How We Manage Money When Traveling on a Budget

As budget travelers, we've learned a lot about managing money on the road. Here are our top tips to help you organize your finances for budget travel, so you can focus on exploring rather than worrying about money.

Online Banking for Budget Travelers

Look for banks offering free online banking with good customer service, no-fee checking accounts, and easy transfers between savings and checking. We recommend comparing options on sites like Bankrate or NerdWallet to find the best deals for budget travelers.

ATM Cards for International Travel

Cash is still king in many budget-friendly destinations. For the lowest fees and best access to your money, we highly recommend either the Charles Schwab Bank High Yield Investor Checking Account or the Fidelity Cash Management Account. Both offer ATM fee reimbursements worldwide, which can save you a significant amount over the course of your travels.

Always carry two different ATM cards as a backup in case one gets lost or doesn't work.

Credit Cards for Budget Travelers

While we focus on budget travel, a good travel credit card can still save you money. Look for cards with no annual fee, cash back on travel purchases, and no foreign transaction fees. Ensure your card has an EMV chip for international acceptance. We recommend comparing travel credit cards, however, we use a Capital One Venture card for most of our foreign transacitons.

Managing Mail While Traveling

For long-term budget travelers, a virtual mailbox service like PostScan Mail can be helpful for managing important documents and bills while you're away.

Budget Travel Money Management Tips

Track your expenses meticulously and set a daily budget. Use apps like Trail Wallet or TravelSpend to help manage your travel budget. Always have a contingency fund for emergencies, and research prices for accommodations, transportation, and activities in advance.

To save money, take advantage of free walking tours, cook your own meals when possible, and use local transportation instead of taxis or rental cars when feasible.

Remember, successful budget travel is all about balancing experiences with costs. With careful planning and smart money management, you can stretch your travel budget further and explore more of the world!

We hope these tips help you manage your money effectively while traveling on a budget. Feel free to share your own budget travel money tips in the comments below!

We Need Your Help

Did you find this article helpful? If so, bookmark it and when you’re planning your next vacation click on any of the links below before finalizing reservations. You’ll get the best price, we’ll earn a small commission, and you’ll help support future articles.

Thank you!