Who doesn’t love to travel, right? Today’s millennials are probably the most mobile generation ever, travelling about 35% more than their predecessors. However, the truth is that they earn about 20% less than what their parents did. This is why millennials worldwide are ‘hustling’ or looking for ways to stretch their money as much as possible.
When it comes to travelling, this does not mean being frugal. Instead, this means being wise, prepared and informed enough to take meaningful money decisions. And, to make such decisions you need a tool that’s both smart and simple. Like, for instance, Wallet!
Wallet has been a favorite among travellers for years now. Right from trip planning to expense tracking and destination-specific reports, it has so many travel-friendly features making it the only app you’ll need to manage your money while you travel. Mia and Ben, who is currently on a year-long trip around Australia say: “Wallet has helped us a lot to accurately track what we’ve spent throughout our travels and helped us stick to our budget.”
So why is Wallet the only app you’ll need for your money during trips?
With Wallet, you can:
Set good goals
So you’ve just started thinking of taking a trip and want to save for it? This is a good place to start from because instead of restricting yourself based on your current income, you’re setting a goal and planning backwards on how to achieve it.
With Goals on Wallet, you can set specific goals and you’ll get a plan that works for you, making it much easier to stay on track. Learn how to set good, actionable goals on Wallet. Or, read about Sofie, one of our users from Belgium, on how she saves for her trips using Goals.
The first step towards any successful trip is planning in advance. From booking tickets to deciding what to pack, arranging things for when you’ll be away and checking weather forecasts, good travel planning is what ensures that you have a stress-free vacation. And, having a travel checklist is what will really keep on track with your planning activities.
A checklist will make sure that you don’t forget things. It makes you more organized and helps you save both time and money.
With Shopping Lists on Wallet, you can create as many checklists you want while you travel and have them with you on the go. Check out this post on the three most essential checklists every traveller must have.
Create a travel budget
The one thing that will take out stress about money and let you have a nice time while you travel is a TRAVEL BUDGET! And, the good news is that you can create a realistic travel budget no matter what stage of trip planning you’re in.
If you’re still in the planning stage, a travel budget will help you make a more realistic travel plan. If you are just saving for a trip, a travel budget will act as a guide to set a realistic savings goal. And, if you’re ready to take off, a travel budget will help you make the best spending choices on the go.
You could also plan for big payments like accommodation expenses or flight tickets using Planned Payments. This will make sure you don’t forget these big ticket items when you create your budget. Read more on how to create a realistic travel budget on Wallet here. And, for all you iOS users, here are some ideas on how Andrei, one of our users, budgets for his trips on Wallet for iOS.
Track your travel expenses
Now that you have a budget. You should know whether you’re sticking to that budget or not right? That’s why you should track your trip expenses. Wallet is designed to simplify the tracking process for travellers like you. Tracking your expenses when you travel is crucial to know how and where you’re spending money and whether you’re in line with your budget.
Most of our users love to manually track their expenses when they’re on the road. Some of them prefer to use the Bank Sync feature and get their transactions automatically synced and categorized on Wallet. And, some others like to Import their transactions via the Web App.
What travellers love about Wallet is that it works offline, with multiple currencies and also has features like Smart Assistant and One-Click Tracking for those who need a bit of a nudge to stay on track. Read more on tracking here.
Sort and visualize your finances as you wish
It’s not enough to track consistently, you need to know how to use this information and use it to your benefit. And Labels are your friend, especially when you’re travelling. Labels help you group together income and expense records and filter them out separately as you wish. They also help you budget more quickly and efficiently. You can also use them to filter your charts and reports.
So for instance, say, you are travelling to Italy, and are visiting three cities–Rome, Venice and Milan. You can make as many or as few Labels as you please. You could create one for Italy and separate ones for separate cities so that you can later get a picture of how much you spent at each destination. And, you can even create different Budgets or one master Budget with all these Labels and keep track of your travel expenses automatically.
And, now if you switch on our new Auto-Assign feature for a Label, it will get automatically added to every new Record you create till you switch the feature off. Save time spent on organizing your finances and spend more time enjoying your trip.
Share your finances
Most of us travel with our partners, family or friends. And, you don’t want to spend your vacation having awkward conversations about finances. With Group Sharing on Wallet, you could say all you wanted about money to your loved ones or friends without speaking a single word.
Our users use this feature in many different ways when they travel. While most of them use it to budget and track finances together, some of them use it to even plan and share specific shared expenses. With Group Sharing, you can decide exactly what everyone in your group has access to, thus making it much easier to maintain a balance between privacy and transparency.
Read more on how and for what all you could use the Group Sharing feature on Wallet.
Be in the know on the go
Apart from these features, Wallet has a number of other exclusive features that our users love to use while travelling. For instance, Wallet works offline and it can be used in multiple currencies. It works across platforms and users can log in to their accounts on their mobile devices, tablets or their desktop computers.
It connects to about 15,000 banks and credit cards from around the world. You can carry all your loyalty cards and global warranties on Wallet. You can even store images to remind them where you incurred an expense.
And, above all this, you can now even assign emotions to your records on Wallet and find out how your money makes you feel with the new feature called Was It Worth It?
Convinced to take Wallet on your next trip?
Trust us, it will be the only app you’ll need to manage your money while you travel.
Over to you
What all do you use Wallet for when you travel? Share your stories, ideas and suggestions in the comments section below.