There’s nothing quite like the buzz of stepping into a new city, but that excitement can fade quickly if your bank balance starts slipping faster than you expected. It’s so easy to overspend while abroad. But the good news is that with a bit of planning and the right tools, you can enjoy your trip without the financial stress. Here are some practical ways you can keep your finances in check when on the road, from setting daily budgets to using modern money-tracking apps.
Set a realistic travel budget with daily limits
Break down your holiday funds. A lump sum saved for a trip can feel reassuring but divide it into daily allowances so you don’t blow through too much too soon. For example, in Paris you might allow £70 a day to cover meals, museum tickets, and metro fares, while a stop in Prague could stretch further on £40. And don’t forget to build a bit of flexibility into your budget – unexpected splurges like a boat ride on the Seine can be offset by choosing a simple café dinner later.
Use budgeting apps to track spending
Let tech keep your spending in check. Apps like TravelSpend or Trail Wallet make it easier to see where your money is going in real time, supporting multiple currencies and providing handy graphs. If you’re travelling with friends, log all shared expenses so no one gets stuck footing the bill for every taxi ride. Even a simple note-taking app can do the trick if you prefer minimal fuss.
Keep receipts and review your spending daily
It’s tempting to ignore the small purchases – pretzels at the airport or that small coffee on the go – but these costs will add up. Keep all receipts (or snap a photo) so that you can easily review them later. A ten-minute check of your spend spreadsheet or expense tracking app every evening can help you see if you’re staying within budget and avoid nasty shocks when you come back home.
Plan for unexpected costs abroad
Even with careful planning, things happen: a missed train that requires a pricey replacement ticket, or a last-minute gallery exhibit by your favourite artist that you hadn’t budgeted for. Set aside around 10–15% of your budget as a buffer so that these surprises don’t derail your finances or force you to cut corners on the fun experiences you’ve been looking forward to.
Plan ahead for currency exchange and payment methods
Carefully plan ahead for how and when to buy travel money so you don’t end up with expensive fees and poor exchange rates. Think about how much cash you’ll actually need – many travellers do rely on cards, but have some local currency on hand for taxis, local markets, or small cafés. Prepaid travel cards are an option if you prefer the security of a fixed amount. Post-Brexit, more people are looking at digital wallets and app-based cards that update with real-time rates, offering a flexible middle ground.
Travel well without overspending
Travelling is about making memories, not dealing with financial stress. By setting daily budgets, making use of smart apps, and factoring in a safety cushion, you can focus on enjoying your trip without constantly worrying about your bank account.
