Congratulations! You’ve saved up money, gotten a promotion, snagged a job that allows for remote working, or any of a number of other situations. Whatever the case, you’ve decided to travel overseas long term, perhaps for the first time in your life. If this is the first time you’ve prepared for a journey like this, there are many things which will challenge you. You’ll save yourself a lot of trouble if you are able to plan these things out in advance. When everything goes smoothly later, you’ll have your earlier preparation to thank for it. Here are some things to think about now with a financial checklist.
- Travel. International travel is becoming a lot cheaper. Of course, we’re talking about airfare. You may be able to get to your destination of choice for a reasonable price if you buy tickets well in advance or use cheap new airline fares. But this isn’t the only form of travel you’ll be using once overseas. Taxi rides from the airport to your hotel can be crippling. So can tourist-focused street travel if you’re not careful. Plan in advance every mode of transportation you plan to use for the duration of your stay. Look for savings and you’ll be able to save a lot when it comes to this priciest aspect of long term international travel.
- Lodging. Hostels, work/lodging programs, and couch surfing are ways that travelers like you can have shelter for cheap when traveling. Others manage to stay overseas without paying a dollar, instead taking advantage of public camping spaces and the like. This may not be your thing, but through some combination of the above, you can likely schedule places to stay that won’t break the budget very quickly.
- Currency Transfer and Loans. This is one of those factors which people don’t think about a lot. If you are going to stay overseas for a long time, you’ll have to make one or several currency transfers. If you use some of the most recognizable names in currency transfer, or your international bank, you’ll likely pay a lot more for this service than you need to. A new generation of international money transfer companies is emerging, like the one described in this Transferwise review. Find one that works for your needs and save.
- Food. Depending on where you travel, and how much of a foodie you are, you could pay all kinds of prices to eat overseas. You can likely cook for yourself if you plan well for point #2. Many nations will also give you a currency boost, making your money go a lot farther, especially if you eat the way local people eat. Still, you’ll have ample opportunity to splurge if that is what you decide to do.
There are plenty of ways to spend and save when it comes to international travel. Plan ahead and you’ll find that you’re able to hold to a budget that makes long term international travel much easier to pull off successfully. If you have other savings ideas, leave them in the comments.
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