If you’re a lover of travel, then you’re likely used to the feeling of money flying out of your hand, wallet, and bank account. It’s not an inexpensive hobby for the most frugal of world wanderers. However, some common financial mistakes could make it all the more expensive.
Here, we will look at a few and how you change your ways so you can enjoy your travels without worrying about the financial difficulty to come.
Neglecting the travel fund
If you travel often, you should have a travel fund. This means creating a budget that sets aside a sliver of your income every time you get paid.
That way, when you feel like organizing a vacation, you already have a lot of the necessary spending money saved up. It also makes it a lot easier to go on impromptu trips without major financial drawbacks.
Not digging around for prices
Feel like you’re too broke to travel? The truth is that travel is a lot more accessible than many might think, you just have to be savvy about how you do it.
For instance, some websites can highlight travel deals and show you the cheapest flights from your local airport, if you’re not too picky about where you plan to fly.
Overusing your credit cards
Your credit card might be one of the most convenient tools when on vacation but relying on it alone has some major risks. For one, they can quickly get expensive and get you in debt.
If you’re in that position, learning how to reduce credit card debt is essential to keep yourself out of that spiral.
However, using credit cards alone put you at risk of having them stolen and being left without the means to buy anything. Always make sure you have some cash on you when travelling for that reason alone.
Forgetting about insurance
Travel insurance might strike many as an unnecessary expense. However, the truth is that it can be a huge disaster if you’re caught without it when you need it.
Travel insurance covers a lot. It’s not just for if your flight gets delayed or cancelled, it also covers your healthcare if you get sick or injured, covers any lost baggage, and even events where you need emergency services to help you return to your country if the worst happens.
Not telling your bank
Lastly, make sure you tell your bank if you’re travelling. If you’re using debit or credit cards provided by them, you could be in for a nasty shock if you forget to. Banks will always cancel or block cards owned by those on vacation. After all, it looks very suspicious if your cards are suddenly being used in a foreign country.
There are numerous other ways to save money on travel if you are flexible about where you stay and avoid costly purchases such as airport dining.
But the tips above can help you address the most significant and bad habits that could cost you the most.
