Traveling overseas doesn’t have to mean blowing your budget.
Whether you’re planning your first international trip or you’re a seasoned explorer, knowing how to protect your wallet while abroad can make all the difference.
Here are six practical, coach-approved ways to save money while maximizing your journey experience.
1. Ditch the Foreign Transaction Fees
Many travelers don’t realize they’re being charged every time they swipe their card abroad. Foreign transaction fees can quietly erode your budget.
What to do instead:
- Use a credit or debit card that doesn’t charge international fees.
- Limit ATM withdrawals to fewer, larger amounts to avoid repeat withdrawal charges.
- Look for banks or fintech cards that offer global ATM fee refunds.
Before your trip, call your bank and ask about the fees that apply when you travel. You might be surprised.
2. Be Strategic About Exchanging Currency
Exchanging cash at the airport? That’s a rookie move (and an expensive one).
Better ideas:
- Order foreign currency from your bank ahead of time.
- Use local ATMs at reputable banks upon arrival.
- Compare rates — sometimes hotels offer competitive exchanges, especially in tourist zones.
Pro tip: Don’t wait until the last minute. The more options you have, the better the rate you’ll get.
3. Always Pay in Local Currency
When a card reader abroad asks, “Pay in dollars or local currency?” — always choose local.
Paying in your home currency may seem convenient, but it often comes with worse exchange rates and hidden processing fees.
If you’re offered “dynamic currency conversion,” say no. It benefits the merchant, not you.
4. Tap Into Your Card’s Hidden Perks
You may already have access to travel-friendly benefits without even realizing it.
Check for:
- Travel insurance coverage
- Car rental protection
- Airport lounge access
- Hotel discounts or travel concierge services
Check your card issuer’s terms or your online account benefits before booking anything. You might save more than you expect.
5. Don’t Skip Travel Insurance
If a trip delay or medical emergency occurs abroad, it can become expensive quickly.
How to protect yourself:
- Check if your credit card offers travel protection
- Compare standalone travel insurance options
- Look for policies that cover trip interruption, baggage loss, and international healthcare
A few dollars a day for travel insurance can save you thousands. It’s worth it.
6. Guard Your Money (and Your Info)
Identity theft and fraud don’t take vacations — and international scams can be sneaky.
Secure your finances before takeoff:
- Set travel alerts on your bank and credit card accounts
- Back up photos of your passport, ID, and travel cards to cloud storage
- Enable two-factor authentication for online accounts
- Turn on transaction notifications so you’re alerted to any unusual activity
Peace of mind is priceless when you’re far from home.
Coach’s Corner: Don’t Just Travel Light — Travel Smart
At Reach Higher, we believe money should be a tool that helps you live boldly, not something that holds you back.
International travel is one of the most rewarding investments you can make in yourself. With a few strategic moves, you can avoid money traps, protect your peace of mind, and keep your financial goals on track no matter where you are in the world.
Want help budgeting for your next international trip?
Schedule a free financial coaching call, and let’s create a travel plan that works for your wallet. Bring your most challenging money questions — we’ve got you.