Whilst traveling the world is eye-opening, fun, and exciting, it does also have its downsides. It can be tiring, things can go wrong, and the price tag attached to it isn’t always so appealing. However, there are ways that you can make sure that you always keep your finances in order when you travel, to ensure you don’t get yourself into any sticky situations.
Here we will explore the best ways to keep on top of your finances when you’re traveling, so you have more money to live life to the fullest!
Make use of the technology available to you! There are plenty of apps, software programs, and websites that can ensure you keep all of your finances organized. This could help you with budgeting, currency exchange rates, bill splitting and so much more. With the assistance of these apps, you’ll never let anything money-related slip under the radar. You’d be surprised by how many tools there are that you can use free of charge too.
Also, keep in mind, if you’re working and traveling simultaneously, you’re going to need to keep copies of all your business funds, as you may need these further down the line. Know that there is help online for this kind of thing. For example, FreshBooks offers an Income Statement template that you can utilize if needed, helping you keep on track.
Book in Advance
Whilst you do want to have the spontaneity and freedom to hop from place to place whenever you please, it can be good for you to have some bookings in place before you set off. This gives your trip structure and means that the money is already taken out of your account before you go, so you have a better idea of how much you’ll have to spare when you arrive. This goes for excursions, accommodation and travel – some of these will be necessary anyway, such as airport transfer, so it can be better for your peace of mind to get it sorted before you set off.
Have a Backup Card
It’s a common scenario for people to get caught up in the moment when they’re traveling, to suddenly find that their bank card is missing and they have no way of retrieving money. Often in touristy areas pickpockets thrive and travelers are their main victims. Therefore, you should avoid this eventuality by bringing a spare card with you, that you keep separate from your main one. This means, if your card does get lost or stolen, you can just cancel it. Then, you’ll still have your spare one to pay for things with, saving you a whole load of stress.
Plan and Research
In a similar vein to booking in advance, it’s a good idea to do your research before a big trip, to get an idea of how much money you will need. Depending on where you’re going, you may be surprised by how much different things cost. So, you could find that you need a lot more, or even less, money than you initially anticipated. It’s always wise to be aware of how much things should cost in different areas, as this also ensures you’re not getting ripped off.