November 10, 2022

Travel Without Worry with These 6 Money Tips

Some of the most important preps that you’ll have to make before you travel pertain to your money matters. Beyond paying off major expenses like your flight and accommodations and setting aside pocket money for the trip, you should think about how much cash to have on your person, which cards to use for payment, and how to deal with financial emergencies when you’re far away from home.

Money may be stressful to think about at first, but the better you are at keeping your finances in order while you travel, the more likely you are to achieve peace of mind. This, in turn, will allow you to enjoy your trip to the fullest. To that end, here are six money-related tips that you can use to ensure a worry-free journey to your country of destination:  

Settle All Your Financial Obligations Before You Leave
Before everything else, remember to settle all your outstanding financial obligations way ahead of your departure date. It may seem like the obvious thing to do, but people often lose track of their bill payment deadlines and other financial responsibilities when they’re preoccupied with travel-related matters.   

Knowing how easy it might be to forget about your bills or loan payments when you’re caught up with planning your trip, make the effort to take care of these early. Doing so will save you the unpleasant surprise of having to deal with late fees and penalties upon your return.  

Learn All the Best Ways to Use Your Credit Card
Many travelers are afraid to pull out their credit cards when they’re in a foreign land because they associate their cards with steep international transaction fees. But in truth, a great credit card will reward a traveler and make their trip even more enjoyable. 

If this upcoming trip will be the first of many, consider applying for a credit card that has low rates for foreign transactions and that allows you to rack up a variety of travel-related perks. Take the time to read up on the travel benefits provided by your credit card Philippines program and to claim any discounts or rewards points you may have accumulated in time for your journey.

Let Your Credit Card Issuer Know That You’re Traveling Abroad
It would also be a good idea to contact your card issuer and let them know you’ll be in another country, especially if you anticipate using your card for big purchases. That way, you can avoid the inconvenience of having your card deactivated due to suspicion of money laundering or credit card fraud. 

Some card issuers, like banks with large international presences, may not need you to notify them about your trip. These same issuers may also be less prone to flagging international transactions. All the same, it’s best to contact your bank’s customer care team and speak with them about ensuring the smoothest and safest transaction experience while you’re on your trip. 

Find Out Where the Nearest Foreign Exchange Services and ATMs Are
Next, do your research on where the nearest ATMs are relative to your accommodations. If you already have an idea of how much you’ll be spending per day, for example on transportation or entrance fees to a tourist attraction, plan how much money you’ll withdraw at a time. 

Do the same for foreign exchange services outside the airport. This will allow you to get the best deals on forex, as airport rates are often very expensive.

Learn About the Financial Culture of the Place You’re Visiting
Another thing you should do your research on is the unique financial culture of the country you’re visiting. Find out if the country has an extensive cashless payment network that most citizens rely on, or if most establishments still prefer to accept hard cash from customers. 

You should also read up on the customs that locals observe when it comes to money matters. One example is whether it’s common to leave cash tips at cafés, bars, or restaurants; while tips are expected in some countries, they may be considered uncommon or even impolite in others. If you know this beforehand, you’ll be able to extend the utmost courtesy as a traveler. 

Keep Cash and Other Important Documents on Your Person
Lastly, take all the precautions to secure yourself and your assets in case something unpleasant happens during your trip. In case your bag, luggage, or electronics get lost or stolen, keep some cash and paper copies of your documents, like your passport, TEFL certificate and ID, on your person. You can do this by wearing a money pouch or other similar anti-theft accessory under your clothing. 

Don’t forget to include a list of emergency contacts among your documents. Write down the contact details of your family members, the embassy of your home country, and your credit card issuer. The last one will help you freeze your card before a bad actor gets their hands on your money. 

All in all, you’ll be able to secure a pleasant travel experience for yourself by getting your money matters in order. Use the tips listed above to make travel planning easier and to get the most out of your jet-setting adventure. 

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