Tips for Managing Your Money While Traveling

Kelly Dunning | October 20, 2015

Although there are some ways to travel for free, such as Couchsurfing and WWOOFing, you’ll still need money for your trip around the world to pay for your plane and bus tickets, hostel bed, food and other expenses. The more money you can save and the better you are at managing it, the longer you’ll be able to stay on the road and the more places you’ll see.

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So how can you manage your money more effectively when you’re on the road? Here are some tips to keep in mind:

Do Your Research on Bank Fees Before You Leave

When you are using an ATM in a foreign country, many banks will charge you a withdrawal fee. Some fees are reasonable, while others are surprisingly high. These charges really do add up when you’re traveling for a long time, so before you leave, make sure you find out exactly how much your bank is going to charge you for every withdrawal.

If the amount is high, you might consider switching to a bank with lower fees. Some banks even offer accounts that don’t charge for international withdrawals. Finding out this information before you leave is better, because it’ll be a lot easier to make the switch to a different bank if you’re still in your home country.

It’s a good idea to let your bank know you’ll be going away. Otherwise, when you start making transactions in other countries, they might flag your account for fraud and block your card. Also, make sure that you have your bank’s phone number available so you can call them if you ever need to resolve an issue.

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Keep Your Flight Boarding Pass and Get Discounts on Your Vacation

After boarding a flight, most people just stuff their boarding pass into their carry-on and forget about it. By doing this, you’re missing out on potential savings. Many airlines offer discounts and freebies for those who keep their boarding pass. Depending on where you land, you could score savings on tourist attractions, restaurants, wine, or even airport transfers.

The Most Common Scams from Around the World

There’s nothing like traversing the world and exploring new countries and cultures, but sometimes the experience is spoiled by dishonorable people preying on uninformed travelers. If you make an effort to learn about the classic scams, you’re unlikely to fall victim to them and can just enjoy the positive side of your trip. To help, here’s a list of common scams around the world for you to get acquainted with.

How to Make Friends During Your Trip

One of the biggest fears of people who want to embark on a solo trip is being alone. They think meeting new people will be a struggle, and if they can’t find a partner to travel with, they just cancel or postpone their adventure. The truth is that with a little bit of planning and initiative, it’s actually harder to be alone than you think. The travel community is extremely welcoming and one doesn’t need to try hard to be part of it.