-- Jenny, from Cape Town, South Africa

ATM cards are by far the best choice for all economic needs while in Latin America and Spain. Why?

1. All major cities have many ATM locations (which serve cards with the Cirrus and Plus symbols on the back of the card -- Check yours.)
2. It's harder to find places to cash traveler's checks than to find an ATM.
3. Cash advances from credit cards often mean very high interest rates from the moment you make the withdrawal. Also, to use only a credit card, you'll have to remember to assign a P.I.N. access code before you leave your home country.

In many markets which sell cultural goods, or if you're going to a rural area, it's best to bring enough cash to buy all you need. Many stores will not have credit card machines. And although some merchants may have a credit card machine, they may charge you extra for this service.

The Case of Panama: Panama is considered by many to be the banking capital of Latin America due to the heavy U.S. presence here during the entire 20th century. For this reason, you may be shocked to see many American banks all over Panama City and elsewhere. I can tell you that I was! I live in New York City, and use HSBC bank. While in Panama City, I saw an HSBC on practically every corner! That means no extra charges to my account for using a different bank's ATM. Fantastic.

-- Gaetan, from Paris

In Mexico, at least, make sure to ask if the price is in pesos or dólares; the vendor may try to confuse you in order to charge you more. Also, if you pay in dólares, you end up losing - they will always give you change back in pesos. While it's good to be able to pay in a monetary unit that you are more comfortable with, live a little! Do some math, and save money while you're at it! Of course, the one exception to all this is Panama, where everything is both paid for and calculated in dollars.

-- Karen, from San Francisco

Banks will always give you a better rate of exchange. The easiest thing to do is change just $20, or that equivalent in your normal currency, at the airport when you arrive. Then go to the bank the next day to change more money. While hotels and travel agencies are often convenient places to change money, it will be worth your while to ask someone: ¿Dónde está el banco más cercano? (Where is the closest bank?)

-- Chloe, from Greece

Always carry a writing implement with you on your travels. You'll be glad you did. My pen allowed me to: write down potential friends' phone numbers and email addresses, take note of new Spanish words I wanted to remember (though you swear to yourself you'll remember a word, it probably won't stick after just one time), have locals actually draw simple maps to help me locate places better, and to get clarification on a price that I wasn't sure if I had gotten right. I actually met someone in Bolivia who didn't end up buying a beautiful handmade blanket because she couldn't understand the price! She was in a small, rural town where people were generally illiterate, and there was no pen to be found! She only had large bills on her, and was afraid to get ripped off. And this leads me to another tip: Always carry small bills! They'll come in handy in ways you would never have expected.