Malaysian women are planners, especially when getting the best value for their holidays. Whether it’s stalking flight deals or building dreamy itineraries, we put in the research. But according to new data from Wise, too many travellers are skipping one major factor that can make or break their travel budget: how much local currency they get for their Ringgit.
We spend hours planning—but miss this one big thing
Wise’s recent survey revealed that nearly a third (29%) of Malaysians spend over two days comparing accommodation, 34% hunt for cheap flights, and 40% dig deep into destination research. But only 41% of respondents look into the exchange rate they’ll get once they land. That means many are choosing places where their money won’t stretch—and that’s a dealbreaker for value-conscious travellers.
A staggering 96% of Malaysians still rely on traditional money changers with poor rates, and 65% swipe their local bank cards overseas, despite 67% knowing these cards often come with sneaky foreign transaction fees up to 3%. That’s a chunk of your shopping, spa, or street food budget gone, just on fees.
For the women who know the joy of a good bargain, it’s time to add one more thing to the travel prep checklist: money management. Choose destinations where the Ringgit stretches further, and swap outdated money changers for better ones.
Maximising your money abroad
Based on the findings from this survey, here are some smart spending tips we believe every traveller should keep in mind when booking and paying for things overseas:
- Think beyond cheap flights and hotels: Value isn’t just about where your Ringgit goes further.
- Ditch cash, go digital: Digital wallets and multi-currency cards are now safer than carrying cash, especially when travelling solo.
- Hidden fees hurt more than you think: Foreign transaction fees and ATM charges can sneak up on you, especially when you’re sticking to a tight budget.
- Opt for destinations that offer more value to you: Countries like Vietnam, Indonesia, and Japan currently offer strong exchange rates on top of meaningful travel experiences.
- Your money know-how = your travel confidence: Understanding exchange rates and transaction fees means more freedom and less financial stress on the go.
- Smarter spending for group trips: Money management services like Wise make it easy to split bills and manage shared expenses abroad.
- Track your travel budget in real-time: Again, services like Wise allow you to monitor spending instantly and are perfect for spontaneous cafe hopping or unforeseen detours.
- Perfect for frequent flyers: With access to over 40 currencies, multi-currency accounts are ideal for work, solo, and wellness travel alike.
No matter where you’re headed, getting smart with your money means less stress, more experiences, and the freedom to enjoy your travels to the fullest.
