Posted by Mike Smith :: September 5, 2007 @ 7:30 am

Having lived, worked, and traveled abroad, I’ve had many experiences dealing with money internationally. Below are some of the lessons that I’ve learned in my travels. While the majority of my travel has been throughout Europe, these tips are likely to apply to most foreign destinations.

The time of day, day of the week, and number of days before your trip can all have a huge impact on the cost of your airfare. I’ve found that just after midnight (Eastern Standard Time) is one of the best times of day to book my travel. It seems as though many temporary ticket holds expire at midnight, freeing up more options for you to choose from.

The day of the week that I choose to book on varies with the airline. Different airlines announce their latest deals on different days, so get to know the release schedule for your preferred airline. Many of their websites give suggestions on finding low fares, which often includes this information.

Remember to clear your browser’s cookies if you compare fares frequently. Some airlines will use cookies from recent visits to their website to only show you fares that you’ve already seen, even if lower fares now exist.

Tell your bank and your credit card company about your trip. While this might seem like a waste of time, some companies automatically deny credit on foreign transactions unless they are aware of your trip. Generally, purchasing an international plane ticket on the card will alert the company that you’ll be traveling. If you plan to use cards, other than the one you used to book your travel, then a quick phone call to the issuer may save you a headache later.

If your ATM card has a pin that is less than six digits, you might want to increase its length. Many international ATMs require at least 6 digits for your pin. If you do get stuck abroad in this situation, you can try adding zeros before your pin to make the length six digits. That will work in certain situations.

Some of the best deals abroad can be found by pre-purchasing before you leave. I found flexible train tickets at an incredible price, with the only caveat being that they had to be shipped to a US address. So planning was well worth it.

While this post gives tips for what to do before your trip, stay tuned to the Lending Club blog for part 2, which will cover your actual time away. Together, these posts should help you to prepare, execute, and experience a trip at reduced cost and with less money troubles.