As summer officially begins, so does an exhilarating season of travel to international locales. You may be planning the proper attire for the Mediterranean and French Riviera, double checking the expiration date on your Passport, and getting fit so you’re ready for pictures to capture the memories.
While toning up for your latest adventure, don’t forget your financial fitness and keep your hard earned dollars in shape with these three simple but very useful tips.
Before you embark on your journey abroad, be sure to know what your credit cards charge for international expenditures. Some will attribute an additional 3% fee every time you swipe, while others do not penalize for foreign transactions. To help avoid additional charges, compare card policies and find your best option for vacation use here.
Another consideration for savvy summer travel is the US Dollar and, more specifically, where it can buy the most. With the recent strength of the British Pound, you may want to spend less time in London and more time in Europe as the Euro has not suffered the same fluctuation. You will also feel the strength of the greenback in countries like Indonesia or Japan, where it may offer more value than in the recent past.
Create a Budget
Last, but certainly not least, remember to set a budget and plan for expenses including nightly hotels, transportation while at your destination, dinners and activities. Once set, do your best to adhere to what you have comfortably chosen to afford on your holiday.
Remember, you want to reflect on the memories you’ve made with a full photo album – not a depleted bank statement.
About the Author
Jeff Runyan is a Beverly Hills-based Investment Consultant with Wedbush Securities. Serving the community for more than a decade, his clients include many of the most recognized and respected business names and retailers in Southern California. He has a Master of Science in Consumer & Family Economics, is a Chartered Retirement Planning Counselor, and an Accredited Domestic Partnership Advisor.