Managing your money whilst you're away isn't easy, especially on a long term trip.
Imagine the feeling that you're half way through your trip when you realise you are - heart sinks - low on cash. We all know someone who has had to cut their trip early or call home to get more money to actually fly home.
So here are some tips I've learnt/picked up to help us all stay on our trips as long as possible!
The first thing that comes to mind is to be realistic. Always, always be realistic.
It's so easy to get carried away with how much you think you'll need before you go.
Know the amount of money you've saved and the length of time you're away, and make a mental note of how much you've spent BUT don't obsess over it.
Do your research with different countries. It can get confusing with foreign currencies with how much you are actually spending. So set yourself a budget in your own currency - knowing how long you're away, and how much money you have, set your budget or you're daily allowance to spend. This will include food, drink, activities, everything.
To save money, try to find hostels that include breakfast/dinner, or have a self catering kitchen. If not, eating on street stalls is super cheap, plus it's usually the best local food! They say food and alcohol takes up the most money, lucky for me - I'm a lightweight!
Overestimate. You should always overestimate what you think you will spend. You will go over you're budget sometimes. It will happen.
Also look out for ATM fees for getting money out with them that can add up to a lot after some time so make sure you know what ATM's do free withdrawals and also look into bank cards there don't charge for overseas withdrawals.
Prepare for emergencies. Sickness is a possibility anywhere you are. Watch what you're eating and drinking. In some areas like SE Asia, drink bottled water and find out where the water in the ice cubes are from. Another possibility is things getting stolen or misplaced.
If you are travelling in a group Hostels aren't always the cheaper option. Look out for family run hotels, they are usually cleaner than big budget hostels plus if you can sleep 3 in a room it will cut costs down. You will also be helping local families.
If you are travelling in Australia, America or Europe, you can save money by house sitting. This saves you tonnes of money on accommodation and lets you get to know the place a lot better than if you were just passing by.
I hope these tips will help you or give you ideas for your next trip AND lets hope I take my own advance when I leave for mine!
If you have any money managing tips to share, please leave them in the comments below. It's always good to learn new tips from others.
