How to save money in Prague (Czech Republic)

How to save money in Prague (Czech Republic)

Another superb video from HonestGuide explaining how to save money in Prague, because the way Facebook dislikes YouTube video links we’re posting it on our website instead.

The key points of the video:

  • The currency is Czech koruna NOT EUROS
  • You can use Euros in some places but don’t
  • There are lots of currency exchange places that will scam you / cost you a fortune (e.g. 28% commission or awful exchange rate)
  • Don’t change your money just use a debit card instead, most places accept them. Learn about travel debit cards.
  • Don’t use ATMs unless you know it’s a reputable machine
  • Avoid Euronet ATMs
  • Don’t change money on the streets

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Important things to remember with everything we post:

  • If you earn over your personal allowance (currently £12,570 a year) HMRC need to get their % cut (even if the money is in cash or from another country)
  • If you’re working for yourself / earning an income on the side you need to let HMRC know – There are numerous benefits but also some drawbacks
  • You need to always ensure whatever you’re doing is legal and not hurting anyone else – be careful and always think twice
  • Some income streams may require you to have DBS check, licence, insurance or qualifications before you can start to profit from it, do your research.
  • Be careful that any additional income doesn’t compromise your studies or main income/job
  • If you work for a company check your contract, if you don’t inform them you’re working on other side projects outside of work they may have grounds to ownership on this work

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