Finances largely depend on personal situations, however, there are a few common sense ideas that can be followed.
Credit / Debit Cards
These are the easiest way to get access to funds and reasonably safe. If you are more risk averse then use only debit cards or have a separate credit card with a smaller limit for use in suspect areas. I always try and limit use of credit cards in areas known to have fraudsters. Better to use cash in those situations.
When using these, just be aware of the fees and charges. For example, my bank charges a per transaction fee, a less than favourable exchange rate and then there may also be a charge by the owner of the ATM. Research and be familiar with the charges so you can use the cards in the most cost effective way. My bank has agreements with some major banks in other countries so I can use their ATMs without the fee. A few dollars here and there adds up over months or years.
Don’t assume that your global bank will act globally. Often it is like dealing with separate banks even though they share the same name.
Online Banking
Not sure how many people don’t use online banking these days and it goes without saying that this style of managing your finances definitely makes it a lot easier. You can ensure you have the correct funds in the correct place at all times.
Work-wise, try and deal with suppliers that allow electronic payment of invoices. Related to this is getting all statements and invoices sent electronically. The less paper you receive back home the less you will have to arrange to be forwarded or scanned and emailed.
Sending Money Electronically
If you’re not familiar with the term eWallet, it is used to describe services like PayPal. PayPal is now an eBay owned company and makes it easy to transfer money between people. It is free to join and your online account can be funded from a variety of accounts. Keep money in there or set it up so when you initiate a transfer via PayPal, the funds are withdrawn from your selected account. Depending on the eWallet and your country, you can also access the funds at ATMs and EFTPOS using a debit card.
Of course there is the old fashioned way of wiring money to another account using your bank. This tends to be expensive and there are a few online services such as Xoom that offer the same service for a lot less cost. Works the same way and you need the bank account details of the recipient.
When paying for the larger items such as accommodation, I try to use a credit card linked to an airline rewards program. If that isn’t available then I use one of the other services. PayPal can also be used to pay by credit card (depends on the recipient though), so don’t forget this option.
You can see more details about how to send money online have a look at the site. It also includes pages specific about how to send money to many countries.
