Financial Planning Tips For Travelling Abroad

When it comes to getting ready for a big holiday abroad, there are tons upon tons of things you need to consider and remember, and you might often experience the last-minute panic of getting everything sorted. Have you got enough clothes? Sun protection? What about toiletries? Got all the chargers you need? And, of course, passports and tickets! Preparing to go away can feel like a bit of an uphill struggle – however, one side of holidaying abroad you should definitely not leave until the morning of departure is your finances.
Be Prepared
This is the golden rule for finance wherever you may be, but as you’ll be away from home, it’s well worth remembering to both keep yourself covered financially for the duration of your trip and have a back-up plan in case of an emergency. While you might not necessarily know how much you’ll be spending while on holiday, you don’t really want to be spending much of your free time worrying about how much you’ve got left to spend!
Online Banking

Online banking is a fantastic idea if you’re out of the country for a while. Find a hotel with Wi-Fi and take a tablet, laptop or mobile phone with you and you’ll be able to track your spend with ease. You’ll probably even find many restaurants and public places will grant you free Wi-Fi too, meaning checking your finances couldn’t be easier. This is especially the case if you intend to be using a card for the majority of your time away.
Limit Cash Carrying
Having your money physically to hand may be an attractive option but it’s worth bearing in mind that once it’s gone, it’s gone. Not only is there greater temptation to spend anything you may have in your purse or wallet, but it’s also worth considering that in case of theft or loss, if all your financial coverage is in note form, you’ll have very little to stand on for the remainder of your trip. By staying dependent on a card, you’ll not only be able to keep track easier but you can also cancel any cards if the worst should happen to your possessions, minimising the risk of you losing money.
Check Your Cards
Making sure your cards are all in date and valid for your trip abroad is essential – as is making copies! You’ll never know if you’ll need a paper backup of your financial records so it’s worthwhile backing up while you have the chance if you need to provide proof while out of the country.
Talk With Your Bank
Letting your bank know that you’re going abroad may well reap rewards for you – many banks and building societies may be able to offer you insurance or extra protection in case of theft or loss in transit or while overseas – and it’s always worthwhile keeping international versions of your bank’s contact numbers to hand so that you can reach them at a local rate if necessary.
Take Care!
The bottom line is this – if you’re careful with your money at home, you should definitely be careful with your money abroad. Keep PINs covered, your cards separate and limit your cash carrying – and if you can bank online, do so! Planning ahead financially will save you potential stress in the long term so why not act now and save yourself future hassle?