So, you’re heading to the World Scout Jamboree – an incredible adventure that will create memories to last a lifetime! But amidst the excitement of packing and planning, it’s important to consider the practical side of things, like how you’ll manage your money while abroad.
This post covers some tips and suggestions for handling your finances at the Jamboree, from budgeting to choosing the right payment methods. Remember that these are just suggestions, and you should ultimately make your own decisions based on your individual needs and circumstances.
How Much Money Should You Bring?
This is a common question with a somewhat elusive answer. While the Jamboree fee covers most of your basic needs (accommodation, food, activities), you’ll need extra money for:
- Treats and snacks: Ice cream, extra food at food houses, snacks from onsite supermarkets.
- Souvenirs: Badges, clothing, and other mementos from onsite shops at the Jamboree or in the host country.
- Emergencies: It’s always wise to have some extra cash on hand for unexpected situations.
Factors to consider:
- Your role: IST members may need more money than participants, who often have unit funds to draw on.
- Pre-event activities: If you’re attending pre-event activities, remember to factor in the cost of food and other expenses.
- Souvenir budget: Jamboree souvenirs can range from a few pounds for a badge to over £100 for branded backpacks. Consider how much you’re willing to spend.
General guidelines:
- A good starting point is around £10 per day, plus a lump sum for souvenirs and gifts.
- Think about how much you’d budget for a day trip to a major city or tourist attraction in your home country.
- If you opt for a travel card or bank account (more on that below), a young person can contact their parents for a top-up if needed.
How Should You Carry Your Money?
It’s generally recommended to use a combination of cash and cards:
- Cash: A small amount of cash is useful for emergencies and for places that may not accept cards.
- Cards: Keep the majority of your money on a card for security and convenience. You can use it for card payments or withdraw cash at ATMs as needed.
Cash Considerations
- Compare exchange rates: Use a comparison website like https://travelmoney.moneysavingexpert.com/ to find the best exchange rates for your currency. Online exchanges often offer better rates than brick-and-mortar bureaus.
- Trusted sources: Only use reputable online exchanges or well-known providers like FairFX.
- Mastercard base rate: The Mastercard base conversion rate used by many travel cards is often better than most cash exchanges, but it’s still wise to have some starting cash.
Card Options
There are several card options that offer zero-fee money transfers and competitive exchange rates:
- Pre-paid cards:
- Top up before you go.
- Useful for budgeting and tracking spending.
- Parents can often check the balance and top up remotely.
- Consider options like HyperJar Kids Card or a FairFX-linked card.
- Bank accounts with zero foreign fee cards:
- Offer easy transfers and access to funds.
- Convert currency at the Mastercard base rate at the time of transaction.
- Consider options like Starling Bank (including the Kite card for under 16s) and Monzo.
- Starling Bank: Link – Offers unlimited free ATM withdrawals worldwide.
- Starling Kite: Link – Designed for under 16s, with parental controls and no monthly ATM withdrawal limit.
- Starling Teen: Link – For 17-18 year olds.
- Monzo: Link (This link contains a £5 referral code. You get £5 free if you sign up and use the card within 30 days of signup) – Offers fee-free spending abroad, but has a monthly ATM withdrawal limit.
Comparison Table:
| Feature | Starling Bank | Monzo |
|---|---|---|
| Monthly Account Fee | Free | Free |
| Card Payments Abroad | No Fee | No Fee |
| Cash Withdrawals Abroad | No Fee (Unlimited) | Free up to £200/month outside EEA (3% fee thereafter) |
| Cash Withdrawal Limits Abroad | Up to 6 withdrawals per day (Max £300 total) | Daily limit: £200 <br> Monthly limit: £200 |
| Exchange Rate | Mastercard | Mastercard |
Choosing the Right Card:
If you’re taking some cash and don’t anticipate needing to withdraw much extra, either card will likely be suitable. However, Starling Bank offers more flexibility with its unlimited free ATM withdrawals worldwide (subject to the daily limit), while Monzo has a monthly limit. For those under 16, the Starling Kite card provides a secure and manageable option.
Cash Withdrawals at ATMs
If you need to withdraw cash from an ATM:
- Check for fees: Some ATMs charge a fee for withdrawals.
- Avoid ATM conversion fees: Choose to be charged in the local currency, not your home currency, to avoid unfavorable exchange rates.
- Withdrawal limits: Be aware of your card’s daily and monthly withdrawal limits.
- Skimming awareness: Be vigilant about card skimmers, just as you would in your home country.
JAM Money
The Jamboree may have its own payment system, such as a top-up card linked to your ID. Stay updated on the official Jamboree website for information on how this system works and how to use it.
Additional Tips for Managing Your Jamboree Finances
- Budget wisely: Plan your spending and track your expenses to avoid overspending.
- Keep your money safe: Use a money belt or secure pouch to keep your cash and cards safe.
- Inform your bank: Let your bank know your travel dates to avoid any issues with using your card abroad.
- Emergency fund: Keep a small emergency fund separate from your spending money.
By following these tips and planning ahead, you can ensure a stress-free and enjoyable Jamboree experience without worrying about your finances!