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How to plan your finances for your travels

Are you planning a getaway? Whether you’re going away for two weeks or two months, it’s worth taking the time to plan how you’ll finance your trip before you book anything. 

As well as ensuring all the essentials are covered while you’re away, getting your finances in order before you set off will ensure that you feel comfortable and stress free. 

Why arrange your finances first?

There are several reasons why it’s worth planning your finances before your big escape. Some of these include: 

  • You can enhance your experience

By working out your money situation before you start planning your holiday, you’ll be able to organise an unforgettable trip. This is because you’ll know if there are opportunities to upgrade hotels and go to the higher-end eateries, for example.  

  • Plan for everything

You can arrange your trip well in advance. This means that the essentials will be booked and paid for safe in the knowledge that you won’t have to scrabble to find the funds for your airport transfers and other key parts of your stay. 

  • Extend your stay

If you budget wisely, your two-month trip could turn into a longer stay, giving you access to even more experiences while you’re away. Many people do fruit picking and other odd jobs in order to boost their finances while away. In fact, this is all part of the travelling experience for many. 

But if you don’t want to work while you’re travelling, savvy saving now can help you to avoid job hunting while you’re out of the UK. 

How to plan

Here’s a breakdown of how to organise your finances: 

  • Set goals

Having a target to aim for can be highly motivating – especially when that target is saving up to indulge in travel. To start saving, work out your monthly budget and establish how much you’ll have left over to put in your savings account. You might be able to add more destinations to your travel bucket list if you start saving early.

  • Plan in advance

Get everything organized as early as possible. While being spontaneous is part of the fun, it’s worth getting your finances in order as early as possible. We’ve already looked at savings, but you might also want to try looking at your credit score too. Having a good score could put you in a could position financially for your trip and beyond.   

  • Look for deals

Take some time to shop around. You might find that the same hotel or flights are cheaper when you look on a different website. Try shopping in incognito mode or use a VPN so that websites can’t track you. This will help to avid prices going up for the flights you’ve already looked at. 

  • Avoid charges

You might be charged for using a card abroad. Research ways to avoid charges and let your bank know you’ll be travelling to avoid your cards being cancelled. Banks may suspect fraud due to unusual activity unless you keep them informed. 

Ready to start planning? Get ready now and all you’ll need to do is focus on having a great time!