3 Financial Moves to Make Before You Go on Vacation
Most Americans who go on vacation want to focus on the beach or European country that they are planning on visiting. They want to plot out different restaurants to eat at, and the beautiful sights to see. However, when going on vacation, it is also important to be thinking about finances. Planning out finances ahead of time can save you a great deal of time and hassle once the vacation is over and you have to return to your regular life.
1. Notify your credit card company
One financial move you should take before any vacation is to call your credit card company and tell them about the destination of your trip. Credit card companies are very tuned-in to the possible signs of fraud. Perhaps the most obvious is a purchase made in a strange place that an individual had not visited. Telling a credit card company about a visit beforehand can ensure that an individual does not have to call and reactive their accounts after being shut down for fraud.
2. Make a budget
Another key step before any vacation is to draw up a budget. A budget can help guide purchases and decisions made on a vacation. Pretty much every vacation should be seen as an escape from daily life, but some trappings of daily life stay with you as you go on vacation, for better or worse. For most people, one of these is a limited amount of money. Making a budget can reduce the prospect of sticker shock later on when the bill for a vacation comes due.
3. Look for deals
Finally, you should shop around for the best possible deals (within reason) on your vacation. Since vacations can be such a large expense, many families tend to spend more than they otherwise would on them. They do not make the same cost-cutting decisions that they might make in the supermarket, for example. However, shopping around can be incredibly helpful for the budget of any trip. A few hours of research on hotels or rental cars can save an individual hundreds or even thousands of dollars. The same is true for amenities or activities to do on a trip. Paying attention to ways to save and what you are spending makes it much easier for you to ultimately reduce their vacation spending — or put that money into other things you’d like to enjoy while on your trip.
People need to be able to enjoy their vacations. They want a minimal amount of headache and a maximum amount of enjoyment. Eliminating outside stress is key to this process. Making a sensible budget and keeping your credit card(s) in line can ensure that finances are one area that isn’t causing you stress while on vacation.