How do I track expenses in two currencies as an expat?

Pick your budgeting currency

• Living abroad long-term: use your local currency, because rent, food and bills are in it.
• Paid from home but living abroad: still budget in the currency you spend, and log your income at the amount that actually arrived.
• Travelling for a few weeks: keep your home currency and convert each spend.

Convert at the rate you actually paid

Use the amount that left your account, including the bank's exchange margin and fees, not the rate you see on a currency website. That's your real cost, and the difference is often bigger than people expect.

Track money sent home separately

Remittances to family, loan payments at home and transfers to savings back home aren't day-to-day spending. Give them their own category so they don't hide what life abroad actually costs, and so you can see how much you're sending.

Watch for fees

Track fees as their own category for a month. If they add up, a local account or a low-fee card can pay for itself quickly.

• Foreign transaction fees on cards issued at home
• Exchange margins on transfers
• ATM charges abroad

Doing it with Balance

Balance supports 140+ currencies and sets yours from your phone's region. You can change it anytime in settings. It tracks in one currency at a time, which suits the single-budget approach: pick the currency you spend in, enter each spend at the amount you actually paid, and add a category for money sent home.