and stored. When you punch your pin code it is also recorded. A duplicate card is then manufactured and with that your account can be emptied. Check that the ATM looks authentic and pull the keypad and the card reader to see if they are legit (the fake ones are sometimes attached with double adhesive tape).

10. Getting change for large bills can be quite a nuisance. Often you only get large bills when you withdraw money from ATMs but if you change money at a bank or money changer you can insist on getting change (do this before you hand over your money). Try to break large bills when possible, it is easiest in supermarkets, large stores, restaurants and hotels.

By following the above advice I hope you have a great and safe trip. I leave you with a personal experience:

Personal Experience – The Rio Rip-off

When I was in Rio de Janeiro I ran into a couple who had just gone to the beach. While one of them went swimming the other stayed on the beach watching their backpacks. A person approached from one side and asked a question. After she had answered she turned around and the bags were gone. It was a classical “one person distracts while the other one steals”. They had their money, passports and credit cards in the backpacks so it created quite some problems for them. Oh well, you live and learn :)

Happy travels!

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If you aren’t in immediate need of cash but have been contemplating getting rid of some unwanted jewelry pieces, right now is the best times to sell gold jewelry. The price of gold is higher than it has been in the last thirty years so think about whether right now is the right time to sell gold jewelry. The obvious reason you would sell gold jewelry is to earn extra money, but there are many other reasons to sell.

There are convenient reasons to sell gold jewelry but you can also have sentimental reasons. No one reason to sell gold jewelry is any better than another, but if any more than one of the following reaons sound like your situation, it is a good sign that right now is the time to sell.

1. Broken or damanged Jewelry – If you have earrings without mates, a necklace with a broken clasp or a chain that is unwearable, you think you will get them fixed, “one day.”. If you have not done it by now, will it ever happen?

You may be shocked with the huge cost of jewelry repair in this day and age. The careful dexterity required as well as the malleability of gold jewelry both means a large bill for damage repair. When you sell gold jewelry that is damaged and broken, you can use the cash you made to buy sparkling new pieces that are in pristine condition.

2. Your jewelry has gone out of style – Most folks have very distinct taste in jewelry so coming across a buyer for older, dated jewelry can be almost impossible. It can be a time-consuming, costly task to advertise for a prospect for older jewelry and there is no guarantee you will every find one.

The companies who buy scrap gold, however, are always seeking to buy , and they don’t bother about the condition or style of the jewelry. You won’t be penalized on the price just because the jewelry is out of style and old!

3. It takes time to sell gold jewelry individually. Everyone thinks that their grandfather’s antique watch or grandmother’s collection of gold pins can be sold to a antique collector or anyone else willing to pay for them. The bitter truth is that it’s very difficult to find buyers for antique jewelry pieces, and even if you have found someone willing to buy they likely will not be attracted to everything you have. By dividing up your jewelry into high-end and scrap and selling only a couple of pieces to collectors, you are lowering the amount of work you have to do. The undesirable jewelry can be sold to scrap gold buyers.

When you sell gold jewelry to a scrap gold who wants just the gold, you can get it sold all at one time for a lot of cash. All said and done, you will have cash in hand and no more antique jewelry to have to worry about.

4. The jewelry has no emotional value. Do you still have that engagement ring from an old fiance who left you at the alter or gold jewelry from an ex-spouse? To sell gold jewelry that’s associated with unhappy memories from your past can be a lot of fun. You are getting something of value from the jewelry you would rather forget. Don’t hold on to a lingering memory. Get started with a new life with some cash in your pocket.

There are as many reasons to sell gold jewelry for scrap as there are styles of jewelry. If one of the reasons above seems like a reflection of your situation, now is the time to sell gold jewelry so you can move on with your life.

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