3. Managing finances

Teaching your teen financial independence is a crucial part of their exchange experience.

• Budgeting: Start teaching budgeting skills before departure. Show them how to withdraw small amounts of cash at a time and discuss ATM fees and partnerships between banks.
• Prepaid cards: Get a prepaid Visa or Mastercard and test it before departure. Having two cards can be helpful in case one is lost.
• Host family expenses: Encourage your teen to ask their host family about expected expenses such as school fees, sports participation costs, or transportation fees.
• Travel opportunities: Discuss your financial limits for additional trips with the host family, school, or STS.