Two topics I get asked about all the time are how do you manage your overseas banking, and what do you when it comes to travel and health insurance?
Obviously these are pretty important factors for any world traveler to be clued up on, as you have to know how to get to your money easily while avoiding hefty charges, and make sure you’re taken care of in case of an emergency.
Do note that there’s no one solution when it comes to these two areas, as your situation will be unique depending on your residency, banking requirements, gender and age.
I tend to live and breathe by online payments, online banking and using PayPal wherever I can. But there will always come a time when you need cash on your travels.
What you do need to know is that when you’re abroad, your bank will charge you a fee each time you take out money from an ATM, and so will the bank whose ATM you’re using, which can soon start to add up.
As for insurance, there are lots of options for you, and we’ll discuss one service for travel insurance that I love.
So go ahead and watch this video to learn my top 5 tips for managing money and insurance while overseas.
Can’t see the video player? Watch it on YouTube.
Bank Accounts & Money Abroad Tips
1.) It’s fine to keep your bank account in your own country. Before leaving, ask them: What are the charges when I take money out of my account at another bank?
Ask: Which banks are you associated with outside of your home country?
2.) Take as much money out as you can at one time so you’re paying less of a fee for that money.
Travel & Health Insurance Tips
1.) Check out World Nomads.
2.) Talk to a local travel agent or insurance agent in your own country to see if you can get a good deal.
3.) Check if your credit cards or airlines offer travel/health insurance.
I cover more travel tips in greater detail in my Suitcase Entrepreneur book (due out this August) and will be sharing more tips on the blog and in my video series.
So make sure you SUBSCRIBE to my Youtube channel for all of latest videos with travel and business tips!
Also, check out these articles for more information:
- 8 Questions that Will Help You Get Location Independent
- How to Run a Profitable Business from Anywhere in the World
In the comments below, tell me how you handle your health insurance & banking while you travel.