Mo money, mo mojitos: Travel money musts for Schoolies 2017

As year 12 students around the country enter the last stretch of their final exams, thoughts will soon be turning to celebrating their new found freedom which, for many, means just one thing - Schoolies 2017.

For thousands of Aussie teens their Schoolies trips will be an overseas travel adventure, with an increasing number of 17 and 18-year-olds heading out of the country to tropical hot spots such as Indonesia, Thailand and Fiji.

In fact, travel insurer Allianz Travel recorded a 63% increase in the number of of young Australians who took out travel insurance to Indonesia over the 2015-2016 Schoolies period.

But for many revellers, this will be their first overseas adventure, and with accommodation, food, activities and perhaps the occasional drink to pay for, it raises the question - which is the best way to pay while on an overseas Schoolies trip?

RELATED: Travel Money 101 - the Mozo guide to jetset spending

Thankfully there are plenty of travel money options for young Aussie travellers to choose from including travel debit cards, prepaid travel cards and good old cash, but the right option for your own adventure could depend on a number of factors.

So read on below for a few handy tips on some of the top travel money choices for your overseas Schoolies adventure, or check out the Mozo travel money hub to compare a range of travel money options for yourself.   

Schoolies 2017 overseas travel money options

Travel debit cards: For Aussie teens heading to a country like Thailand, a travel debit card could be a good payment option - especially if you’re going to be based in a town or city with plenty of ATMs or card payment facilities. Travel debit cards act just like normal debit cards, but the best often feature travel benefits such as fee-free ATM withdrawals and low currency conversion rates.   

Prepaid travel cards: If you’ve booked a trip that features more than one country, a prepaid travel card could be a convenient option given that it can be loaded up with multiple currencies. The only thing to bear in mind with prepaid travel cards is that you may have to pay an extra charge to recover any of the funds that are remaining on the card after the trip.

Foreign currency: An island destination like Fiji may be an appealing option, but with island life comes the pain of not having easy access to ATMs. So while it’s always a good idea to have a bit of foreign currency with you anyway, it becomes even more important in remote settings. Just remember that it’s always a good idea to shop around for currency before you leave, because airports are notorious for charging higher rates.