Money Matters

The heaviest baggage for a traveller is an empty purse

The heaviest baggage for a traveller is an empty purse, therefore try and save as much money as possible for your travels. The more you have the more freedom and choice you have to do things.

How much money do you need?

You will need to crunch some numbers to answer that one. Before you even set off you need to cover the following items:

  1. Airline ticket  $………….
  2. Travel Insurance  $………….. (check out our Travel Insurance section)
  3. Youth Hostel membership $……………..
  4. 1-2 weeks short-term accommodation for your arrival   $…………….
  5. Transportation in and around the country (countries) $…………..
  6. Passport $………….
  7. Visa/s $…………….
  8. Vaccinations $………………
  9. Backpack $…………….. (check out our Packing section)
  10. Other items (sleeping bag, shoes, travel guides, etc.)
    _______________ $……………
    _______________ $……………
    _______________ $……………
    _______________ $……………
    _______________ $……………

On arrival at your destination you need to budget for:

  1. Transport from the airport/seaport to your accommodation  $………….
  2. Meals x 3  $…………………
  3. Sightseeing (entrance fees)  $…………………
  4. Longer term accommodation  $…………………
  5. Spending money  $………………….
  6. Other items
    _______________ $……………
    _______________ $……………
    _______________ $…………
    _______________ $……………
    _______________ $……………

How to take your money

In decades gone past travellers cheques were the way to carry your money. Today’s travellers are much more likely to have a combination of cash, debit and credit cards.

Cash

It is a good idea to have some cash. Organise some before you leave home. A couple of hundred dollars in the currency of the country you are heading to should be enough to last you until you get your bearings and find out where the nearest Automatic Bank Machine (ATM) is. Request some small denominations to be included so you have small notes available to catch public transport from the airport, for tips if required and other incidentals, such as a drink.

Accessing your current bank account

Accessing your current bank account electronically is very easy nowadays. Download your banks app and away you go. You can monitor your account from your phone from anywhere in the world, as long as you have wifi!

Credit/Debit card

credit card

Many people travel with a credit/debit card for the ease and convenience of them. Visa and MasterCard are widely accepted around the world. You can use your cards in local ATMs to access your money. Check with your bank about any fees that may apply while travelling and obtaining money from your account in the local currency of the country you are in. Ensure you have telephone numbers available if your card/s is lost or stolen so you can make that call so no-one else can access your account. If you are planning to work (which most of us are on a working holiday) you will probably open a bank account in the country you are working so you can be paid in the local currency.

Travel Money Card

A travel money card is a prepaid card that can be loaded with different currencies to make purchases while travelling overseas. You can decide how much and which currency to load the card with. It is used similar to having a credit/debit card but with a specific limit. You can also request re-loads while travelling to top up the card. Banks and some travel agencies can issue these cards. Visit your nearest bank or search on-line for information.