Given the Weak Dollar Overseas, Any Tips on Long-Term Travel?

09.05.07 | 7:41 AM ET

Dear Rolf,

I am a year into college and have decided to take several years off to circumnavigate the globe—this may be the only time in my life that I’ll be able to do it. But I am concerned about the weakening dollar when I’ll be somewhere relatively expensive, such as Europe. Do you have any suggestions about banking abroad and other ways to help preserve my precious travel money?

—Matt, Denver

Dear Matt,

Three things spring to mind:

1) The U.S. dollar might strengthen in the future; it tends to go up and down over the years.

2) If Europe is expensive (and it tends to be), you might focus your travels elsewhere, like India or Southeast Asia or Latin America. Those are all great, less-expensive destinations where your travel dollar will probably go further.

3) Don’t limit the notion of when you can and cannot travel. When I was in college, I—like you—thought I would have to travel ASAP, because it was the best time in life to do it. And it was a great time to do it—but the ensuing years have been as well. Twelve years later, I’m still traveling, and I feel like I’ll be traveling for many, many more years to come. Every person is different, of course, but if you want to travel in the future, it’s just a matter of positioning yourself to make it happen.

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