Today’s article shows you how to save money while traveling. However, this isn’t your typical read about riding the public bus or haggling at local markets.

Instead, you’ll discover five ways to save (and make) thousands of dollars per year.

These are powerful tips for protecting your money, and some of them will surprise you. In fact, I’ve never seen #3 mentioned anywhere online before.

Anyway, let’s dive in!

1. Hard Assets: The Importance Of Keeping Physical Money

(Keep Physical Cash On You At All Times)

International travel creates big problems with your bank account, PayPal, and any other money services you use.

Many of these services will detect a “foreign transaction” and temporarily suspended your account, even if you’ve notified them in advance.

I remember my first trip to Thailand. Both the bank and PayPal locked my accounts for suspicious activity. Worst of all, it was Friday night and I couldn’t get anything reactivated until Monday morning.

This is a horrible situation, especially if you aren’t carrying cash.

My suggestion?

Take five $20 bills and keep them in your wallet for emergency purposes only. This means you never touch them unless your bank cards get frozen.

I also recommend keeping a handful of silver coins with you. I bought $100 in bullion through Golden Eagle Coins to keep with me.

If you’re stranded without money for several days, you can always cash these out at a local currency exchange or gold shop. You never know when you’ll run into banking troubles, so this is a great insurance policy.

2. Investments: Create A Source Of Recurring Revenue

You can offset most of your travel expenses with good old-fashioned residual income. Dividend stocks and bonds are the easiest, most traditional method for creating recurring wealth.

(Picked Up $500+ In Dividends During The Last 30 Days)

Build-up a portfolio of $1 – $3.5 million and you’re free to travel the world without ever having to work again.

With this much money, you’re collecting anywhere from $4,000 – $10,000 a month in passive income. You save money while your dividend checks foot the bill.

If you don’t have this type of money (yet), create a recurring revenue product. I personally recommend eBooks. They cost nothing to write (maybe $50 – $100 total), while generating a steady stream of passive income.

3. Start An LLC. For Tax Write-Offs

This is a major way to save money and one nobody ever talks about. You spend a hundred bucks or so to set-up an Limited Liability Corporation, essentially a small business.

Tie your travels into the LLC. somehow, and you can write-off your purchases as a business expense.

Don’t lie and cheat on your taxes, obviously, but there are many legal ways to reduce your taxes. Maybe travel blogging is your small business, in that case you can write-off hotels and airfare.

Talk with a lawyer or accountant about this, you’ll be surprised.

4. Save Money By Choosing The Right Banking Services.

Many countries have insanely high ATM and banking fees. Thailand charges something like $6 per transaction. And the Philippines you’re paying about $5.

That adds up pretty quick and it’s easy to waste $50 – $100 per month on ATM fees alone

I suggest opening a checking account with Chales Schwab (no affiliate) since they’ll reimburse you for any excess ATM fees. This alone means you’re saving anywhere from $500 – $1,200 a year. That’s some serious money.

5. Have “Fall-Back” Skills And Maintain A Source Of Active Income

(12 Hours Of Work – For A Whole Week – $867.00 Profit)

Doing nothing gets boring. If you’re living abroad, spend at least one or two hours a day working on something to bring in extra cash.

This keeps you busy, gives you a goal, and will actually save money. How? You’re inside working, and every hour spent this way is one less where you’re going out to spend. Additionally, you can always reinvest that newly earned money. Using it to create more passive income.

In terms of low-cost start-up businesses, freelance writing is a great one. You don’t need anything special (like a website or advertising budget) and you’re able to turn a profit from day one.

This is also great if you’re ever in a pinch and need some quick cash.

You can simply hop online, write a couple of articles, and cover all your expenses. It’s better than being helpless.

There’s a whole bunch of websites and forums about this topic, but the best resource is Secrets of a Freelance Writer. It’s an in-depth guide to succeeding in the industry.

Blogging or affiliate marketing is another good business.

This venture takes time, but eventually generates passive income. I recommend buying your own domain name through BlueHost, since they’re beginner friendly and have terrific customer service.

Work on this every day for a year, and watch as your results compound over time.