{"id":24770,"date":"2022-09-09T06:35:25","date_gmt":"2022-09-09T06:35:25","guid":{"rendered":"https:\/\/transfergo.wpengine.com\/money-abroad-tips\/"},"modified":"2026-02-20T14:05:03","modified_gmt":"2026-02-20T14:05:03","slug":"money-abroad-tips","status":"publish","type":"post","link":"https:\/\/www.transfergo.com\/gb\/money-abroad-tips","title":{"rendered":"How to be smart with your money abroad"},"content":{"rendered":"\n

Travelling abroad<\/a> can be fun but it\u2019s important to be smart with your money.<\/p>\n\n\n\n

Whether you\u2019re trekking in Thailand or skiing in Switzerland, there\u2019s always the potential for surprise expenses and nasty scams.<\/p>\n\n\n\n

To help you make the most of your next trip, we\u2019ve compiled 5 travel money tips on how to be smart with your money abroad. <\/p>\n\n\n\n

1.<\/strong> Let your bank know about your travel plans<\/strong><\/h2>\n\n\n\n

If you\u2019re planning a trip, it\u2019s always worthwhile letting your financial service institution know about your plans before you go\u2014particularly if you don\u2019t go away very often. Transactions abroad can throw up an instant red flag, which might lead to your bank deciding to freeze your account. You definitely don\u2019t want this while you\u2019re paying for a local bite in-between sightseeing!<\/p>\n\n\n\n

2. Be savvy with exchange rates<\/strong><\/h2>\n\n\n\n

If you have a clear idea of where you\u2019re heading, it\u2019s always worth being aware of the local currencies and exchange rates. This way, you\u2019ll have a rough idea of what to expect when you\u2019re exchanging and spending money. For the best exchange rates, change your currency <\/a>before you leave your home turf. <\/p>\n\n\n\n

3. Budget, budget, budget<\/strong><\/h2>\n\n\n\n

It\u2019s amazing how quickly we can become swayed by the \u2018you only live once\u2019 mindset when travelling abroad. But don\u2019t get carried away! Create a realistic travel budget and stick to it. Include everything from day-to-day expenses on food, transport and accommodation to last-minute excursion costs. Numbeo has a really useful Cost of Living Index<\/a> guide to help you get an estimate of how much things cost in your destination. <\/p>\n\n\n\n

4. Change your mobile phone plan<\/strong><\/h2>\n\n\n\n

Thanks to social media, many of us are using our phones more often. It\u2019s therefore really important to call your mobile phone provider to set up an international phone and data plan so you don\u2019t get a nasty shock when your monthly phone bill arrives! It might cost you a little extra but trust us, it\u2019s worth it to avoid those hefty international roaming charges. If you\u2019re planning to stay abroad for a long time, it might be worth looking into swapping your SIM card for a local SIM card for convenience and cost efficiency.<\/p>\n\n\n\n

5. Be smart with those ATMs<\/strong><\/h2>\n\n\n\n

As we previously mentioned, the most cost-effective way to get your local currency is by exchanging before you go. But if you have to use the ATMs, be aware of the hefty transaction fees that can occur and follow our smart and savvy ATM tips\u2026<\/p>\n\n\n\n

    \n
  1. Only use ATMs in languages that you understand.<\/li>\n\n\n\n
  2. Use reputable ATMs only. To be ultra-safe, pick ATMs that belong to banks.<\/li>\n\n\n\n
  3. Stay alert when using an ATM and if you feel uneasy, just walk away.<\/li>\n\n\n\n
  4. Withdraw cash in daylight hours only to avoid a (very) sticky situation if the ATM eats your card.<\/li>\n\n\n\n
  5. Inspect the ATM for a card skimmer\/shimmer. This helpful guide tells you how to spot and avoid credit card skimmers and shimmers<\/a>. <\/li>\n<\/ol>\n\n\n\n

    Now that you know how to be smart with your money abroad, stay safe and have fun!<\/p>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Travelling abroad can be fun but it\u2019s important to be smart with your money. Whether you\u2019re trekking in Thailand or skiing in Switzerland, there\u2019s always the potential for surprise expenses and nasty scams. To help you make the most of your next trip, we\u2019ve compiled 5 travel money tips on how to be smart with your money […]<\/p>\n","protected":false},"author":7,"featured_media":24772,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,1493],"tags":[],"business_case_studies_tags":[],"class_list":["post-24770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance","category-personal-finance-tips"],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/transfergo.com\/gb\/money-abroad-tips","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How to be smart with your money abroad","url":"http:\/\/www.transfergo.com\/gb\/money-abroad-tips","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.transfergo.com\/gb\/money-abroad-tips"},"thumbnailUrl":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2022\/11\/220802_Blogs_Aug_How-to-be-smart-with-your-money-abroad.jpg?resize=150,150","image":{"@type":"ImageObject","url":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2022\/11\/220802_Blogs_Aug_How-to-be-smart-with-your-money-abroad.jpg"},"articleSection":"Personal finance tips","author":[{"@type":"Person","name":"Jennifer Tate"}],"creator":["Jennifer Tate"],"publisher":{"@type":"Organization","name":"TransferGo","logo":""},"keywords":[],"dateCreated":"2022-09-09T06:35:25Z","datePublished":"2022-09-09T06:35:25Z","dateModified":"2026-02-20T14:05:03Z"},"rendered":"