Financial Travel Hacks Worth Packing
Greetings!
Summer travel season is in full swing, which means your inbox is probably full of packing lists, flight deals, and “travel hacks.”
We thought we’d share a few of our own. Except, of course, ours are financial.
Decide what the trip costs before the trip decides for you.
Vacations have a way of becoming more expensive one dinner, upgrade, and “we’re already here” purchase at a time. Decide what you are comfortable spending overall, which experiences are worth splurging on, and how much room you want to leave for the spontaneous stuff.
Check your credit card benefits before buying extra coverage.
Before paying for rental car insurance or travel protection, check the benefits on the credit card you used to book the trip. Some cards include rental car coverage, trip delay or cancellation benefits, lost luggage reimbursement, and other travel protections. Just make sure you understand what is actually covered. Benefits and exclusions can vary significantly from card to card.
Skip the currency conversion at checkout.
When traveling internationally, you may be asked whether you want to pay in U.S. dollars or the local currency. Choosing the local currency can often help you avoid an unfavorable exchange rate or additional conversion fees. While you are at it, check whether your credit card charges foreign transaction fees.
Don’t forget about Future You.
The goal is to enjoy your vacation without coming home to a financial hangover. Try not to dip into money already earmarked for upcoming bills or other goals just because “you’re already there.”
Don’t keep all of your payment methods in one place.
A lost or stolen wallet is much less disruptive when it does not contain every way you have to access money. Consider keeping a backup card separate from your primary wallet and make sure you know how to lock or replace your cards quickly if needed.
The goal is not to overthink your vacation. It is to handle a few of the financial details ahead of time so you can spend more time enjoying where you are.
Have a big trip coming up? If you want to talk through how it fits into your cash flow or other financial goals, just hit reply. We’re always happy to help.
Safe travels,
Apryl
