While you might be excited for that year-long trip around Australia, there’s a lot to set up to keep finances in control when you’re away. Keep on track with these tips.
Set up internet banking
It’s an easy way to track what you spend. Make sure you cancel all paper bills and where possible set up automatic direct debits so you spend less time thinking about it.
Separate your money
Set up two bank accounts. Use one for paying bills such as your mortgage and phone bills and the second for your travelling expenses. Separating your accounts should make it easier to stick to your budget.
Talk to your bank
Tell your bank of your travel plans, especially if you have a mortgage. If you want to rent out your property, it’s a good idea to let the bank know. They may also have some financial advice that will help you on your travels.
Of course, the best way to manage your finances is to have plenty of money in the bank. Ideally, enough in your account to cover all of your regular monthly bills for the entirety of your trip.
Travelling around the country is an incredible experience and if you follow these tips, you can enjoy it all the more knowing that your home finances are in good shape.
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