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The Book of BET: Money Matters

Last Revised: July 21, 2009
PAYMENTS: BET is a small operation, which means that I have very low overhead. Which means that I can pass the savings on to you. However, I do have pre-tour expenses, deposit deadlines for the hotels and the airlines, concert tickets to purchase months before the event. Pre payments are the only way that I can offer these trips.

You may devise any number of ways to meet the obligation. You may start monthly payments at any time. Or you can pay half when you first sign on (or seven months before the tour, whichever comes first) and then the balance no later than one month before the tour. Or you can divide the total by three or four and send it in. Whichever way you choose, all payments must be completed one month before departure.

Checks are to be made out to Barker's European Tours and sent to Sara Lewis in Seattle. You will be provided with remittance envelopes for your payments. Or you can pay through your bill pay service with your bank.

Sorry to say, but credit card payments are not accepted. The credit card companies assess a 3% or higher merchant surcharge and since my profit margin seldom exceeds 10%, I simply can't afford it. There is no surcharge for the airfare so you can use your card if a flight is included as part of the tour.

STATEMENTS: Sara will send you monthly statements where you will see a record of your payments and the balance due. My only problem with the bookkeeping program that we use is that I have yet to figure out how to keep the statement from showing that everything you owe is due. Just ignore the bottom line until I can figure out how to tell this program to lighten up. Sara may also include tour updates on the back of the statement, or on separate pages.

HOW MUCH $$?: The question that comes up most often is, "How much money do I need to take on the tour?" Rather than copping out with "pack light and carry large bills," here are some thoughts that might help. Your breakfasts and one other meal, usually dinners, are covered but you will need to provide for that third meal. Figure on $5.00 for a cheap lunch and $30.00 for a splurge. If you live to eat, figure on the high side. If you eat to live, go low. Drinks are not always included with the meals--often you will end up paying for water. And teetotalers: soft drinks are usually as expensive as wine and beer.

Entertainment expenses will vary, and I am providing you with a number of attractions as part of the tour. However, there may be other concerts and events that you want to go to that are not on the itinerary. That leaves shopping, and there is no way I can predict what you will need. Bottom line, absolute bare minimum for meals & miscellaneous--figure $25.00 a day. And that does not include shopping!

As you realize, except in the most touristy of circumstances you can't spend US dollars in the rest of the world. You will have to exchange your dollars into the currency of the country or countries that we will visit. The value of the dollar changes on a daily basis, depending on a number of factors that are far beyond the scope of this discussion. It's not that complicated, but it is somewhat like other life experiences--you usually won't understand it until you've actually done it. I can't stress enough that the best way to change money any more is to use an ATM card. You will pay your bank a modest $1.00—$3.00 fee plus 1 to 3% (a bargain) beyond the official rate of exchange.for the transaction. Cash machines universally available--there are even two of them in the small village where I live. They work around the world the same way they do here with two major exceptions. First, they use numbers only more often than numbers and letters so make sure that you know your PIN by numbers rather than letters. Second, they give you the local currency rather than US$$. Sometimes, the machine will turn you down. Don't panic. Find another machine and try again. Or the international service may not be available at the moment. Try later.

ATM machines will also take your Visa, MasterCard or American Express cards in Europe--if you make the arrangements before the trip. With credit cards, there will be a surcharge, usually 3%.

More traditional ways consist of converting some money before the tour, though I do not recommend it. Locally, your own bank can provide you with foreign currencies, but you will usually have to make the arrangements ahead of time. If you choose to go this route, check first to see what the charges will be. Of course you can change money at the airport, but the rate is usually so absurdly high it would make a Mafiosi don blush. You can also change money at some foreign banks. My local bank charges the official rate plus 2% plus various fess that add up to less than €10.00. But again, I highly recommend that you use your ATM card after you get to Europe.

Notice that I am not recommending Travelers Checks as they have gone the way of a letter of recommendation from your banker. Not only are travelers checks hard to deal with, ATM cards are simply far superior. Also, you don't need to carry all that much cash--use credit cards for any purchases. Please do not bring Travelers Checks. (On just about every tour, we will have one novice who shows up with Travelers Checks and then has a difficult time cashing them. Please excuse my lack of sympathy.)

In all of this,  make sure that you have more than one way to access your funds. Carry some US$$, an ATM card and a credit card or two. If you have an American Express card, take along a check or two as you can cash a check up to a $1,000.00 a month at any American Express office. Notify your bank and credit card companies before the tour. Otherwise an overzealous fraud squad member might deny your transactions.

Since the introduction of the euro (€), life is much easier for Americans. Not only can we travel from country to country without changing money, the euro is much more similar to our own currency than most of the previous currencies. I only have one caveat: The smallest bill is a €5.00. There are €2.00 and €1.00 coins, along with .50, .20, .10, .05, .02 and .01.If you are not careful, you can end up with a lot of pocket ballast. When you are asked to pay a bill of, say, €3.20, don't just automatically pull out a bill. Chances are you have that much change in your pocket. I do recommend a change purse. It does make life easier.

IMPORTANT NOTICE TO PARENTS OF DEPENDENT TRAVELERS: Please read the above paragraphs and make sure your son or daughter has access to emergency funds while on the tour. Wiring money to your offspring is difficult, expensive and slow. It is much easier to make preparations for an emergency before the trip.

And finally, now that you have brought enough of it, and have not lost any of it to gypsies or pickpockets, you might want to spend some of your money on . . . .

SHOPPING: Being chromosome challenged, it took me a long time to understand the attraction of shopping on tour, but I've adjusted. Not only can you find arts and crafts from the local area, but also you can find manufactured items that aren't carried by USA stores. Also, I like to go into department stores just to see what is offered, see what the locals are buying. It is another way of getting to know the people.

Based on personal experience and the suggestions of previous groups, here is a list of do's and don'ts:

• Do use a credit card for major purchases. You'll get the best rate of exchange.
• Do look for items that are unique to the city, region or country: glass and masks in Venice; paper, leather goods--coats, gloves--in Florence; majolica pottery in Tuscany; mosaics in Ravenna, perfume in Paris, carved wood from Bavaria, handicrafts from everywhere.
• Don't expect to see the same items throughout Europe or even throughout a country; i.e., don't try to buy a mask in Ravenna or mosaics in Florence, or leather in Venice.
• Do remember the dictum, "if you buy it, you carry it." Use a charge card and ship home if you buy large and/or expensive items. Consider bringing along a sturdy duffel bag rolled into your bag for souvenirs.
• Don't commit yourself to buying particular items for everyone at home. If you run into something small, inexpensive, appropriate and unique, buy it. Otherwise, buy postcards along the way, or some candy or cookies at the duty-free shop on the way home and be done with it. (Frankly, I get a little tired of watching some first-time travelers spend 90% of their time trying to find the perfect nick-knacks for everyone back home or chasing around trying to fill an "order.")
• Do look for Christmas or birthday presents, purchases that you would be making anyway. You can come up with some unique gifts.
• Don't waste your money on manufactured goods that you can buy in the States.
• Do think of picking up museum guidebooks, note cards, and postcards, at your favorite museums. That way you can relive your experience over and over after you get home. Some of the books are unique, not available anywhere else (and it is fun to read the mangled English in the translations.) Along the same line, look for reproductions (both painting and sculpture) and posters at the museum shops. These items are truly unique to the museum, city and region. But don't forget: YOU BUY IT, YOU CARRY IT!!