Prepare Your Finances for Travel with These Three Tips

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Getting ready for your vacation or business travel means much more than packing a bag and making airline or train reservations. People need to prepare financially for each trip, too, says avid traveler Claudette Spinelli. She advocates spending a day getting finances ready at least two weeks in advance of the trip.

Step One: Make a Travel Budget

Your travel budget includes more than the cost of the transportation tickets and hotel. Set a spending limit for the trip, states Tourist Secrets. Include meals, coffee, and shopping in your budget. If you’ll rent a vehicle, include that, too. Consult a road atlas or mapping app to determine if your budget should include toll fees and parking fees. For example, traveling in Boston, Massachusetts, requires money for tolls and parking.

Step Two: Alert Your Bank and Credit Cards of Travel Plans

Nothing’s more embarrassing than swiping your credit card in a store on vacation and having an alert show on the register. The sales associate tells you there’s a hold on your card for suspicious use, and everyone behind you in line overhears. Before you can check out, you must phone the credit card company and confirm that you’re the actual cardholder and want to make the purchase.

That happens every day throughout the world because travelers don’t know that they need to alert their bank and credit cards before their trip. Some cardholders get locked out of their banking app for the same reason. Financial apps use a combination of a person’s password, PIN, thumbprint, device, and IP address to recognize them. That’s why you have to go through extra steps the first time you log into the app when you install it on a new cellphone.

When many people travel, they turn on Wi-Fi to save money on roaming fees with their carrier. That results in each app a traveler opens registering the IP address of the Wi-Fi, and that triggers an alert on financial apps because an IP address reveals the location. The bank or credit card company sees a strange location and locks the card, so your money doesn’t get stolen. Address this problem before you leave by phoning each credit card and bank you use to let them know when you’ll travel, where, and the route you’ll take. That way, you can safely shop during your layover in Chicago on the way to Boston.

Step Three: Stick to Your Budget

Use prepaid debit cards to control spending, suggests Go Banking Rates. On family vacations, provide each child with a prepaid debit card with the total amount they have to spend for the trip. It can help them stick to their budget if they typically get their allowance on these cards, and you don’t provide extra money between their weekly allowance payments. If you or your spouse find it tough to stick to a budget, a prepaid card for each of you can help control overspending and buyer’s remorse.

Enjoy Your Trip

No matter why you travel, preparing your finances for the trip can make it more enjoyable. A little planning can take out many of the frustrations some travelers experience.

About Author

LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

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Maria Perez
Maria Perez
9 days ago

These financial tips are super helpful—planning ahead really does make travel more enjoyable and stress-free. On my last road trip, budgeting in advance allowed me to explore more places, including staying at some great RV parks in Midland TX. Affordable and convenient stays like those definitely help stretch your travel budget while still enjoying the journey!