The best way to move and manage the world's money

International travel is booming as people take advantage of slightly reduced fares and the northern hemisphere summer. This of course raises the perennial question of the best travel finance to use. Travellers' cheques are old hat; it's really a choice between credit cards and debit cards. And you need an armoury of these to cater for whatever may come your way.

First, carry a credit card for the sole purpose of checking in at accommodation. Everybody will want an imprint of the card to pay for "contingencies". They are quick to put money on, they can be slow to take it off.

It's embarrassing and inconvenient when your credit card is blocked because some hotel has used up your credit limit. Take it from me, fixing this is a matter of days not hours - hence my recommendation of a dedicated credit card. I use American Express for this. I never use it for overseas transactions because of the massive fees; it sits in my wallet purely for check-in purposes.

Next is your choice of debit or credit cards. I'm a big fan of debit cards because you know exactly what you are spending and you never come home to a large, unexpected credit card bill. I still recommend carrying a second credit card as a backup in case your debit card is compromised, or you need unexpected emergency money. I use Latitude, which has no fees, but hits you with a usurious penalty interest rate of 27.49% if you don't pay the entire balance on time.

If you intend to withdraw cash from ATMs around the world you should definitely use a debit card. The fees for cash advances on credit cards are huge - for example, Latitude charges 29.99 per cent a year. I haven't used cash when travelling overseas for years, but friends tell me cash is essential if you are going on trips where you need to tip the guide.

The banks are pushing cards that lock in a currency rate on their card before you leave home "to guarantee you won't be hit by adverse exchange rates as you are travelling". The problem is that the banks hit before you go by charging high commission rates.

Thanks to a reader, I have discovered the perfect solution: the Wise debit card.

Wise is a global technology company on a mission to build the best way to move and manage the world's money. And, they seem to be succeeding. Wise offers an extremely efficient international (or multi-currency) account, offering people the ability to open over 40 different currencies within their account and spend like a local wherever they are, in the local currency every time.

The Wise account offers the option of up to three virtual debit cards instantly within the app, which you can connect to your Apple or Google wallets so you can easily spend straight away, using your device. There's also an option of ordering a physical debit card known as the Wise Card (for a one-off $10 fee) for those more prone to using cash when abroad. Wise also offers fee-free ATM withdrawals up to $350 AUD equivalent a month.

It uses the mid-market exchange rate, which is essentially the "real" exchange rate - the one the market naturally sets and that you'd see on Google. That means you're not paying for any exchange rate markups or hidden fees, which is how banks and most other providers make money on FX transactions.

I signed up for my Wise Card from home using the app. It was simple. And I have used it for travel ever since. It's working seamlessly and I'm enjoying the savings on exchange rates. All you do is transfer Australian dollars to your Wise account. Then use the app to convert as much as you wish to the foreign currency you want, at a time of your choice.

So that's how I do travel finance: one credit card for holds; one for emergencies; and both a virtual and physical Wise debit card holding all the currencies I need.

Recently you wrote about eliminating the death tax on super by withdrawing the money and then leaving it to your children via your estate. I have recently changed the Beneficiary with my Super Fund to be my Estate, will this have the same effect. I am 66.

The death tax you mention cannot be eliminated by simply leaving the money to your estate - all that will do is reduce the tax from 17 per cent to 15 per cent as there would be no Medicare levy. The ideal strategy is for you or your attorney to withdraw the money tax-free at an appropriate time prior to your death and deposit that money in your bank account. Those funds can be left via your estate with no tax implications.

My husband aged 65 and myself own a debt free home worth $1.2 million where we have lived for 16 years. We are considering downsizing, possibly to a buy an off the plan home up to about $850,000 which requires a deposit. Would you suggest we withdraw the deposit funds from his super with the intention of putting it back, plus the downsizer super contribution, once our house has sold? What are the tax implications of doing this? I am 61 and intend to continue working for a few years yet, but my husband is hoping to retire at 66. Any information would be appreciated.

Once you reach 60 withdrawals from superannuation are tax-free, but to access your super before 65 you will need to satisfy a condition of release which means you need to retire from a job - it need not be your full-time job. I don't see any downside here, but the money may need to come from your husband's superannuation and not yours because of your ages.

My wife and I have a large super fund invested mainly in shares, we are both 87. Would we be better to cash them in and put the cash in a term deposit.

At your stage in life, the important thing is to ensure you have enough liquidity to take care of future expenditure. If the shares are good ones and the dividends are adequate, there may be no need to sell any. Obviously, there are no age pension issues here, so you should really start to be thinking about who the beneficiaries of your estate will be when you die. It may be better to cash out your super and give it to the beneficiaries sooner rather than later, compared to leaving it to them via your estate (with the potential super death tax).