Skip to content

How to Manage Finances While Away

How much money should I bring and in what form?

The cost of living is different from country to country and city to city.  We suggest that you bring enough money (or exchange enough upon arrival at the airport) to cover two weeks of expenses. It may take some time to find the next available ATM or bank. Keep in mind any large ticket costs you will have to pay within that time frame (i.e. housing deposits, six-month transportation passes, etc.).

You may choose to bring cash with you to convert at the airport. Credit and debit cards are much safer and secure, but will often incur a fee. We discourage students from using traveler's checks.

Banking Tips
  • Call your bank and credit card company to inform them of when and where you will be traveling including any side trips outside your host country that you plan to do. If not informed, they could put a hold on your accounts, which would require you to contact them to get it reactivated.
  • Ask what and how much you will be charged for a transaction from your host country. Is there a cost difference between a debit transaction and an ATM withdrawal?
  • Ask your bank for an increase in the amount you can withdraw from an ATM. This will allow you to make fewer withdrawals and pay fewer fees.
  • Ask your credit card company to increase your spending limit. If you have a good financial history and haven't asked for an increase in the past, they will be more inclined to do this.


Budget Comparison: use this tool to compare a semester at Concordia College to a semester away
Budget Calculator use this tool to budget for academic, personal and independent travel costs

Half the Luggage, double the finances- GO OVERSEAS.pdf