Traveling abroad is exciting — new places, new foods, new experiences—but let’s be real: it can be tricky to stick to your budget when you’re caught up in the adventure, while trying to do the math in a different currency
That’s where Lunch Money can help. We make it easy to track your spending, no matter where you are, automatically converting over 160 currencies into your home currency.
Before we show you how to use Lunch Money’s multi-currency features, here are some tips to help you budget like a pro when traveling internationally.
Step 1: Figure out what you can afford to spend
Before you start booking flights and hotels, it’s a good idea to figure out how much you can actually spend. Ideally, you’ve been stashing money away for this trip. If not, it’s never too late to start.
In fact, you can use Lunch Money to set a “Travel Fund” budget category and save up each month. This way, when it’s time to book your trip, you’ll know exactly how much you can spend on each trip.
Step 2: Plan your trip
Once you know your overall travel budget, you’ll need to decide where you want to go and what you’ll do once you get there.
Things to consider:
- How will you get there?
- Where are you going to stay?
- How will you get around?
- What activities will you do?
Pro tip: As you review your options, make two lists. The first is a priority list and includes your trip’s must-dos. For example, if you are going to Paris, you might put “visit the Eiffel Tower” on your priority list.
The second list is for the “nice to have” items. These are the fun extras you can skip if you run out of time or money.
Step 3: Price out your accommodations and attractions
Now that you have your plan, it’s time to start doing a little research. Start by looking up he prices of the various accommodations and activities.
Consider:
- The price of accommodations in each location
- Food costs (don’t forget snacks 🍕)!
- Activities and entrance fees
- Transportation costs (getting there and getting around)
Tweak your plan until it fits within your budget without sacrificing the “must-dos” on your list.
Step 4: Create a budget framework
When budgeting for a trip, a budget framework can help keep your spending on track. A good framework for a travel budget is to spend 60% on essentials, 30% on fun activities, and 10% on unexpected expenses.
- 60% for essentials (transportation, food, accommodation)
- 30% for fun activities (tours, museums, fancy dinners)
- 10% for surprises (like a last-minute ticket to a local festival 🎉)
Trust us on that last one — unexpected expenses will pop up, and having a little buffer makes everything less stressful.
Travel budgeting tips
Want to get the most out of your trip? Here are some ways to stretch your travel budget even further.
Spend more time in affordable places
If you’re visiting multiple locations, spend more time in budget-friendly spots. For example, if you’re doing a tour of Europe, consider spending more days in budget-friendly spots like Poland or Portugal and fewer days in Paris. You still get the Paris experience, but in a more efficient manner.
Use Public Transportation
Skip the taxis and rental cars whenever possible. Buses and trains are often way cheaper and more fun!
Eat Like a Local
Remember this: street food is better than touristy restaurants. Also, if you are staying for several days or even weeks, consider renting a place with a kitchenette so you can cook some meals at home.
Avoid peak season
Traveling in the off-season can save you a lot of money. Lodging, transportation, and attractions are often less expensive. You can also enjoy the area’s amenities with fewer crowds, making them more accessible.
Pack light
Carry-ons for the win! 🧳 Checked bag fees are typically around $35 for the first bag. So, if you are traveling by air with a companion, you could easily spend $140 round-trip on checked bag fees. Also, packing light can make travel more enjoyable, especially if you visit several different locations on the same trip.
Be smart about currency
Make sure that your card doesn’t charge foreign transaction fees. These can add 3%—5% to every transaction in a currency other than your home currency. Some cards marketed as “travel credit cards” waive this fee, but always read the fine print to be sure.
Also, when paying abroad, always choose local currency if given the option, as it’s almost always cheaper that way. You can get cash with your debit card at a local ATM; however, foreign ATM fees can be very high.
How Lunch Money makes traveling easier
One of the best things about Lunch Money is how effortlessly it handles multiple currencies, which is perfect for frequent travelers and digital nomads.
In Lunch Money, you can:
- Set your home currency
- Add as many foreign currencies as you want (we support 167 and counting!)
- Automatically convert transactions into your home currency for easy budgeting
In the screenshot below, I’ve selected the U.S. Dollar as my primary currency, but I can also have transactions in British Pounds, Thai Baht, and Japanese Yen.
The app automatically converts transactions to your primary currency, providing a clear picture of your finances.
Here are a few transactions that originated in Thai baht:
However, the transactions are shown in USD in the summary section and my budget.
Lunch Money’s multi-currency features save you from having to do mental math while traveling. No more quick currency conversions in your head to see where you are with your budget. Lunch Money does it all for you, so you don’t need to think about it.
Final thoughts
Creating a travel budget doesn’t have to be overwhelming. All you have to do is set some clear goals, ask yourself a few questions, do some research, and plan for these expenses before they come up. Lunch Money makes international travel easy since it does all the conversions for you.
