Travelling abroad is one of the most amazing experienced one can go through – and it is definitely worth all the effort. However, dealing with money internationally can be quite difficult, especially since you are travelling into a country with a completely different type of currency as the one you used back home
How to handle your money when traveling abroad? We have gathered some of the most important things you should know about this – so read on and find out more.
Never carry too much cash
If you want to stay as safe as possible try to never carry with you too much cash. It will make you a target for pickpockets – and the last thing you want is to be left without money in a foreign country. Keep this in mind though: you should follow this tip of advice regardless of where in the world you travel, be it a developed or a developing country!
Consider an online currency exchange to get the best rate.
Save as much as possible
If you want to be sure you are never left without one penny in your pocket, try to save as much as possible. Sure, there’s no point in traveling to an amazing foreign country and not trying out its “specialities” in terms of cuisine, entertainment and so on. However, you should at least try to be very well-balanced about this.
For instance, buying food to prepare at home is much cheaper than eating out. And while getting a taste of the local foods is definitely a great idea, you don’t have to do this every single day – and you don’t have to do it at the most expensive places in town. The key to saving money when you are an international traveller is making sure you go off the touristic path and venture into the activities and places frequented by the locals (be them supermarket, restaurants or places of entertainment).
If you want to be able to stay as much as possible in one place, planning ahead is very important. Booking your plane tickets and your accommodation long before you even start packing your bags can save you a lot of money and it can land you on great deals.
Also, remember that renting an apartment or a house in a foreign country will be less expensive than staying at a hotel – especially when you plan on staying there for a prolonged period of time. Again, same as with eating out and entertainment, staying away from the touristic areas of the town will most likely land you on a better deal too.
Send money instead of withdrawing them
Withdrawing money from an ATM can be expensive when you are an international traveller. Aside from the fees you will be charged with when withdrawing from an ATM belonging to a different bank than your credit card issuer, you will also waste a lot of money on currency transaction fees as well. Thus, sending money via international transfer services will be the most viable option if you want to save money as much as possible.