When it comes to travel, we like to highlight the positive and enjoyable experiences that come with it. We don’t blame you if you get so excited with a trip, you deserve it after all! But that doesn’t mean it should come with a side of mistakes and a hefty price – one that can […]
November 13, 2019
When it comes to travel, we like to highlight the positive and enjoyable experiences that come with it. We don’t blame you if you get so excited with a trip, you deserve it after all! But that doesn’t mean it should come with a side of mistakes and a hefty price – one that can and should be prevented if only you planned ahead. Stay smart and avoid these financial mistakes when traveling:
Not setting a budget
It’s easy to lose track of your spending habits when you’re out on the road: there’s that bottled water when you got thirsty while sightseeing, a bunch of souvenirs to remember your trip by, the extra tip you gave to the excellent tour guide.
It’s better to anticipate how much you’re willing to spend by allocating a budget for possible expenses like sightseeing, food and drink, souvenirs and gratuities. Map out a daily budget, stick to cash and bring just the right amount for the day so you can reduce the possibilities of overspending. If you have a debit card and a credit card with you, remember that these are only for emergency purposes and not for expensive excursions.
Not notifying your bank
Before you depart for your destination, make sure you call your bank to let them know you will be traveling. Notify them of your travel dates and where you will be heading, so the bank will be aware of when and where you might be using your account. This way, you can avoid the misfortune of the bank blocking your international purchases or withdrawals with the assumption of account theft.
Not having a back-up of important documents
In a perfect world, travelers won’t lose their passport, wallet or credit and debit cards. Unfortunately, this isn’t the case for some of us, so what we can do instead is to arm ourselves with back-up files in the event that we do need them.
Scan or take a photo of important documents such as your passport and another ID so you have extra copies, then take note of any reservation or confirmation details on your phone or through a printed copy.
Not double checking your itinerary
Make sure you verify and double check your plans as soon as you receive the details or confirmation via email. If you’ve reserved a room or a tour through a third party website, try to send the hotel or tour company an email to confirm that the reservation has been made.
For connecting flights, take into account the time you will need when moving from one flight to another and other circumstances such as getting through immigration, waiting for your luggage or changes in weather.