Budget, budget, budget - know yours, try to stay within it and always keep a reserve for emergencies too. Having spent months working and saving for the trip, you need to make sure that your hard-earned cash is safe and protected.

GoGapYear - Money

Consider the following:

Credit cards

A credit card is an essential when travelling. Whether you use it to pay for everything or keep it for emergencies, it is the safest way to travel with money.

Look at which types are most widely accepted in the countries in which you intend to travel. If you are going to more than one country where different cards are accepted, consider getting two. Bear in mind that using a credit card to withdraw money is often cheaper than using a normal bank card - check with your bank before going. Consider things like taking out card protection, what the limits are and whether these can be extended for the period of your trip.

It is really important to let your bank and credit card companies know exactly when you are travelling, how long you will be gone for and where you are going. Many people have arrived abroad, used their card for a transaction and then found their card was cancelled shortly afterwards because the bank was not aware that they were abroad and viewed the transaction as suspicious! Also remember that, unless your card is 0% interest for the duration of your trip, you will need to make monthly payments. Arrange for a relative or trusted friend to have permitted control over your bank account and ask them to make the monthly payments for you. Most banks also offer card protection services where you can register all your cards and then, with one phone call from the UK or abroad, cancel everything.

What type of money to take

If at all possible, research what forms of money are the most widely accepted in the places you are travelling to.

There is no point taking large amounts of traveller’s cheques to a remote village in Kenya as there will be nowhere to change them. It is generally a good idea to carry a mixture: a credit card, some traveller’s cheques (appropriate denominations), some pounds sterling or dollars and some local currency. Always ask before you go about exchange rates. Sometimes it is better to wait until you arrive to change money as you get a better rate.

Carrying money

There are so many products on the market which allow you to carry money safely. Make sure that you find the right method for you - shop around, ask friends and try things out first. Again, it is always good to have several methods, including a money pouch or belt that can be secured under your clothes, a wallet that can be kept in your pocket (try the one on a chain that clips onto your belt loop) and some sort of document wallet (waterproof if possible). Have a look at the Pacsafe website for some ideas.

Things to watch

Wherever you travel in the world, you will always come across scams and thieves.

If you are aware of these issues, hopefully you will be less likely to fall victim (although it happens to the best of us!). Keep your eyes open to common scams, like people asking for money upfront, over-friendly locals who continually ask you to choose their product or service or ‘too-good-to-be-true’ offers on food and drink - chances are, it probably is too good to be true!

If the worst happens, what to do

For more information about how to deal with situations such as having your documents, money or possessions stolen, visit the ‘if things go wrong’ page on the Go Gap Year website or the ‘how we can help when things go wrong’ page on the FCO website.