TRAVEL PREP – 5 Financial Must Do’s Before Travelling Overseas
Where will your next holiday take you? Italy? Japan? Even Yemen? While it is, and should always be, exciting to plan your next escape, it’s also really important not to neglect your finances in the process. While you’re finding the perfect Airbnb rental or searching for the best flights, here are 5 things to keep in mind and put in place before you leave the country:
- Advise your bank of your movements
Let your bank know where and when you’ll be travelling and make at least 2 copies of any credit cards and important documents you’ll be carrying. A money belt or neck pouch is also great for extra security and stops pick-pocketers from getting their hands on your cash.
- Set up online banking
This is the easiest way to monitor your account when you can’t pick up the phone and call your bank. Setting up online banking will allow you to view transactions and help protect you against identity theft and fraud. This will also allow you to stay on top of possibly overdrawing accounts. Only ever access your internet banking on a secure network and remember to always log out when using public computers or Wi-fi services.
- Set up direct debit for your bills
Bills are probably the last thing you want to be thinking about on your dream holiday. Setting up direct debit for your accounts means you won’t have to pay late fees and won’t come home to threatening letters from your electricity provider. Setting up automatic payments can be as easy as making a phone call or adding your banking details to your telco’s website and is a great way to keep your holiday stress free.
- Do your research before getting on the plane
Make sure you’re comparing prices for everything. This includes travel cards, international prepaid mobile services and exchange rates. You can probably find out which phone provider has the cheapest call rates to Australia or within the country you’ll be travelling to before you leave. Researching which countries take certain currencies can also pay off. For example, not all European countries take the Euro and some have strict rules on what they’ll accept.
- Protect yourself!
By far the most important. It’s always a great idea to register your travel dates with Smart Traveller – they’ll let you know of any emergencies or events that might affect your travel plans. Your family should also keep a copy of your itinerary, insurance and accommodation details.
Once you’ve got everything organized, the fun can begin! Enjoy yourself and make the most of your time away from home. For more information, we recommend visiting the Smart Traveller Website.