Budgeting & Spending Money

BUDGETING: It's important to plan your budget, both when saving your money to pay for your program, and also to plan for your spending money needs while abroad. L&F provides a sample savings chart to help you plan for saving in manageable weekly amounts. See chart below.

SPENDING MONEY

How much? A minimum of $40 per day (less during family stay) is recommended for lunches, dinners, beverages, and any public transportation not included in your program.

Website to check currency exchange rates: www.oanda.com

What Type? Cards are the best and safest way to carry money.

Debit/ATM card: Debit/ATM cards can be used for purchases as well as for cash withdrawals.

• Check with your bank to make sure it works for withdrawals abroad.
• The debit/ATM card must be from a checking account.
• Notify your bank that the card will be used abroad.
• Check with your bank about transaction/conversion fees.
• Know your PIN and know your card’s withdrawal limits.
• Cards with Visa or MasterCard logos are most widely accepted.

VisaBuxx card: This is a pre-paid debit card and can be purchased online (visabuxx.com). It can be used for cash withdrawals at an ATM (with a PIN) as well as purchases wherever Visa is accepted. Additional monies can be added as needed (by your parents). Allow ample delivery time.

Credit cards: Follow the same guidelines as above, but note that cash advance rates are very high. Reserve credit cards for larger purchases only. Note: Gift cards will not work abroad.

Cash: We recommend carrying only a small amount of cash. If it is lost or stolen, you are simply out that amount of money.

• Plan to have a small amount of foreign currency for the first day abroad.
• Have a small amount of American currency for snacks at airports.

Note: Always carry your passport, cards and cash in a pouch hidden under your clothing. Never leave your money or passport in your hotel room or suitcase.