Budgeting can feel hard enough when you’re living in one place, tied to the same computer and excel sheet each night. But what about when you’re traveling?
Sticking to a budget and tracking your money while jet-setting around the world presents its own unique issues. If you’re lucky enough to visit a new country every few months, you need a way to manage your finances on-the-go.
There are a number of different apps designed specifically for world travelers, and Trail Wallet leads the way among them.
What is Trail Wallet?
Trail Wallet is a travel budget app for iPhone and iPad that tracks expenses for people who are always on the road. It promises a streamlined design and ease of use for those who want to stay focused on the beautiful sights or the board rooms around them rather than balancing their checkbooks.
In order to use Trail Wallet, you simply choose whether to budget by trip or by month, then set a daily budget. Every time you pay for something, whether it’s an awesome souvenir or a meal, add that figure into the app. The app will adjust your budgeting calculations to update what you have left to spend.
More than anything, the Trail Wallet app helps travelers liberate themselves from collecting receipts or wondering if the available balance showing in online banking is actually up-to-date. Other key features make it intuitive and hassle-free to use anywhere.
The Key Features
Trail Wallet app starts with a detailed summary screen that outlines the most important information you need at a moment’s notice: where your money has gone and how much you have left.
In addition, you can expect these other features:
- Data shown in local currencies, if you choose
- Interactive bar chart showing your spending over the last five days
- Daily budget labels and breakdowns by day, month, or trip
- An option to spread expenses over multiple days
- Interactive pie charts for a visual view of your spending habits
- Option to export data in CSV format and send it via messages, email, or Airdrop
- Daily auto-backup through iCloud
As you can see, this isn’t an app to help you become an investment wizard or a stock market expert; it’s designed to serve a very specific purpose. You can make your first 25 entries free, then use in-app purchases ($4.99) for unlimited entries.
Is Trail Wallet Right For You?
If you’re a passionate traveller committed to enjoying your experiences instead of worrying about tracking receipts and tallying dollars, this app is right for you. Trail Wallet is designed to take the hassle out of budgeting by making it easy to track what you spend (and what you have left to spend!).
More than 150,000 travelers have used and vouched for Trail Wallet, the app’s website claims.
There are just a few downsides. First, Trail Wallet is currently only available on iOS. If you’re a faithful Android user, this definitely creates an issue. Additionally, it strictly tracks expenses without any ability to enter income or other varying factors.
You’ll need a separate system to create an overall budget. But Trail Wallet can help you implement and stick to that budget like a pro, no matter how far you go and how long your journey.
Learn how to save now and retire early: Financial Independence Retire Early (FIRE) Explained.