So you’ve been support raising the cost of your trip, but what about paying for your coffee addiction overseas or those extra outings with your team? That’s where spending money comes into play! All of your needs will be paid for from your trip cost, but if you want to eat out with your team, ride an elephant, hike a volcano, you’re going to need some extra dollars!
We suggest bringing $50 per week depending on how much you would like to spend on souvenirs, gifts or anything extra you may like to purchase while on the field! This is just a ballpark number we’ve gotten from previous participants, you may want to bring more or less. You know your spend habits best.
So how are you going to get that money overseas?
Option One: VISA!
We highly recommend you carry a VISA debit card attached to a personal checking account as you travel around the world (not a prepaid card). In our experience, this is the most reliable way to get money overseas. Mastercards work… SOMETIMES. American Express works… NEVER. VISA is the most accepted card and will give you the least trouble.
With a debit card, you can withdraw money from an ATM in the local currency as you need it, usually at the best exchange rate.
Keep in mind that if you do not have a bank account already, this might take some time to set up – so get started right away!
Meet our man, Charles!
Consider opening up a Charles Schwab account. What’s so great about them? No ATM fees! Using ATMs overseas can cost anywhere between $3-$10 everytime you swipe your card. With a Charles Schwab account, they will reimburse all ATM fees at the end of every month! Hello extra coffee money!
Security Removed
Your bank account comes with certain fraud protection systems. As you travel to multiple countries and use your card, banks will suspect your card as stolen. You have to call your bank and tell them that you are traveling. They will want to know where you are going. Also, be sure to check that your debit card won’t expire while you’re gone. If it does, go ahead and call your bank to get a new card plenty of time before you leave.
Add a person you trust to your account
One of the best things I did was add my mom to my bank account. She could then walk into the bank and do anything that needed to be done for me financially at that bank, no questions asked. It made life very hassle free. Your mom might not be the best person to add to your bank account, but I would recommend you add a trusted source. Because most of you are minors, you will probably have to have a parent on there, anyway! Someone who can deposit money for you, change information, and generally take care of anything you need. Not to mention when your mom calls and is so sad that she can’t send you a birthday present on the field, I will tell her that she should add a little cash to your personal bank account. You should make that a simple process!!!
Option Two: CASH!
In most cases, you can take US Dollars and exchange them on the field. Exchanging money in the airport usually gives you the least favorable exchange rate, so the team tries to go to a bank within a couple of days (this might mean you are without money for a bit). In certain countries, exchanging cash can be difficult when you are under 18, so keep this in mind if you are thinking about this option.
Guatemala Participants – if you are planning on carrying cash, we recommend you exchange it/purchase Guatemalan Quetzales BEFORE you leave the United States. With the current bank requirements, you must be 18 to exchange money and your team leaders will not be able to exchange it for you, due to limits on the amount that can be exchanged.
Emergency Money
Come up with a plan for emergency. You may need to visit a doctor or you may forget your debit card in the back of a taxi. Things happen! You might want to bring a little cash (in USD) with you or a credit card just in case! Also, be sure you understand how your insurance works (check out the link on your profile under your documents tab) and how you will pay for any medical treatment you might get overseas.
