For many young people Thailand is a go to place to escape the stresses of college and enjoy a bit of travelling.

It has so much to offer, from the hustle and bustle of the cities of Bangkok and Chiang Mai, to the glorious, idyllic Railay Beach and Phi Phi Islands.

There are huge contrasts throughout the country, which means one thing - you need to manage your money.

You’re not going to want to take all your money as current, particularly if you’re spending a considerable time in Thailand. Here are our top tips on spending in the Asian nation…

Spend Cash Wisely
There’s no doubt you should use cash in Thailand, to be honest you’re going to have to.

Every market stall, tuk tuk and smaller, independent restaurants are going to be cash only, so save your Thai Baht for those.

You’re going to need it more away from the big cities so do bear that in mind.

For all major purchases, such as hotel rooms and flights, you’re best using your credit card. It’ll save you carrying wads of cash around while you can also earn air miles and rewards with some of the better credit cards suited for travel.

You find more details at the link to the left, as it’s well worth mixing cash and card in the country.

Withdrawing Cash in Thailand
While Thailand is a relatively cheap nation to enjoy, you may need to withdraw cash.

Every cash machine in the country charges around 200 daht for each withdrawal, so if you do need to get some money, do it in bulk to save on charges.

An alternative is to visit a bank to make a withdrawal. In this case you can get cash without the fees, all you need is your bank card and passport.

Pay Credit Card Purchases in Baht
This applies to anywhere in the world. When paying by card you’ll often be asked whether you would like to pay in the local currency or your home currency. Always choose the local currency.

The exchange rate at your bank will be much better than what is being offered to you there and then, so let your bank do all the work!

Exchange Cash in Thailand
If you’re looking to use a bureau de change, don’t use ones at an airport. You’ll get a far better exchange rate once in the likes of Bangkok and Thailand itself.

There are plenty of locations to withdraw cash so you won’t have to worry about being stranded. You’re far better off getting local currency here than both at the airport and at home, so don’t panic if you’ve not been down to your local currency exchange yet, you’re doing yourself a favour!