2. It is cheaper to buy Mexican pesos than dollars or euros. You will always do the conversion at an official money changer's store and not through a private person. You may pay a little more, but that way you will know that your money is safe.
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A credit card will make the most sense for larger purchases and you'll likely need one for hotels. You'll always need cash to make everyday purchases.
The best currency to bring to Mexico is a mix of pesos and US dollars. Use the dollars to pay for tours, entrance fees, accommodation, and travel. For everything else use pesos. It should be relatively simple to get pesos in your own country before you travel.
Since most major tourist attractions accept both U.S. dollars and pesos, you should bring a little of both. However, don't bring too much. Even though Mexico is generally safe, carrying large wads of cash in your wallet or pockets is not a good idea.
How Much Money to Take to Mexico for a Week? Follow the 25% rule regardless of how many days you will be in Mexico. For example, if your total budget for a seven-day vacation is 1500 USD, you should bring a total of 375 USD or 7,000 MXN.
100 Pesos is equivalent to about $5 to $6. This sum may not seem like a big amount, but it can buy tourists one or two meals in Mexico. In the Mayan country, the cheapest cuisine is street food. Tacos can cost as much as 20 Pesos for a basket of four or five tacos.
Credit cards are widely accepted at most places of business throughout Mexico, especially in tourist areas. Besides small towns and certain food trucks or shops, you can use a credit card to pay for most things.
Cash is a necessity in Cancun, given that many restaurants and gift shops don't accept credit cards. Like many other airports around the world, the Cancun airport is jam-packed with money exchange kiosks looking to convert your money into Mexican pesos.
Have a larger budget but still want to watch your spending? A comfortable daily allowance in Mexico is 70-150 USD per person. This will allow you to do a few more luxurious tours, eat at nicer restaurants, or stay at a mid-range hotel. For cash, bring 25-35 USD for each day of your vacation.
It's up to you how much you tip, but the recommended amount in Mexico is between 10% – 20% (15% is a good standard in tourist areas) of the bill or ticket price.
For traveling (even on a backpacker budget), it is perhaps better to consider what 500 pesos (or $25 will buy). That is enough to rent a car for a way (minus non-specified expenses). It is also enough for dormitory accommodation in some of the cheapest hostels in Mexico City for two nights (around $8 per night).
Is $500 dollars enough for Mexico? The good news is, in certain parts of Mexico it's still possible to live and travel on just $500 a month! It's even possible to live in Mexico comfortably on $500 per month, as long as you plan your trip correctly.