How to Manage Money When Travelling

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Difficulty Cost Time Age Person Event
Moderate
$25 to $50
Long Term
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If you’re an avid traveler, you’ve probably had your share of unexpected trip twists, but few unpleasant surprises on the go can beat those starring finances. And the best part is – there’s no knowing where and when a financial crisis may hit a homerun and leave you stripped of basic sustenance for the duration of the trip (or even longer). To prevent money-related shockers on the fly, follow these simple steps and pull out all the stops on the road to superior travelling experience.

Step by Step Instructions

  • Step 1

    Lower money withdrawal fees

    Unless you intend to lug around a hefty wallet and risk being robbed while you’re having a blast, you’ll need to withdraw cash from the ATM at least once in a while. To reduce trip expenses, arm yourself with one or more debit cards from a bank that offers lowest international cash withdrawal fees and has a number of ATMs at your destination.

  • Step 2

    Link checking and savings account

    You never know whether fate will keep smiling on you for the entire duration of the trip, or whether she will throw you an emergency curveball somewhere along the way. To stay on the safe side of potential on-the-go crises that may require extra cash, link checking and savings accounts before departure. That way, you’ll be both able to access emergency stash and earn a nice interest in case you don’t withdraw more money than you have on your bank account.

  • Step 3

    Cross-compare exchange rates

    Exchange rates can be a real menace, especially when visiting countries abroad for the first time. Don’t let local exchange offices rob you of hard-earned coins: always double-check conversion rates before you whip out your money and hand it over to the changer. If possible, spend a few more minutes selecting a payment service that offers fixed and lock-in exchange rate options – that way, you’ll be able to cut total conversion fees and save up for a pricier souvenir or even a cool day trip.

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