The Basics of Managing Your Finances While Traveling

We all know that money is one of the main aspects you need to take into account when traveling. You have to be able to manage it on the road. There are services out there like Experian that can help you with that. But you should also learn how to be safe about it.

It can be a bit tricky when you are getting started so I put together a couple of tips I learned after a lot of years traveling and living abroad. I have been able to learn a few ins-and-outs that can make your life easier when it comes to paying bills and managing money.

Finances While Traveling - Travel Advice

1. Cash is generally the safest bet. It is accepted everywhere and it allows you to haggle with local vendors to get stuff a little bit cheaper. My only problem with this is that having only cash can be a huge problem if you get robbed. There is no way you can get it back. So I like to distribute it between my bags.

2. Another great thing to have are debit cards. They allow you to get cash easily, plus you don’t get interest on them. This is the best way to pay for stuff in those places where there are no extra fees for paying with a card. They can also be used in transactions through the internet for bookings or purchases.

The issue with these ones is that most banks charge ATM fees. Also, it is always a good idea to have at least two linked to different bank accounts in case one gets stolen, lost or someone finds out your pin. And they are not the best for emergencies when you need to spend more than you thought, or during long term travel.

3. Then there are credit cards. This has to be my favorite of all the options out there. I don’t have to exchange money and save on ATM fees. I feel safer with them, but for them to be safer you need to keep your bank notified of all the places you are traveling to.

4. The internet can also be a great tool. Even while traveling, there are still bills that need to get paid at home and, of course, the credit card bill. Nowadays this can be done with a computer. But entering your passwords in different computers during your trip can be dangerous so you should travel with your own laptop.

However, even with your own computer, be aware of the connection type. There are some where the information goes through another device before reaching the internet, making it easy for other people to get the info.

Managing all of these options and figuring out the best for you can take some time. But now at least you know a few of the pros and cons of each.

About Marina Villatoro

Marina Kuperman Villatoro CEO of TravelExperta.com, a travel resource site to inspire families to travel with kids of all ages. Marina has been an expat 20+ years in Central America raising 2 boys in a multicultural, trilingual household. She travels all over the world with her family to give first hand experiences of where to eat, stay and play with kids. Needless to say, it’s never boring! Join Marina on Facebook and Twitter for more unique and boutique family travel!

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