When Bola boarded her flight from Lagos to New York for her Master’s program, she thought the hardest part would be the long layover in Paris. She was wrong. The real headache began when she landed and tried to pay for her cab to the airport. She was not carrying enough dollar bills, and withdrawing from the airport ATM would mean losing far too much to the exchange rate. Within her first hour abroad, Bola had already lost money she had not planned to spend.
Bola’s story is not unique. Anyone who has ever stepped off a plane in a new country knows this feeling: the panic of figuring out how to pay, the silent frustration of seeing fees pile up, and the realization that money management abroad is a journey in itself.
Read also: All you need to know about the Paga USD account
Travelling internationally as a Nigerian
Apart from the long flight time, the check-in, the real challenge begins when you have to live, spend, and pay in a new financial system. Exchange rates move unpredictably, bank cards get blocked at the most inconvenient times, and foreign transaction fees quietly chip away at your budget.
Add to that, the need to still send money home, pay bills in Nigeria, or support family while settling into a new country. Managing money abroad is not simple at all.
These are the realities of modern travel, whether you’re a student like Bola, a professional on assignment, going on vacation, or someone relocating long-term. The excitement of new experiences often collides with the stress of figuring out how to move money between two worlds.
Best Practices for Managing Money Abroad
So how do smart travelers make it easier? The answer lies in preparation and choosing the right tools.
- The most important: Find a solution that allows you to live in both currencies at once. Because the truth is, your life doesn’t fit neatly into one. You may earn in dollars, but still need naira. Or you may be studying abroad, but still supporting your family back home. That dual reality is what makes money management abroad so complex.
- Budgeting matters: It’s important to create a clear plan for your expenses in your new country, while also accounting for obligations back home.
- Avoid relying solely on cash: Carrying cash may feel safe, but it runs out quickly and puts you at risk. The smarter option is balance: a little cash for small expenses, and an app to manage your naira and dollar wallets together, with debit card options that let you pay seamlessly wherever you travel.
- Use platforms that are transparent about fees: Hidden charges may look small, but over weeks and months, they eat deeply into your finances.
Managing two worlds (USD account & Naira account) with Paga
Imagine being able to pay for your subway pass in New York while instantly paying directly for your brother’s school fees in Lagos, all from one platform. Or settling your rent abroad while following up with your mom’s appointment bills back home. For travelers, this removes the mess in between and offers a straightforward way to live globally.
Living Globally as a Nigerian with Paga
Managing money across borders doesn’t have to feel like carrying an extra suitcase full of stress. With the right practices, i.e., from smart budgeting to avoiding unnecessary fees, and with tools like Paga’s multi-currency app, you can focus on what really matters: your journey.
Money should move with you as easily as your passport. And with Paga, it finally can.
Paga is a financial technology company, not a bank. Banking services are provided by Regent Bank, Member FDIC. FDIC insurance only covers the failure of insured depository institutions. Certain conditions must be satisfied for pass-through FDIC deposit insurance to apply.