16 Dec 2022 | Edukatips

Tips for Managing Finances While on Holiday Abroad

Taking a vacation abroad is certainly the perfect time to have fun and shop for gifts. Unfortunately, while being filled with excitement, many return from holidays to higher-than-expected spending. For this reason, people need to have a clear budget for holiday.

Spending for meals and accommodation while traveling abroad need to be planned. These two categories usually require larger budget allocation. Try to calculate the budget allocation more carefully and in detail. That way, your finances will remain healthy after returning from holiday.

Tips for Managing Finances While Holidaying Abroad

Basically, managing finances in any given circumstances is much the same. Make sure to always prioritize needs over wants. Here are some easy ways to manage your finances during your holiday abroad.

1. Set a Daily Budget

Setting a budget eliminates the squandering of money and avoids overspend. This budget should be made before leaving for your holiday destination. Once it is set, be discipline. Also, make sure to plan the budget according to your financial condition.

2. Don’t Exchange Cash Too Much

It is recommended to bring cash to fulfill your needs while traveling abroad. However, make sure you have enough cash, and not bring too much. When running out of cash, you can make cash withdrawals abroad through an ATM. You can do this by using a BCA Debit Mastercard or BCA Credit Card with a Mastercard or Visa logo. For the complete instructions, click here.

3. Record Your Daily Expenses

Daily financial records are also important, both for short and long-term holidays. This note is also a reminder when the expenses on one day have almost exceeded the budget you set. Financial records during the holiday can also be used as information if there is excess money. Who knows, you can use the excess for other things, such as buying gifts.

4. Record Your Gift Purchases

Souvenirs are sometimes an obligation when holidaying abroad. However, that doesn’t mean it swells up your holiday budget. For that, list the people to receive the gifts as well as the budget. Also, find the best places to buy souvenir gifts at affordable prices.

5. Use Credit Cards

Credit cardholders can turn their eligible transactions into affordable installment payments. In addition, there are also merchants that offer interest 0% interest installments or special promos with credit card transactions. For information on BCA credit cards, please click here.

Those are the tips for managing finances while on holiday abroad. Hopefully, you can better manage your holiday expenses with the tips above!