Managing Your Finances When Travelling: 4 Travel Money Mistakes to Avoid

Going for a vacation with your family can be an exciting adventure and a time to bond. However, there are many money mistakes that you can make that will disrupt your holiday and makes it hard for you to enjoy and experience the most spectacular views in your destination. 

Imagine getting stuck with your kids in a foreign country because you failed to make the proper arrangements with your banks. That’s why it’s crucial to plan your finances properly and research your destination to know what to expect, the events happening, and the average accommodation cost if you stay in a luxurious hotel. This article will highlight the common travel money mistakes and how to avoid them to ensure a successful vacation.

Failure to Plan Ahead

One major issue that makes handling your finances during a vacation complex is the failure to plan ahead. Most people waking up and wanting to go on international or local trips can find themselves stuck due to insufficient amounts. In addition, if you wait too long to make your booking, you might pay more. 

You must take your time with the planning to ensure you have organized everything in order. In addition, if you are planning to stay in a luxurious hotel and other products, you need to check out sites such as and get insights on what to do when booking such a hotel. You should note that early planning enables you to save enough to cater for all the expenses you plan to incur.


Failure to Contact the Bank Before Travelling

Before you travel, you must contact your credit card company and bank to inform them of your travel plans. Tell them when you plan to leave and the duration you anticipate staying there. Failure to inform them can result in your account getting frozen, which can inconvenience your budget and money withdrawal. The banks will freeze your money since they will suspect suspicious activities even when trying to use the ATM. In addition, you need to ask them to know if there are affiliated banks in the destination you are going. They will also help you to avoid transaction fees.

Get a Travel Money Card

Travel money cards make holidays a breeze and can be used ALL over the world, in any country, and for any currency. To understand how to use a currency card, it’s as simple as topping them up before you go and using them like a normal credit / debit card.

Exchanging Money at the Airport

Most people travelling will often go with the option of exchanging their money in the airport, which often is not a fair exchange. If you want to save money, avoid the exchangers at the airport and instead visit the local bank and exchange your money there. In addition, you can use your ATM to pull out cash since there are no transaction fees.


Failure to Properly Pack and Consider Luggage Requirement

When travelling, you must pack the essentials and avoid putting in excess things you don’t want. If your luggage is overweight, you must pay extra baggage fees. This fee can sometimes be hundreds of dollars that you had not budgeted for. Always consult to know the airline you are using to see the requirement you should meet to avoid paying excess additional fees.

Final Thoughts!

Travelling is an incredible time to bond with your family and experience new cultures and destinations. Always prepare in advance and ensure you book your flights early to avoid inflation that might increase costs.

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