How To Manage Your Money When Traveling Abroad

How To Manage Your Money When Traveling Abroad


Traveling is a wonderful thing. It is in human nature to be curious and a mortal craving to explore. To some, it is a reward for a season of hard work while others consider it as a break from the status quo. Whatever your reason, at some point in time, you will long to travel and hopefully succeed to do so. May it be by land, by air, long haul or within the state, you have prepared a budget and money is of the essence. Here are some tips on how to manage your money while traveling:

Research Diligently Before Your Trip

In traveling, research is everything. Now that the internet made a lot of information available, from basic details to reviews for a hotel, surely travelers would make better decisions.

Do research about the currency. Learn the conversion. Take note how much a dollar would value in the country you are going to visit. Read blogs about the cost of living there, like how much it will cost you for a meal or public transportation or getting a taxi so that you know what to expect. This way you can set a budget and also protect yourself from scammers and rip-offs.

Stick To Your Budget

Sometimes you get too excited and you end up buying too many souvenirs resulting to over baggage. It may be that there are fun activities or fancy restaurants that you wanted to try, but if you are on a strict budget or long itinerary, try to strict with your budget. You can always go back.

Keep Your Money And Other Means Close To Your Body

You can never tell when and where a person of bad intention will try to take advantage of you. Secure your money in a place where you can easily see or feel it. It is advisable as well to put your cash in the different location and not all the eggs in one basket.

Haggle For The Price

Always try to negotiate for the price, especially if you are visiting a Southeast Asian country such as Vietnam, Cambodia, Thailand or the Philippines. In most successful cases, you can get something at half of its original price. By doing so, you can save a lot and buy more.

Exchange Currency At The Airport Or Banks

Be smart when exchanging currencies. Although some establishments offer really good rates, it is best to transact at authorized business centers. There a lot of reported cases of fake money and unreasonably high service charges.

Use The Local Currency

Always use the local currency of the country you are visiting. You’ll be able to save more by giving the exact amount instead of dollars. You’ll be surprised how much a dollar would cost in some places. Additionally, you will feel more like a local.

Although traveling is about experiencing new things and having fun, it wouldn’t hurt to be smart on your outgoings. It will actually make the experience worthwhile.

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