Ways of managing your money abroad

Ways of managing your money abroad

January 25, 2019 0 By Sheri Croll

Travelling is on most peoples agenda, everyone longs to break the routine and go explore somewhere else, somewhere far from home where wanderlust can take its course and embark on new and adventurous journies. The problem with this is that unfortunately, money makes the world go round, and without money, travelling would be very difficult or not possible at all. Travelling on low funds is a very specific type of travelling that some people might like and some people might outright hate, but it targets a very particular type of person. Here I will discuss ways with which people can manage their funds when they go abroad and also reducing the costs of certain things in order to make the trip more financially doable.

Thinking ahead with flights

Flights are usually the first thing you look at when it comes to your vacation, and going irrelevant of your budget, the closer you book to the date the higher the price will be. Ideally, you have a trip planned from 7-8 months before, so that you can buy your tickets around 6 months before, this will ensure that you won’t get blown up prices due to the flight being so close. Alternatively, if you are cutting it close you can always opt for getting connecting flights. Connecting flights would have around one or two lay-overs before you reach your destination and these can go for dirt cheap, the problem would be that getting there would take quite long, you have to keep into account if the flight delays, the time between layovers and everything in between so always be prepared if you opt for connecting flights. What you can do when waiting for flights is indulge in some of your favourite online casino games,

Hotels vs Hostels

If you really want a vacation where you can relax, eat, sleep and just be away from your country and everyone in it, a hotel is a way to go, but if you are not into that type of vacation and/or you cannot afford a hotel, hostels are a great alternative. Hostels offer a cheap accommodation with just the necessities so just bed and bathroom type room, but the price would be significantly and very very attractive cheaper. Another option if you opt to go for an even cheaper price is to sleep in dorms, dorms are shared rooms where people sleep in the same room with other people they might not now, this might be uncomfortable for some, but for others, they might not mind it, and in not minding it, they are saving a lot of money on expensive hotels. Obviously, with hotels, you pay for luxury so you can expect that the luxury aspect from hotels will not be present in hostels.

Online Banking

This is a form of comfort that we can experience nowadays and never before, handling your money via the internet or even with an app. Companies like Revolut and the N26 credit card both have an app which allows you to control your finances through this app. These apps also have certain perks that when it comes to traveling might be extremely useful, for example, through the app you can freeze it and unfreeze the card, so if you lose it and then find it you don’t need to stay calling the bank and dealing with customer care. You can also deposit money to your Revolut without going to a bank or atm but just one tap on your phone. It is always good to have physical money but being able to virtually see your money through an app will come in handy on several different occasions.

Avoid Scams and Tourist Traps

This goes without saying, but being lured in a scam in a country you don’t know might be fairly easy and you won’t even know it! It is always best, with anything, to do your research of where you are going and if it is known for scams, what type of scams and things of the sort. It is always best to learn from other peoples experience and sites like Reddit and Facebook will have communities of people sharing their own personal experiences. Also besides scams, tourist traps are also situations which you should avoid, for example, stores and bars and locations who get their revenue through tourists would have a lot of cheap stuff that might not be of best quality and would also be expensive. The idea is that people try to take advantage of tourists as much as they can because tourists do not generally know what they are doing, so always be safe and be smart with your decisions.

Travelling  with Cryptocurrency

Travelling with online banks has a lot of perks as I mentioned in the aforementioned paragraph and one of them is being able to have a cryptocurrency wallet. There are many perks when working with crypto one, for example, cryptocurrencies like bitcoin are virtual and thus require no exchange and that can also avoid the hassle of exchange rates. Cryptocurrencies are also untraceable, so if you save your privacy and wish to be anonymous in a world where anonymity is rare, crypto is a way to go. As I mentioned in the previous paragraph you can also book flights with crypto, and while waiting for the flight you can enjoy your downtime playing your favourite casino games, here is a comprehensive guide how to start playing with bitcoin. You will always have something to do after you are done scouting around the airport for duty-free stuff, and even if the flight delays you can win more money!

Conclusion

There are many ways to make your trip cheaper, and it is best to experiment and see what works best for you because you might not like certain stuff and might like others, it is always best to try and read, learning from peoples experiences is extremely beneficial if you wish to manage your money well.