How do I get money while traveling?
The easiest way to get money while traveling is by an ATM. You will always receive the local currency of the respective country. You should first find out what the exchange rate is, so that you do not withdraw too much or too little money. I usually withdrew for a week or two in advance.
ATMs can be found in Africa in most major cities. In the rural area, on the other hand, they are rather rare. So you should always plan ahead a little.
It is also important to consider whether there is a daily or weekly limit on your cards. Many people were already faced with unpleasant surprises when the ATM suddenly did not spit out any more money.
What will the running costs consist of on your journey?
I have already listed all the points in detail in the subchapter3.3 . Please check your spending regularly – preferably weekly – so you avoid that you lose track of your finances and that you are suddenly without money.
How do I travel cheaply?
A general rule of thumb for most backpackers is that you should budget around 1,000 Euros / month. If you sleep in hostels, you occasionally do guided tours, and you eat more or less well, then you will certainly reach this amount of expenses.
In the first few months of my journey, I even managed to partly outdo my budget. I did not know about possibilities like couchsurfing or workaway, and I was a bit too worried to try them out. But over time, I met more and more travelers, who gave me valuable advice. As time passes, you will learn more about how to save money. As a result, I was able to live well in the last few months with on average 300 Euros / month.
If you travel cheaper, you also travel more adventurous. Personally, I love the adventurous travel style as you experience a lot more.
For you to not spend too much money at the beginning of your journey, like me, I have put together my best tips for cheap travel for you:
But, of course, you should not go crazy with all this saving, and you should not need to do without anything. Sometimes, you just need to spend a night in a single room of a hotel or treat yourself to a delicious meal, a cocktail or whatever – and that is what you should really do.
Where do I stash my money safely when traveling?
As already mentioned, it is better to withdraw smaller sums from the ATM and thus never carry around too much cash. There are some banks that offer free withdrawals worldwide, such as the DKB – the Deutsche Kreditbank.
You should always have some change with you, either in the pockets of your jeans or in a small pocket of your purse. Try to always have enough coins and small bills. Larger notes are usually not accepted at the market or on the buses, as there is no change.
Believe me, it can become a neat mission to get a bill exchanged for smaller bills or coins. Mostly, nobody wants or can change them. I always made sure that I got them exchanged in big supermarkets in a city.
On my reconnaissance trips, I usually had a fake purse with a small amount of money with me. If I had been attacked, I could have handed it over. Fortunately, I never had to use it before. If you carry large sums of money or a credit card with you, then you should stow them in a money belt.
Otherwise, you leave the money locked in the accommodation. Hostels often have lockers. When couchsurfing, then locking it up can be a bit more difficult. For the most part, I have simply trusted my hosts, but, of course, I have not left the valuables lying in open.
It is also good to hide the money in different places. A little bit in the backpack, e.g. in a medicine box, a part in the hand luggage, and another part in the money belt. So it can never happen to you that you suddenly lose all of it.
I also always keep a few Euros and US dollars with me for emergencies. If my cards were broken, I would at least have the possibility to exchange that money to get ahead. Euros and US dollars are exchanged almost everywhere.
How do I get the new currency when crossing a national border?
I always exchanged money directly at the border. Of course, you should never have too much cash with you, because you always lose a small amount when exchanging. Inform yourself in advance on the internet about the current exchange rate, so you will not be ripped off at the border. You will not receive the exact rate, anyway, but you often can still negotiate a little. I have to say that my exchange rates at the border have always been pretty good.