One of the biggest worries of anyone traveling to other countries or even just to the next city is the thought of losing money. You should do just fine locally but what if you’re going to other countries? You should keep a working knowledge of how currency exchanges work. It should be an important thing to know especially if you plan on staying in other places and countries for a long time.
Young couples — especially those who are recently married — are the ones most likely to travel. If traveling’s in your soul, then you most likely are, too. COVID-19 has made it tricky these days but before the pandemic, you’d most likely have problems due to money.
There are ways to gain more money for traveling, however. If you’re paying for a home, you’d most likely take out an FHA-insured loan. You can also go the traditional way and save up for the rest of the year. But if you’d rather find other ways, maybe we can recommend a few tips on how you can save more to travel far.
1. Try to Save More Money
If you’re going to travel, it isn’t wise to buy money that you’re not going to use right away.
The exchange market is volatile. What the rates are now aren’t going to be the same rates that you’ll encounter when you’re traveling abroad. They’re especially active during these times when people are unsure as to what’s going to happen.
If you should buy just to put your mind at ease about traveling with money, at least consider buying half. This way, you’ll be less affected when the prices decide to fluctuate.
2. Find a Place Where You Can Cook
When you’re traveling, chances are that you’re going to find a place to stay that catches your eye right away. One of the first things you should make sure about this place is that you can cook your own food.
Why do you ask? Well, cooking your own food — aside from assuring you that you’ll be eating well-cooked food — saves you money. You can buy it directly from the market and then cook it when you’re at the place you’re staying. If you’re not comfortable partaking in the local cuisine, then this is the next best thing you can do that also saves you some money.
3. Spend Less Time at Bars
When you’re in a different place, it’s easy to while your time away in luxury. You might also find yourself partaking in the local scene, that is, staying in bars. That right there is a bad idea.
Bars can be expensive, never mind that you can take advantage of the exchange rates. You could choose to invite any guests or friends you have with you on your trip to your flat for a couple of brewskis or cook for them instead. This will save you more money for your trip.
4. Get a Cheap Debit Card
This one is a bit more on the financial side. If you want to get a debit card to use abroad, open a bank account with a bank that doesn’t charge any fees for foreign transactions. If you’re more comfortable opening a separate account solely for travel, you’re free to do that as well.
You don’t have to switch either. Having a separate bank account for travel can help you control your spending. You can put money into that account and just keep that amount there, so you won’t go overboard with your spending.
There’s no assurance that the pandemic will go away immediately, so at best, these tips are here until you can travel to other countries. The best tip for enjoying your travel abroad is to stay safe wherever you plan to go.