Managing finances abroad
Handling your finances are hard enough on a daily basis making sure your money is allocated to right places, now imagine try to manage your finances abroad. Handling your finances over abroad may seem scary and difficult but here are some tips to help make that trip and your finances a little simpler for you when over abroad,
Open a local bank account
This should be the first thing you should consider when abroad. This is a easy step if you need to deposit, withdraw with any hold ups and a good way to avoid any extensive ATM fees.
Use online banking
Use the wonderful technology we have today, use online banking to check your account balance, transactions, etc. it may be easier to use online banking since you can select English as your preferred language, instead going to the local bank and having to deal with trying to figure out what everything is.
Keep an account open at home
This is a good way to manage your affairs back at home, keep an account or two open at home so if an unrespecting situation arises you have funds to take care of it right away. Choose an account that has zero foreign transactions to avoid any additional charges. It is also great to be able to send money back and forth between accounts just in case.
Do the Conversions in your head
Do a rough conversion in your head, sometimes it is easier to spend frivolously abroad because it does not feel like real money, you want to make sure you are spending what you need to spend and not over spend.