Getting Your Travel Finances in Order

Posted September 6, 2020 by in Lifestyle
woman with luggage bag

It seems like everyone has dreams of travel, whether it’s lounging on a tropical beach or hiking the mountains in Patagonia. Why then, doesn’t everyone follow those dreams?

If you ask people what stops them from traveling, one of the most common answers you’ll hear is “I can’t afford it.” Most people see travel as a luxury and discount it altogether if their bank accounts aren’t stacked. Don’t fall into this trap. The truth is, there are many ways to travel for different types of budgets. 

The first step is to work out your travel finances as you plan your ultimate vacation:

airplane wing at sunset

What to Consider for Your Travel Finances

There are some key things to think about to finance your travel. There are tons of ways to save on flights, hotels, and excursions. You just need to do some planning ahead of time.

How Much Will Your Trip Cost?

The first thing to consider when planning a trip is your budget. Figuring out exactly how much money you need to do everything gives you a solid goal to reach, rather than an ambiguous feeling of being expensive.

Think about what you’ll spend on accommodation, activities, and delicious new cuisine. There are plenty of affordable destinations to choose from, so you don’t need to go broke.

Budget and Save

Once you have a number in mind, you should start to put money away for the trip. Start a savings account specifically for travel finances.

Creating a budget to stick to while you’re saving money is going to help tremendously. Cutting out unnecessary spending will be easier if you think about all the incredible experiences you’ll have exploring the world.

Learn Travel Hacking

Travel hacking is an excellent tool to help keep the price of your travels down. This is simply using credit cards to earn points towards things like hotel stays and airfare.

Some cards will give you double or triple points on travel expenses, so look for cards with the biggest benefits.

Protect Your Money

Make sure to protect yourself and your finances before you leave. You can purchase RFID blocking wallets to protect your credit cards from scammers with chip readers.

You can wrap your cards with aluminum foil if you don’t want to spend extra money.

You should also call your bank and let them know where you’ll be to avoid having your cards locked because they suspect theft.

Cover Yourself in Case of Emergencies

Travel insurance might seem unnecessary, but it can be a financial lifesaver. If you need emergency surgery, to be airlifted out of the mountains, or even to get home early for an emergency, travel insurance can cover you.

There are many companies that provide it, so you can shop around for the best rates before you go.

Get Going

Don’t let anyone trick you into thinking travel is an unaffordable luxury. Getting your finances ready for your global adventures isn’t impossible.

Think about your travel finances now and get started fulfilling your wanderlust dreams today.