How to Manage Your Finances like a Boss While Traveling

send money mexico

It goes without saying that successfully managing your personal finances is a hallmark of responsible adulthood. But while most advice givers tend to focus on budgeting and other boring subjects, you need to know that you can manage your finances like a boss even while on rad adventures, such as while traveling to far away places with strange sounding names. But you also need to know how to do it before starting out on that dream vacation. Let’s take traveling to Mexico as a prime example.

Basic Mexican Travel Tips

Mexico is one of the most popular destinations for American travelers. Much of the scenery is nothing short of spectacular, especially if you love Saguaro cactus and other desert plants and flowers. Upscale resorts abound throughout the country, but if you’re seeking an authentic Mexican experience, don’t forget the smaller hotels, motels, and restaurants (even street vendors) that more likely will let you see local sites and eat traditional foods.

Basic things you need to know about Mexico include the following:

  • You need an American passport to travel to Mexico; if possible, apply for yours several months before your Mexican vacation just in case you run into any snafus.
  • The Mexican exchange medium is the peso; you should exchange sufficient US dollars into pesos before entering the country.
  • When you see a dollar sign ($) in Mexico, it means pesos, not dollars.
  • Many Mexican businesses and restaurants accept American credit cards and/or American dollars, but you should also carry plenty of pesos for cash transactions.
  • The national Mexican language is Spanish; the more Spanish you know, the better, although many Mexicans speak passable English, especially in the northern parts of the country and the Baja peninsula.
  • Distances in Mexico are calculated in kilometers, not miles.
  • If you drive your own vehicle into Mexico, your auto insurance does not cover you in Mexico; you need Mexican auto insurance.
  • You should always drink bottled water while in Mexico just to keep things on the safe side.

Handling Your Finances while in Mexico

Like any boss, you need to be aware of your money at all times while in Mexico, including the exchange rate between dollars and pesos. Fortunately, this rate is very favorable to Americans. Generally, $1 USD translates into around 18.8 Mexican pesos. This exchange rate, however, fluctuates daily and sometimes even hourly.

Another thing that bosses do, and that you should, too, is to have the right people on your financial team, even if they are not right at your elbow at all times.

For instance, should you find yourself short of pesos while in Mexico and need to have someone in the US send money to Mexico on your behalf, you should know about Sharemoney.

Sharemoney makes it possible for anyone in the US with an internet connection to send you money online at any time of the day or night direct from his or her computer, laptop, tablet, mobile phone, etc. What could be easier?

As for where you can pick up your cash, Sharemoney has over 900 bank and other payout locations in Mexico, including the following:

  • Elektra
  • Intermex
  • Santander Serfin
  • Banorte
  • Bansefi
  • Soriana
  • BBVA
  • Bancomer
  • Telecomm

All in all, having a way to send and receive money while traveling may well be the best financial decision you ever made. Smart bosses know that when it comes to traveling the world, knowing your finances are covered lets you sit back and enjoy your vacation.